Authors :
Joshua Kojo Frimpong; James Mbewe
Volume/Issue :
Volume 11 - 2026, Issue 3 - March
Google Scholar :
https://tinyurl.com/yzc5vauv
Scribd :
https://tinyurl.com/55zh33z2
DOI :
https://doi.org/10.38124/ijisrt/26mar1394
Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.
Abstract :
This study examines the financial, market, and regulatory constraints affecting Technical Education, Vocational
and Entrepreneurship Training (TEVET)-aligned small and medium enterprises (SMEs) in Lusaka, Zambia. Despite their
critical role in job creation, innovation, and industrial diversification, these enterprises face persistent barriers that hinder
growth and sustainability. Guided by the Constraint Theory of Entrepreneurship, Institutional Theory, and the ResourceBased View (RBV), the study adopted a mixed-methods approach involving 47 TEVET-SME owners and 141 TEVET
graduates. Data were analysed through descriptive and inferential statistics and thematic analysis. Findings reveal that
TEVET-aligned SMEs are vital to Zambia’s local economy but remain constrained by limited access to finance, weak
managerial capacity, unstable markets, and bureaucratic regulatory environments. The paper concludes that integrating
skills development with financial inclusion, institutional coordination, and digital innovation can transform TEVET from a
training system into a driver of industrialisation and inclusive growth.
Keywords :
TEVET, SMEs, Financial Constraints, Market Access, Regulation, Zambia, Entrepreneurship, Industrialisation.
References :
- African Development Bank (AfDB). (2019). African Economic Outlook.
- Akang, L. (2023). SME Financing and Institutional Constraints in Africa.
- Beck, T. (2007). Financing Constraints and SME Development.
- International Finance Corporation (IFC). (2010). SME Access to Finance Report.
- MENON, S. (2010). Small Enterprises and Market Access in Emerging Economies.
- Zambia Development Agency (ZDA). (2022). SME Development Report.
- TEVETA. (2023). Annual Skills and Employment Report.
- Phiri, T. & Chisanga, J. (2019). Vocational Skills and Entrepreneurship Development in Zambia.
- World Bank. (2020). Global SME Finance Forum Report.
This study examines the financial, market, and regulatory constraints affecting Technical Education, Vocational
and Entrepreneurship Training (TEVET)-aligned small and medium enterprises (SMEs) in Lusaka, Zambia. Despite their
critical role in job creation, innovation, and industrial diversification, these enterprises face persistent barriers that hinder
growth and sustainability. Guided by the Constraint Theory of Entrepreneurship, Institutional Theory, and the ResourceBased View (RBV), the study adopted a mixed-methods approach involving 47 TEVET-SME owners and 141 TEVET
graduates. Data were analysed through descriptive and inferential statistics and thematic analysis. Findings reveal that
TEVET-aligned SMEs are vital to Zambia’s local economy but remain constrained by limited access to finance, weak
managerial capacity, unstable markets, and bureaucratic regulatory environments. The paper concludes that integrating
skills development with financial inclusion, institutional coordination, and digital innovation can transform TEVET from a
training system into a driver of industrialisation and inclusive growth.
Keywords :
TEVET, SMEs, Financial Constraints, Market Access, Regulation, Zambia, Entrepreneurship, Industrialisation.
