Title: Towards a new framework for SMEs success: a literature review

Authors: Evripidis Lampadarios; Niki Kyriakidou; Gordon Smith

Addresses: School of Strategy, Marketing and Communication, Leeds Beckett University, The Rose Bowl, Portland Crescent, Leeds, West Yorkshire, LS1 3HB, UK ' School of Human Resource Management and Organisational Behaviour, Leeds Beckett University, The Rose Bowl, Portland Crescent, Leeds, West Yorkshire, LS1 3HB, UK ' The White Sea and Baltic Company Ltd., 8 Kerry Hill, Leeds, West Yorkshire, LS18 4AY, UK

Abstract: SMEs have long been established as an effective mechanism to generate employment and promote economic growth. Even though there has been significant empirical research on the determinants of small business success, there is still no agreed-upon definition of SMEs and business success, no unifying theory and with success factors varying with the business environment (country and industry). Knowledge remains more fragmented than cumulative. This paper reviews and synthesises empirical contributions in the small business success literature from the early 1990s with a view to consolidate knowledge. This is done in the form of a conceptual framework that categorises success factors into entrepreneurial, enterprise and business environment. The paper concludes that more empirical research is needed to develop a more unified approach to SMEs success factors and informs thinking on this critical to policy makers and business owners area.

Keywords: small and medium-sized enterprises; SMEs; critical success factors; CSFs; conceptual framework; literature review; business success; entrepreneurial environment; enterprise environment; business environment; entrepreneurship; small business; small firms.

DOI: 10.1504/IJBG.2017.081954

International Journal of Business and Globalisation, 2017 Vol.18 No.2, pp.194 - 232

Received: 03 Aug 2015
Accepted: 09 Nov 2015

Published online: 11 Jan 2017 *

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