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Examination of decision-making structures' perceptions of components on the influences of SME success
[journal article]
Abstract Small and medium-sized enterprises (SMEs) have succeeded in being the main and dynamic pillar of national and international economies. Education and work experience is essential in increasing SMEs’ efficiency and competitiveness. The changing business environment has created fierce competitiveness a... view more
Small and medium-sized enterprises (SMEs) have succeeded in being the main and dynamic pillar of national and international economies. Education and work experience is essential in increasing SMEs’ efficiency and competitiveness. The changing business environment has created fierce competitiveness among SMEs, requiring active interaction between managers/owners and stakeholders. As a result, this study aims to explore the influence of education, experience, using a business plan, and barriers on the success of small and medium-sized businesses. This research employed an online questionnaire for scientific research. Through ordered logistic modeling, we observed 336 answers from businesses using the qualitative approach. The study’s findings reveal that education and work experience have a statistically favorable influence on the performance of SMEs, whereas barriers have a substantial adverse influence. Findings on barriers are noteworthy in the context of this study since the governing institutions throughout the pandemic and later situations experimented with the measures adopted. The study also benefits SMEs and legislation authorities in understanding the critical concerns that are perceived as barriers to the growth and expansion of SMEs, resulting in the creation of even more sophisticated infrastructures to support sustainable development.... view less
Keywords
small business; medium-sized firm; competitiveness; economic success; management; Kosovo
Classification
Management Science
Free Keywords
SME Performance; Education; Experiences; Business Plan; Obstacles
Document language
English
Publication Year
2023
Page/Pages
p. 236-252
Journal
Journal of Liberty and International Affairs, 9 (2023) 1
ISSN
1857-9760
Status
Published Version; peer reviewed