An Investigation Into Smes Survival and the Discrimination Between Fgsmes and All Other Smes

There are plenty of small business arising in the market. But does the success of the busssiness rely solely upon the owners? Can they not trust their employees to carry out the task needed in order to keep the business running properly? This is the question we will be addressing in this dilemma. is it really necessary for the owners to be on the premise at all times? Are personality cults created in small businesses? Is it possible for customers to create a personality cult around the owners of a business? How might the owner go about reducing customer’ dependency upon the presence and/ or personality of the owner and leading customers to depend more on the business itself?

The foundation of the principal owners was to focused on Entrepreneurial Leadership. However, it only incorporated a few behavioral concepts; there was certainly a high degree of enthusiasm and creativity (no lack of passion). There was a visionary perspective combined with tenacity, along with a dislike of hierarchy and bureaucracy. There was certainly an eye of the future, entrepreneurs often look to the future without having perfected the current business process and product.

Business owners run this world, besides senior people. Entrepreneur has responsibilities like no other job in the American nation. They employ everybody, no matter the field. “Owning a vision” is the motivation that runs an organization to its highest point in power, or to the dirty ground (5). If you have the power to vision, use the same power to create that vision. “Providing the proper resources and build a culture” is another primary responsibility of an entrepreneur and is key (5). Choosing the right people to run a business to create a culture will bring moral and heights to your company. “Good decisions deliver the company 's performance (5).” Life is full of decisions and so being an entrepreneur is full of decision, good or bad, a choice needs to be made. While people work, entrepreneurs employ, which takes great responsibilities.

Small businesses occupy a very important place in the economy. These businesses face many of the same problems such as lacking computer experience and do not have sufficient internal computer expertise and decisions as big firms but without the benefit of staff expertise and multiple managerial level. Thus, the top manager or managers

After gaining insights of the history of the development of the SMEs and the motivational factors of young entrepreneurs to establish a business, there is potential obstacles that young entrepreneurs might face in financial options from the start-up. SMEs have difficulties in having access to formal finance and are more financially constrained than larger enterprises. According to Beck and Demirguc-Kunt (2016)’s survey, “the probability that a small firm lists financing as a major obstacle (as opposed to moderate, minor or no obstacle) is 39% compared to 36% for medium-size firms and 32% for large firms.” The result shows that SMEs have a harder time than large enterprises in accessing to finance options. For a reason, Beck and

Entrepreneurial leadership helps develop and sustain elements of the organizational culture. Bergstrom (2004) interpreted that entrepreneurial leadership has three dimensions: 1) take more risk; 2) favor change to obtain the advantage; and 3) compete aggressively. We will discuss the common elements of different theories and philosophies as it relates to the new definition of entrepreneurial leadership. I will discuss my leadership style that I aspire to be, and compare it to dimensions of other leadership styles. Entrepreneurs have a wealth of knowledge at their finger tips using tools and resources available through the Small Business Administration (SBA) and the website SCORE. We will explore

To prosper, small enterprises need comfortable business environment and regulations, adequate basic infrastructure services, access to short and long-term financing at reasonable rates, equity and venture capital, advisory support, and knowledge about market opportunities (Lukács, 2005). They typically suffer from weak entrepreneurial skills as well as deficiencies in accounting, production management, and business planning. As small enterprises develop, they increasingly need connectivity to export markets and the world economy (Lukács, 2005).

Instead, an endless number of issues, whether they be personal issues such as pride and hyper-ambition, financial issues like the rising cost of rents, or administrative issues such as disorganization and miscommunication, can be identified as the root of this widespread problem. In order to better the situation and help our economy, an effective approach must be developed and implemented in every start-up nation-wide. I believe that an effective approach towards solving this problem would include education and training; as research findings suggest a strong and direct correlation between education and entrepreneurial success. Even simple courses in areas such as business management and business administration, or accounting might serve to strengthen the weaknesses in businesses, thereby potentially increasing revenue. Education would clarify the work needed to operate a successful company, and in doing so would help aspiring entrepreneurs and would be failures set realistic goals for themselves and their firms. A firm understanding of what is attainable would lower the expectations of the “dissatisfied lord”, and the “megalomaniac”. Executive training and team-building are not a novel concept, most people understand their effectiveness in achieving cooperation and camaraderie, but in order to maximize efficiency and productivity, greater efforts must be made to

Furthermore to this is the discussion of management themselves. Steward et al (1989) cited in Zhao (2005) highlights the difference between a small business manager and an entrepreneur:

Business growth is a good goal for most firms in general and is given great weight by the society. This could be seen with the list conjured up by the media, such as ‘Forbes Fast-Growing Companies’ and ‘Inc Fastest Growing Companies’ lists (Hupato 2011). The reason small firm growth has been prioritised by policy makers and the society is mainly due to its contribution to the economy (Bridge, O’Neill & Martin 2009). Small firm and entrepreneurship have so often been linked together, and it has become common to acknowledge that all small firms are established by entrepreneurs. Hence, the terms such as growth, success and performance are often linked in the research of entrepreneurial success (Reijonen & Komppula 2007).

A prosperous businesspersons is hard-hitting at the early stage of his business, building the reputation of his business, managing the considerable essential resources/facilities, getting a helpful advice in managing the finance of company, and fulfilling the legal requirement (Carter, Gartner, and Reynolds,1996). Moreover successful organizations have virtuous resources for dealing with financial problems, inside management of the staff and have a defined business plan (Lussier 1995). (Menefee, Michael L.; Parnell, John A. ‘Journal of Applied Management and Entrepreneurship’, Vol. 12, No. 4, October 2007)

One of the most significant decisions an entrepreneur will make will center on the ownership of their organization (Scarborough & Cornwall, 2014, p. 138). This organizational component is crucial to the successful operation of the business and as such, there are a number of considerations entrepreneurs must make when selecting the appropriate ownership model of their small business. The

Over the course of last forty years, the government perceptions and importance of small and medium sized enterprises have changed from being equivalent to technological backwardness and having modest economic contributions to containing such dynamic and innovative enterprises which contribute to and are an integral part of the economic well beings of the governments. Government all over the world have started to shift their focus heavily on SME’s and business enterprise policies related to them because of the social and economic welfare contributed by them. (Storey,

The research article focuses on two major considerations namely growth planning in small organisation as entrepreneurial as well as strategic activity. Growth of small organisations is influenced by the background/resource of the entrepreneur, the nature of the firm, and the strategic decisions taken by the

​The term “SME” is commonly used to refer to Small and Medium-sized Enterprises. The term covers a variety of definitions as well as measures. However, in most of the various definitions of what is an SME, employment is the most widely used criterion for categorizing the size of the firm. Moreover, SMEs are often defined as businesses with fewer than 500 employees. However, a number of countries, including some in the European Union use a lower cutoff of 250 employees. SMEs are important in the economy because they have some unique benefits to the economy chief among these being employment and job creation among others. The following discussion explores the impact of SME to the economy, especially in regards to employment and the creation of jobs among others.