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

Takupiwa Nyanga

Article Details

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

Authors:

Takupiwa Nyanga

Publisher:

Cihan University, Iraq

Journal:

Cihan University-Erbil Journal of Humanities and Social Sciences Vol.8 Issue 1, pp.107-114

Document Type:

Article

Publication Date:

5/2024

Document Language:

English

Document ID (Org No.):

2001837220

pISSN:

2707-6342

Keywords:

Abstract:

 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 utilised 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 analysis data analysis methods being utilised as data analysis tools. The study revealed that while a significant number of businesses closed their businesses due to the economic downturn some survived and self-rejuvenated and moved on in 2009 when the economy stabilised. The strategies most businesses in rural areas employ to avert effects of future economic distress include among others; 1) diversification, 2) trading in foreign currency, 3) avoiding selling goods on credit, and 4) keeping savings in USD 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 socio-economic shocks and political upheavals.

Article Details

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

Authors:

Takupiwa Nyanga

Publisher:

Cihan University, Iraq

Journal:

Cihan University-Erbil Journal of Humanities and Social Sciences Vol.8 Issue 1, pp.107-114

Document Type:

Article

Publication Date:

5/2024

Document Language:

English

Document ID (Org No.):

2001837220

pISSN:

2707-6342

Business survivors

Economic crisis

Entrepreneurs

Operations

Survival strategies

Issues

Article Details

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

Authors: Takupiwa Nyanga

Publisher: Cihan University, Iraq

Journal: Cihan University-Erbil Journal of Humanities and Social Sciences Vol.8 Issue 1, pp.107-114

Document Type: Article

Publication Date: 5/2024

Document Language: English

Document ID (Org No.): 2001837220

pISSN: 2707-6342

Business survivors

Economic crisis

Entrepreneurs

Operations

Survival strategies

Issues

Authors:

Takupiwa Nyanga

Publisher:

Cihan University, Iraq

Journal:

Cihan University-Erbil Journal of Humanities and Social Sciences Vol.8 Issue 1, pp.107-114

Document Type:

Article

Publication Date:

5/2024

Document Language:

English

Document ID (Org No.):

2001837220

pISSN:

2707-6342