Abstract:
This study used exploratory and descriptive survey research design to assess the level of risk
management by SMEs in Zimbabwe with particular emphasis on the knowledge possessed by SMEs
Owners/managers and the insurance cover undertaken by their business with a view to reducing their risk. The
study used a sample of 380 SMEs operating in different lines of business. Both open ended and closed
questionnaires were distributed to owners of the SMEs selected for the study and the data collected were
analysed using descriptive statistics .The findings reveal that 90% of SMEs have a poor knowledge of the
concept of risk and consequently do not have insurance cover .The majority of SMEs did not have risk
management strategies in place to address risk management issues.
