CHALLENGES AND BARRIERS FOR THE GROWTH OF SMES

Challenges and barriers for the growth of SMEs

Challenges and barriers for the growth of SMEs

Business Growth Central focal area of research in strategy, organization and entrepreneurship. Much research has focused specifically studied the factors affecting the company grow, but to date no comprehensive theory that business is formed there, how they grow (eg, Garnsey, 1996). It seems that even very strong explanatory factors have been identified, although the explanation was presented in different ways.

Scientific community as a part of the whole concept of the development of small businesses and medium enterprises of special importance in finance (see, for protests, class, 1994). Over the past decade, research on the company's development mainly in high growth SMEs. He argues that a small percentage of all small businesses that are helping smaller companies new jobs, (Floor, 1994, Birch et al, 1993) blame. These companies have reported that deer, "brochure," "producers" and "picking winners", "stimulate" win, or "protection" (see, to attend the rally "and focus efforts on was said to them ", Gibb, 1997; Freel, 1998; too and Jennings, 1995).

Recently, a function of the rapidly changing small business question, and the problem is known as "against the deer mouse (Birch et al, 1993) or" unlike trundlers handouts (class 1994) is discussed. In other words, argues the question: Who among them a significant impact on livestock is paid work (Davidsson and Delmar, 1998)? On the other hand, companies that invest in the development of single and professional approach can be too thin, was agreed. Business, and even small increases may be different functions and strategic location in the local financial system (Laukkanen 1999) have. Some very critical due to the development of other businesses or even their look and, well, is absolutely crucial to design professionals on the local level.

In detail, previous research showing that businesses develop a multi-dimensional phenomenon. Among the significant heterogeneity of the parts related to the development and study of investments in associated (Delmar et al, 2003). Recent studies have expanded participation in the development of our understanding of the development model. How Delmar et al. (2003) displayed the form and development company and demographic characteristics of age, for example, companies are subsidiary.

SME development, and often close to the overall viability of this company is connected (eg Johannisson, 1993; Kirchhoff and Phillips, 1989). Growth as a simple assessment of success in business was used (eg floors, 1994). Moreover, as the brush and Vanderwerf (1992) suggest that further development to assess the present value of companies just to survive. In addition, the development of the necessary preconditions for the realization of other economic goals of the company (De Geus, 1997: 53; class, 1994; Reynolds, 1993; Day 1992: 128; Kirchhoff and Phillips, 1989). Saw bits of companies and intermediaries, often a necessary condition for development throughout its life (Floor, 1994: 158). Phillips and Kirchhoff (1989) showed that at least two companies that increase the probability of survival than juvenile launch ...