ISSN 2394-5125
 

Research Article 


CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION

I. C. ANUGWO, W.M. SHAKANTU.

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  • Abstract
    In the South African construction industry, about 80% of the SMEs among the civil engineering
    and general building contractors are prone to prematurely exit the market within their first five years of business
    operation. The issues Small and Medium Enterprises (SMEs) survival, growth, and economic sustainability are
    of paramount importance for the South African economy and its global competitiveness. Especially, the
    economic sustainability of the construction industry as it is a catalyst for economic growth and development of
    many countries. The study strived to investigate and gain an in-depth understanding of the actual “in-process”
    operational element among the SMEs (civil engineering and general building contractors) in the South African
    construction industry. This study critically analysed and uncovered the prime strategic drivers that foster the
    contractors‟ survival and economic sustainability in the South African construction industry. The study is
    qualitative in nature and adopted an in-depth interview method rooted in a phenomenological approach. The
    research purposively interviewed Thirty-four (34) SME contractors out of seventy-four (74) total research
    population. Research findings in the context of South African market indicated that core business competence
    such as the engineering capital, business owners‟ industrial and educational experience, and entrepreneurship
    skills; the capability to effectively manage business structure and resources are primal strategic elements that
    contributes towards growing a sustainable business. The study concluded that prime strategic drivers such as the
    firm‟s effective structure, strong competence, and resource-base are necessary and essential for SME
    contractors‟ business survival and competitiveness in the South African construction.

    Key words: Business survival, construction, economic sustainability, SME contractors, strategy, South Africa


     
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    Pubmed Style

    ANUGWO IC, SHAKANTU W. CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION. JCR. 2020; 7(19): 1930-1942. doi:10.31838/jcr.07.19.235


    Web Style

    ANUGWO IC, SHAKANTU W. CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION. http://www.jcreview.com/?mno=108229 [Access: September 14, 2020]. doi:10.31838/jcr.07.19.235


    AMA (American Medical Association) Style

    ANUGWO IC, SHAKANTU W. CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION. JCR. 2020; 7(19): 1930-1942. doi:10.31838/jcr.07.19.235



    Vancouver/ICMJE Style

    ANUGWO IC, SHAKANTU W. CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION. JCR. (2020), [cited September 14, 2020]; 7(19): 1930-1942. doi:10.31838/jcr.07.19.235



    Harvard Style

    ANUGWO, I. C. & SHAKANTU, . W. (2020) CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION. JCR, 7 (19), 1930-1942. doi:10.31838/jcr.07.19.235



    Turabian Style

    ANUGWO, I. C., and W.M. SHAKANTU. 2020. CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION. Journal of Critical Reviews, 7 (19), 1930-1942. doi:10.31838/jcr.07.19.235



    Chicago Style

    ANUGWO, I. C., and W.M. SHAKANTU. "CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION." Journal of Critical Reviews 7 (2020), 1930-1942. doi:10.31838/jcr.07.19.235



    MLA (The Modern Language Association) Style

    ANUGWO, I. C., and W.M. SHAKANTU. "CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION." Journal of Critical Reviews 7.19 (2020), 1930-1942. Print. doi:10.31838/jcr.07.19.235



    APA (American Psychological Association) Style

    ANUGWO, I. C. & SHAKANTU, . W. (2020) CRITICAL REVIEW ON SME CONTRACTORS’ CAPABILITY TO ACHIEVE ECONOMIC SUSTAINABILITY BEYOND THEIR FIRST FIVE YEARS IN THE SOUTH AFRICAN CONSTRUCTION. Journal of Critical Reviews, 7 (19), 1930-1942. doi:10.31838/jcr.07.19.235