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The 2000-2008 Economic Crisis in Zimbabwe: Status and Survival Strategies of Business Survivors in Rural Areas

المصدر: مجلة جامعة جيهان أربيل للعلوم الإنسانية والاجتماعية
الناشر: جامعة جيهان أربيل
المؤلف الرئيسي: Takupiwa, Nyanga (Author)
المجلد/العدد: مج8, ع1
محكمة: نعم
الدولة: العراق
التاريخ الميلادي: 2024
الصفحات: 107 - 114
ISSN: 2709-8648
رقم MD: 1548662
نوع المحتوى: بحوث ومقالات
اللغة: الإنجليزية
قواعد المعلومات: EduSearch, HumanIndex
مواضيع:
كلمات المؤلف المفتاحية:
Business Survivors | Economic Crisis | Entrepreneurs | Operations | Survival Strategies
رابط المحتوى:
صورة الغلاف QR قانون
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المستخلص: Between 2000 and 2008, Zimbabwe was hit by one of the devastating economic situations which threatened the lives of businesses and also led to the closure of several businesses. The main purpose of this paper was to trace the survivors of Zimbabwe’s 2000–2008 economic distress and establish the strategies they employ to avert future economic pandemics in the country. A mixed research approach was utilized to carry out the study, with data being collected from a sample of 105 business people and their employees in rural Zimbabwe. A self-designed questionnaire and interview guide were used to solicit data from participants with descriptive and thematic data analysis methods being utilized as the main data analysis tools. The study revealed that while a significant number of businesses closed their businesses due to the economic downturn a reasonable number survived and self-rejuvenated and moved on in 2009 when the economy stabilized. The strategies most businesses in rural areas employ to avert the effects of future economic distress include among others; diversification, trading in foreign currency, avoiding selling goods on credit, and keeping savings in United States of America Dollar and traditional banks. It was recommended that businesses in rural areas need to manage their businesses in a more professional way so that they do not easily get affected by socioeconomic shocks and political upheavals.

ISSN: 2709-8648