Thato Moagi, Cashandra Mara, Peta Thomas
Abstract
This research proposes the influences at work in an ecosystem of small, medium and micro enterprises (SMMEs) representing their goods and services for sale to customers in a physical marketplace, with specific reference to micro businesses such as street vendors and stallholders.
The form of a desk literature review of peer-reviewed academic articles, conference papers, textbooks, and other literature from reliable resources, such as the websites of governments and global organisations was followed. An inductive approach using thematic analysis was employed.
The findings highlight influences that act for the sustainability of the symbiotic ecosystem relationship of a marketplace and its businesses. We argue that understanding the behaviour of these influences leads to the ability to manipulate them to support small business viability.
The recommendations made will be useful in informing managerial and policy guidelines on the role of governments and parastatals in the development of physical marketplaces for entrepreneurial opportunity.
Governments in every country, especially developing countries such as South Africa, need to fully understand the role in the economy of marketplaces and their SMMEs established by entrepreneurs because this assists in understanding the contributions to economic sustainability these ecosystems can make to the people working within them.