Is there a link between economic growth and SMEs success in South Africa

Scheers, Louise van

doi:10.21511/imfi.13(2-2).2016.09

Cited by 8 publications

(5 citation statements)

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“…The finding supported the evidence provided by Ismail et al [123] that level of national economic development is an important variable influencing CSR understanding and practices, especially in the developing countries. It was also consistent with the findings of van Scheers [124], who revealed a positive link between economic growth and SME success. It is suggested that Malaysian construction firms closely monitor the development of the national economy and immediately respond to any Government programs or policies on the construction sector.…”

Section: National Economic Growthsupporting

confidence: 92%

Critical Success Factors for Corporate Social Responsibility Adoption in the Construction Industry in Malaysia

2019

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In the construction industry, corporate social responsibility (CSR) is increasingly valued as a strategic tool for business sustainable development and for addressing ethical issues. However, understanding the concept of CSR in the construction industry, and how to practice it, is limited. This study aims to explore and assess the factors critical to the successful adoption of CSR in the construction industry through the lens of critical success factors (CSFs) theory. Through a literature review, a list of potential factors that may theoretically have a major impact on CSR adoption in the construction industry was compiled as a proxy. Then, the potential factors were refined and validated by employing a Delphi technique. An expert panel of sixteen qualified Malaysian industry practitioners and academia was assembled. Results from three iteration rounds of the Delphi process depicted that successful adoption of CSR in practices depends upon eight CSFs including financial resources, top management support, managerial or internal skills on CSR, national economic growth, employees’ education and training on CSR, participation of key stakeholders in the CSR process, effective CSR communication, and organizational structure. This study contributes to the field by addressing a theme that has been covered less in literature. Knowing the CSFs for CSR adoption in advance could help the construction firms to successfully integrate CSR into business strategies and minimize the risk of failure. Policy-makers could also consider the findings when promoting the CSR agenda or development programs that adhere to the construction industry’s way forward. Although this study is particularly suited for the Malaysian context, nevertheless, the outcomes could shed some light upon the CSR initiative in other countries, since CSR adoption status in the construction industry overall does not significantly differ between countries.

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Section: National Economic Growthsupporting

confidence: 92%

Critical Success Factors for Corporate Social Responsibility Adoption in the Construction Industry in Malaysia

2019

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“…This means it is undeniable that there a positive relationship exists between economic growth and SME success. Fundamentally, economic growth depends largely on the success of SMEs (Scheers, 2016). However, no specific evidence has been presented on how exactly SMEs contribute to economic growth; the relationship appears to be indirect rather than direct (Ayandibu & Houghton, 2017).…”

Section: Linkage Between Smes and Economic Growthmentioning

confidence: 99%

Understanding the Economic Linkages among Small and Medium Enterprises, Economic Growth, and Employees in Malaysia

Adan

Hussain

Samsudin

2020

Asian Economic and Financial Review

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This paper investigates the linkages among economic growth, small and medium enterprises (SMEs) and employees in Malaysia. It uses the total number of SME employees as a third variable to be associated with economic and SME growth using a panel dataset covering the period from 1998 to 2017. There are five main economic sectors in Malaysia: agriculture, construction, mining, manufacturing and services. The aim of the paper is to provide a better understanding of the relationship between SMEs, economic growth and the number of employees in the different sectors. Our findings indicate various causal relationships among the three variables in different sectors. The results of the study found that Malaysian economic growth contributed to the growth of the SME sector. In contrast, it showed that the growth of the SME sector only contributed to the growth of the manufacturing industry. The information gained will be useful for policymakers and help the government to plan for the future of the country by focusing on worthwhile activity. Contribution/Originality: The paper's primary contribution is finding that SME is a key driver in contributed to the economic growth only in manufacturing activities. Otherwise in other activities, we found that the economic growth was the factor that stimulated the SMEs and at the same time increased the total number of employees.

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“…In South Africa, SMEs account for about 34% of GDP and 60% of all employment and make up 91% of all formalised businesses. There is a positive relationship between SME success and the sustainable economic growth of South Africa (Abor and Quartey, 2010;van Scheers, 2016).…”

Section: Introductionmentioning

confidence: 99%

Entrepreneurial Marketing and Performance of Small and Medium Enterprises in South Africa

Fatoki

2019

J. Rev. Global Econ.

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The study investigated the effect of entrepreneurial marketing (EM) on the performance of SMEs. Performance was measured using both organisational and personal criteria. The study utilised the quantitative research approach. The cross-sectional survey method was used for data collection. Data was collected from small business owners through the survey method. The self-administered questionnaire method was used to collect data from the participants. Convenience and snowball methods were used for sampling. Descriptive statistics and multiple regression were used for data analysis. The Cronbach's alpha was used as the measure of reliability. The results of this study showed significant positive relationships between some dimensions of EM and organisational and personal performance. Theoretically, the study linked EM to the personal performance of the owners of SMEs. Empirically, the study adds to the literature on the relationship between EM and the financial performance of SMEs. Practically, the study suggested recommendations that can improve EM by SMEs.

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Is there a link between economic growth and SMEs success in South Africa

Cited by 8 publications

References 0 publications

Critical Success Factors for Corporate Social Responsibility Adoption in the Construction Industry in Malaysia

Critical Success Factors for Corporate Social Responsibility Adoption in the Construction Industry in Malaysia

Understanding the Economic Linkages among Small and Medium Enterprises, Economic Growth, and Employees in Malaysia

Entrepreneurial Marketing and Performance of Small and Medium Enterprises in South Africa

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