Financial Inclusion of Micro, Small and Medium Enterprises in Zimbabwe

26% of compliant enterprises had a founder Micro enterprises restrictions whose highest level of education was o 40% restricted by cost Secondary O Level o 19% do not know how to register All medium enterprises were registered Small enterprises restrictions o 33% restricted by cost 52% of enterprises were not registered o 26% discouraged by lack of simplicity and accuracy in company registration l. [...] A substantial proportion of enterprises (31% of urban and 22% of 77% of rural MSMEs do not rural) do NOT have bank accounts because the have a bank account business is not legally registered 75% of MSMEs owned by women There are more enterprises with bank accounts in Matabeleland South (57%), followed by Harare (44%) do not have a bank account and Mashonaland East (43%). [...] The distribution based on location displays that there is a higher likelihood of urban enterprises (12%) making pension schemes available to their workers as compared to rural-based entities (8%) 113 small enterprises did not have vehicle insurance Savings, Investments and Capital Markets 60% of small enterprises have a savings facility whilst only 44% of micro enterprises have a savings facility. [...] Despite the challenging and unstable economic circumstances, 51% of enterprises with savings indicated they still prefer to keep their savings through a bank, whilst 26% prefer to buy foreign currency, 14% will invest in other businesses and only 4% will use the stock market to purchase shares Only 35% of enterprises have access to some form of business investment. [...] We noted that the barriers to inclusion for small enterprises can be summed up as a lack of flexible and affordable financing, harsh compliance laws and lack of information on the best fit for using and sourcing financial products and services.