Towards a new framework for SMEs success: a literature review

Lampadarios, E; Kyriakidou, Niki; Smith, Gordon

doi:10.1504/ijbg.2017.10001686

Cited by 3 publications

(2 citation statements)

References 46 publications

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“…Research on the success of SMEs is extensive (Simpson et al 2012;Halabí and Lussier 2014), but Lampadarios et al (2017) provided the most elaborate framework on entrepreneurship development and the related success factors. Their framework was developed from existing literature, which included entrepreneurship and SME specific studies and incorporated factors that contribute to all aspects of small business success (growth and non-growth) and failure.…”

Section: Methodsmentioning

confidence: 99%

“…The success factors highlighted by the Chinse-owned SMEs were significantly different (p < 0.01) between the two ethnic groups. Similar success factors were selected in other multi-ethnic entrepreneurial development studies (Benzing et al 2009;Bonet et al 2011;McLarty et al 2012;Lampadarios et al 2017). The main challenges faced by Malay-owned SMEs in the furniture industry were the lack of market and finances, whereas the Chinese-owned SMEs were faced with uncertain raw material supplies, an inconsistent legal and regulatory framework, and an insufficient workforce.…”

Section: Part I: Entrepreneur Success Factorsmentioning

confidence: 97%

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Success factors of small and medium enterprises in the Malaysian furniture industry: Discerning the growth of entrepreneurs

Ratnasingam

Latib

Mariapan

et al. 2021

BioRes

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Entrepreneurs and small and medium enterprises are the foundation of the Malaysian furniture industry. Yet, in a multi-ethnic society such as Malaysia, the success factors of entrepreneurs and small and medium enterprises (SMEs) in the furniture industry have not been studied. Therefore, this study evaluated the success factors of entrepreneurs of the Malay and Chinese ethnic groups in the furniture industry and discerned the growth trajectory of young entrepreneurs from wood science and technology programs in the furniture industry. A questionnaire-based survey was used with the assistance of relevant trade associations and universities. The results were statistically analyzed to establish the significant differences between the two ethnic groups in their perceived success factors. The results revealed that Malay entrepreneurs pay more attention to political and socio-cultural factors to gain success, whereas Chinese entrepreneurs focus on enhancing their competitiveness to remain viable. Further, young graduates showed a reduced desire to pursue a career in the furniture industry, as they deem it not environmentally sustainable in addition to limited career growth. These results suggested that current entrepreneurship development programs may need to be revised, so as to assist in producing more resilient and successful entrepreneurs in the future in the furniture industry.

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Section: Methodsmentioning

confidence: 99%

Section: Part I: Entrepreneur Success Factorsmentioning

confidence: 97%

Success factors of small and medium enterprises in the Malaysian furniture industry: Discerning the growth of entrepreneurs

Ratnasingam

Latib

Mariapan

et al. 2021

BioRes

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Factors Leading to Sustained Growth of SMES in the U.A.E: A Concept Paper

Anand¹,

Banerjee²,

Riaz³

2020

JAREAS

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Purpose: Small and Medium Enterprises (SME) engaged in the business of Trading and Distribution in the United Arab Emirates are characterized by fluctuations in the business performance and growth. Even though 95% of the businesses in the UAE are SME sector, the variations in the growth pattern lead to various challenges which the owner/manager sometimes fails to handle well. The aim of this concept paper is to identify the factors contributing to the sustained growth of SME business in the UAE. Approach/Methodology/Design: The research problem for this study is “how to ensure sustained growth in business for Small and Medium Sized Enterprises in the United Arab Emirates”. The other studies on SME business have focused on SME performance but have not specifically focused on sustaining the performance and growing over a long period of time. This research will specifically focus on the factors contributing to sustained growth and this will be ascertained through quantitative survey of various SMEs in the UAE. Findings: This research aims to find the success factors which can be useful to the SME sector of the UAE in order to achieve sustained growth in business. As a result of this study, a possible matrix will emerge showing a framework to be applied for sustained growth of business for SMEs. Practical Implications: Sustained growth and longevity of the business remains the most important dream of every SME owner/manager, and the final recommendations of this research will result in a framework which would help SMEs in the UAE to have a sustained growth in business. Originality/value: The specific objective of this research is to find “factors that contribute to the sustained growth in business”. This would ensure that, despite the vagaries in the business environment, the SME owner will continue to have a stable business with sustained growth over a long period of time.

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Critical Success Factors for SMEs: An Empirical Study in the UK Chemical Distribution Industry

Lampadarios¹

2016

IJBM

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The UK chemical distribution industry, which is a well-established, fragmented, subject to strong consolidation, significant part of the chemical industry and a major contributor to the UK economy and employment, remains largely unexplored, with no research in the factors contributing to SMEs success. This is the first study to identify the factors critical to small business success and provide an integrative perspective in the specific industry. The research is based on the opinions of owners and very senior managers (Managing Directors, Directors, CEOs and CFOs), an approach extensively used by other researchers. A total of 180 SMEs fulfilling the criteria of this study are identified with 118 owners/managers participating, generating a very satisfactory response rate of 65.5%. Regulatory Compliance, Entrepreneurial Orientation, Customer Relations Management, Market and Product development, Prior Work Experience and Management Skills, Human Capital, Economic Environment and Strategic Planning are established as critical success factors (CSFs). Findings suggest that success is a multidimensional phenomenon where both firm-internal and firm-external factors need to be optimal simultaneously; satisfying one or two factors does not necessarily guarantee success. Strong interrelationships are also revealed amongst the critical and non-critical success factors. The paper contributes towards the integration of SMEs success factors theories and provides guidelines to various stakeholders and policy-makers to improve strategy formulation and decision-making process in supporting chemical distribution SMEs.

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Towards a new framework for SMEs success: a literature review

Cited by 3 publications

References 46 publications

Success factors of small and medium enterprises in the Malaysian furniture industry: Discerning the growth of entrepreneurs

Success factors of small and medium enterprises in the Malaysian furniture industry: Discerning the growth of entrepreneurs

Factors Leading to Sustained Growth of SMES in the U.A.E: A Concept Paper

Critical Success Factors for SMEs: An Empirical Study in the UK Chemical Distribution Industry

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