The Impact of Legal and Regulatory Framework on SMEs Development: Evidence from Zimbabwe

Abstract

This desktop and library study aims at reviewing the impact of legal and regulatory framework on SMEs development in Zimbabwe in the 21^st century. The focus on SMEs was motivated by the fact that most governments in both developed and developing countries are putting emphasizes on the contributions of SMEs to the economy. It was evident from the reviewed literature that policy, regulatory and institutional framework reforms have not always emancipated SMEs but rather suppress their growth potential.  The study recommends that the government of Zimbabwe must benchmark its pro-SMEs policies with her neighbouring country Botswana. SMEs in Botswana are fully supported by the government and the environment is conducive for doing business especially for SMEs.

Keywords: Legal, regulatory framework, SMEs, Zimbabwe