Society-Oriented Social Responsibility Compass to Sustainable Growth of Small and Medium Enterprises in Developing Countries
Although Society-oriented Social Responsibility has customarily been linked with large companies, Small and Medium Enterprises businesses proved to be a considerable sector in developing countries’ economy. Globally, Small and Medium Enterprises constitute as productive drivers of inclusive economic growth and development of many countries. In South Africa, Small and Medium Enterprises make up 91 percent of formalised businesses, providing employment to about 60 percent of the labour force and accounts for total economic output of roughly 34% percent Gross Domestic Product (GDP) of the country. Given the critical socioeconomic role played by Small and Medium Enterprises, it is vital that they grow and succeed. While a number of studies have acknowledged access to finance as a key success factor,
