“…The enterprises have significantly contributed to growth, innovation and success of several societies. Recently, globalization and liberalization have opened many business opportunities for business growth, especially for SMEs in the developing economies, including India (Singh, Bhardwaj, & Sachdeva, 2006), Pakistan (Kureshi & Mann, 2009), Nigeria (Olusanya & Adegbola, 2014), Senegal (Suárez-Ortega, García-Cabrera, & Knight, 2016), South Africa (Muyengwa, Mukhuba, Battle, & Mbohwa, 2013; Ntombekaya, 2010) as well as Namibia (April, 2005). However, globalization and liberalization have also brought about stiff competition at regional and global levels (Ihua, 2009).…”