Abstract
This study makes a significant contribution towards theory and knowledge of small and medium enterprises (SMEs) within the social sustainability discourse. The study focused on investigating if SMEs in developing economies directly benefit from practising social sustainability through examining the relationship between social sustainability and financial performance, customer satisfaction as well as employee satisfaction. A total of 238 SMEs from the Limpopo province of South Africa were surveyed through a self-administered questionnaire at the hand of convenience sampling technique. The hypotheses in the study were assessed through structural equation modelling (SEM) through AMOS software version 25. The study results revealed that all three postulated hypotheses were supported. Thus, social sustainability was found to be positively and significantly associated with financial performance, customer satisfaction performance as well as employee satisfaction performance. The findings in this study indicate that by practising social sustainability, SMEs potentially benefit on a broader performance spectrum.
Highlights
Within the spectrum of sustainable development, there are mixed notions pertaining to what constitutes the contribution of small medium enterprises’ (SMEs) in the prevailing sustainable development dimensions, namely, economic, ecological and social [1]
The progressive contribution that SMEs make in the global economy is irrefutable and is enshrined in economic growth, poverty alleviation and job creation strategies pursued by many economies both in the developed and developing world
The essence of SMEs tied with the upsurge of sustainability especially for the developing world means SMEs’ research is vital for economic growth in the contemporary world [3]
Summary
Within the spectrum of sustainable development, there are mixed notions pertaining to what constitutes the contribution of SMEs in the prevailing sustainable development dimensions, namely, economic, ecological and social [1]. Consideration towards small medium enterprises’ (SMEs) general contribution toward the economies of the world has grown immensely in literature and research domains [2]. The progressive contribution that SMEs make in the global economy is irrefutable and is enshrined in economic growth, poverty alleviation and job creation strategies pursued by many economies both in the developed and developing world. The essence of SMEs tied with the upsurge of sustainability especially for the developing world means SMEs’ research is vital for economic growth in the contemporary world [3]. SMEs stand as “the future” for many developing nations. Their role in sustainable development is of much research interest
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