Title: Business development services for micro, small and medium enterprises - literature review of past trends and future directions
Authors: Sandeep Goyal; Bruno S. Sergi; Mark Esposito
Addresses: Institute for Competitiveness, U 24/8, DLF Phase 3, Gurgaon 122 002, Haryana, India ' Davis Center for Russian and Eurasian Studies, Harvard University, CGIS South Building, 1730 Cambridge Street, Cambridge, MA 02138, USA; Department of Economics, University of Messina, Via T. Cannizzaro, 278, 98122 Messina, Italy ' Division of Continuing Education, Harvard University, 51, Brattle Street Cambridge, MA, 02138, USA; Grenoble Ecole de Management, 12 rue Semard, 38000 Grenoble, France
Abstract: This article examines the research literature to understand the current and emerging trends pertaining to the role of business development service (BDS) providers in the performance of micro, small and medium enterprises (MSMEs). The MSMEs account for 60% to 80% of the total jobs thereby posing a key influence in the economic growth of the nations. The availability and access to BDS providers (public and private) is essential for MSMEs to learn and acquire new skills regarding marketing, operations, management, resourcing, technology and innovation. However, the research literature reflects the underdeveloped nature of BDS markets, weak acceptance among the MSMEs, dynamic challenges for the BDS providers and changing market trends from public to private BDS providers. The research objective involves: 1) evaluating the evolutionary aspect of the BDS concept; 2) understanding the definition of BDS providers; 3) identifying the key challenges faced by the BDS providers; 4) identifying the strategic actions undertaken by the BDS providers.
Keywords: literature review; BDS provider; business advice; business development services; BDS challenges; MSMEs.
World Review of Entrepreneurship, Management and Sustainable Development, 2018 Vol.14 No.3, pp.312 - 332
Received: 19 May 2015
Accepted: 07 Jun 2015
Published online: 14 May 2018 *