Exploring the Characteristics of Prosperous SMEs in the Caribbean
Williams, D; Ramdani, B
Date: 10 September 2018
Journal
Entrepreneurship and Regional Development
Publisher
Taylor & Francis (Routledge)
Publisher DOI
Abstract
Despite the extensive literature on small business growth and performance,
relatively little is known on the features of firms that have been prosperous
for a long period of time. Adopting Storey’s determinants of growth
framework, this study explores the characteristics of the entrepreneur, the
firm, and the firm’s strategy ...
Despite the extensive literature on small business growth and performance,
relatively little is known on the features of firms that have been prosperous
for a long period of time. Adopting Storey’s determinants of growth
framework, this study explores the characteristics of the entrepreneur, the
firm, and the firm’s strategy contributing to the prosperity of small firms
in the Caribbean. Using multiple case studies from across the region, this
study reveals that SME prosperity in the Caribbean seems to depend on
combining certain characteristics namely, the entrepreneur’s strategic
leadership, networks, and intimate knowledge of products and business
operations, and the firm’s strategy of branding and market diversification.
The findings show that unlike the results from previous studies in large
and developed countries, it is a mix of these characteristics that determines
SME prosperity. Research and policy implications of these findings are
discussed.
Management
Faculty of Environment, Science and Economy
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