Small business performance: business, strategy and owner-manager characteristics (original) (raw)

The Growth of Small Businesses: Towards A Research Agenda

American Journal of Economics and Business Administration, 2012

Problem statement: The central objective of this study is to help define a framework for researching the growth of small businesses. Approach: By way of a literature review, the study evaluates current research approaches to small business growth organized around the "key factors" framework proposed which include elements drawn from the characteristics of the entrepreneur, the firm and the business strategy. Results: In the absence of a unified theory of small business growth, models and approaches used to explain small business growth are fragmented and wide-ranging. A consideration of the additional impact on this framework of the external environmental dimension can inject a necessary dynamic element into the research process that is well-placed to capture the process of firm growth, as opposed to the snapshot of firm growth that tends to dominate the existing empirical work. Conclusion: The study concludes that longitudinal and case-based methodologies are needed to develop our existing understanding of small firm growth behavior.

Building an integrative model of small business growth

Small Business Economics, 2009

The purpose of this article is to develop an integrative model of small business growth that is both broad in scope and parsimonious in nature. Such a ''big picture'' model provides an opportunity (1) to gauge how much we really know about small business growth, when we simultaneously consider the constructs from the dominant perspectives, (2) to assess the contribution of each of these perspectives, (3) to examine the indirect effects that some constructs from one perspective might have on small business growth through constructs from another perspective, and (4) to consider different levels of analysis. Based on an analysis of data from 413 small businesses, we derive a set of propositions that suggest how entrepreneurial orientation, environmental characteristics, firm resources, and managers' personal attitudes directly and/or indirectly influence the growth of small businesses.

Small firm growth: intentions, implementation and impediments

Business Strategy Review, 2006

Recent evidence suggests that many small to medium sized enterprises (SMEs) in the * UK experience difficulty growing from the start-up phase into larger well established firms. This research uses survey data from UK instruments, printing and software SMEs to explore the attitudes of SME managers towards growth, to identify the strategies they pursue to achieve growth, and to establish the main factors they perceive to be limiting their growth. We find that although most managers profess to value growth and follow expansionary strategies, the main limits on the growth of SMEs are the intensity of competition stemming from the recession, and the inability or unwillingness of management to deal with the increased administrative burden arising from expansion.

Towards the Factors affecting Small Firm Growth: Review of Previous Studies

The objective of the paper is to review the previous studies on factors affecting small business growth or performance for the period of 2006-2014. The review of the literature of factors affecting small business growth or performance based on the papers available in online and published in referred journals is focused. 34 papers are considered as the primary research topic. Each of the articles has been used as the unit of analysis. The four broad areas of factors has been focused namely owner-manager characteristics, characteristics of firm, financial factors and external environment. The paper provides some ideas and approaches used in the previous literature to describe small business growth and factors affecting the growth. The literatures suggest that there is no unified theory or model to describe small business growth. Although there are many studies on the issue, still the theory of small business growth is very fragmented and inconsistent. The new theoretical perspectives are highly required for the growth process in small businesses sectors. Considering the approaches used in the previous literature, new research approaches may be adapted for more understanding of small business growth and the growth factors.

Small Business Growth and Performance

The SAGE Handbook of Small Business and Entrepreneurship

Research on business growth has blossomed, yet scholars often complain face the difficulty of distililing a clearer pitcure of the business growth phenomenon. This paper attempts to overcome this limitation by reviewing and synthesizing extant research on business growth. First, we begin by examining Penrose's view of firm growth. Second, we highlight how business growth is measured; these are absolute or relative change and growth as a process. Third, we explore theories of business growth; integrated models-theories that explain the factors that drive business growth and (2) stage models which view business growth as a series of phases or stages of development through which a firm must pass in its life-cycle. Fourth, we examine modes of business growth; these are organic vs. acquisition growth, growth through networks and alliances and growth through internationalization. Fifth, we examine drivers and constraints to business growth. We conclude the review by pointing out areas of harmony and contention in the literature, from which we suggest opportunities for future research.

‘Understanding and Promoting Small Business Growth and Entrepreneurship’, Part 2

Growth is complex, influenced by a multitude of factors, and cannot be predicted. In such a world, as guest editors of this edition, we continue to ask ourselves, and those with whom we work: what can we do to understand better how small businesses achieve growth? What role can we and others play to support their aspirations for growth?

‘Understanding and Promoting Small Business Growth and Entrepreneurship’, Part 1

By drawing on a personal experience of attendance at a conference focused on the growth of SMEs, I challenge how we define, discuss and understand the concept of 'growth'. I highlight three particular approaches, all of which are distinct: ‘output measures’, ‘chance’ and ‘personal and organisational transitions’ and discuss the implications these definitions have for academic, business and policy makers.

The SAGE Handbook of Small Business and Entrepreneurship

2018

Research on business growth has blossomed, yet scholars often complain face the difficulty of distililing a clearer pitcure of the business growth phenomenon. This paper attempts to overcome this limitation by reviewing and synthesizing extant research on business growth. First, we begin by examining Penrose's view of firm growth. Second, we highlight how business growth is measured; these are absolute or relative change and growth as a process. Third, we explore theories of business growth; integrated models-theories that explain the factors that drive business growth and (2) stage models which view business growth as a series of phases or stages of development through which a firm must pass in its life-cycle. Fourth, we examine modes of business growth; these are organic vs. acquisition growth, growth through networks and alliances and growth through internationalization. Fifth, we examine drivers and constraints to business growth. We conclude the review by pointing out areas of harmony and contention in the literature, from which we suggest opportunities for future research.