Framework of Entrepreneurship Theories in Augmenting Performance of Small and Medium Enterprises (SMEs) in Zambia

Abstract

This paper examined the entrepreneurship theories in restructuring small and medium enterprise (SMEs) in Zambia as predictor catalyst of development. With the ever-increasing awareness in the study of entrepreneurship there is a need for framework that defines the domain of the field, its building block and Interest. The complexity and dynamism inherent in entrepreneurship acting in the face of uncertainty can help to create opportunity in SMEs, promote efficiency and provide better services. The methodology of study was conducted using meta- analysis that relied on secondary data by way of existing literature for the study. The major finding reveals that, there is clearly a need for improving theory building and applying established theories through good implementation for greater attention. It was concluded that, although SMEs have played significant roles in the development and industrialization of many economies across the world, however in Zambia SMEs performance is low as a result of factors like previously government lack of support to the sector through incentives and policy inconsistencies, poor attitude and habit of entrepreneurs and unfavorable environmental factors