Success Factors of Entrepreneurs of Small and Medium Sized Enterprises: Evidence from Bangladesh

Abstract

In order to assess the factors that affect the success of entrepreneurs of small and medium sized enterprises of Bangladesh, survey data were collected from eighty entrepreneurs from the southern region of Bangladesh selected through random sampling technique. Success factors here refer to demographic characteristics and environmental factors that impede the business success of entrepreneurs of small and medium-sized enterprises of Bangladesh. The results indicate that that the success of the entrepreneurs was correlated to all independent variables in the study and all hypotheses were supported. Lack of infrastructure, sound political environment, access to market and capital were the major factors that positively hindered the success of the entrepreneurs. Experience and education were positively correlated while age was negatively correlated to success. The regression models fit for regression equations were determined by F statistics. The models indicate positive and statistically significant relationship. Altogether demographic variables explained 26.9% of the total variance in Business and Economic Research ISSN 2162-4860 2013 www.macrothink.org/ber 39 success while environmental variables explained 39.8% of the total variance in success.

Factors Determine Small Businesses (SBS) Success in Kuwait

“…Empirical studies on the factors leading to SBs success have pointed to several items such as the characteristic of entrepreneur (Arslan and Kivrak, 2008;Islam et al, 2011;Abdulwahab and Al-Damen, 2015;Bouazza et al, 2015;Okręglicka, 2015;Trang, 2016) training in marketing (Alasadi and Abdelrahim, 2007) government support (Chittithaworn et al, 2010;Uddin and Bose, 2013;Garg and Makukule, 2015) experience of entrepreneur (Chowdhury et al, 2013) location of firm (Ganyaupfu, 2013).…”

“…Traditionally, it is defined as the degree to which SBs goals and expectations are met (Arslan and Kivrak, 2008). It refers to the achievement of goals and objectives (Chowdhury et al, 2013). According to Islam et al (2011) the success of small businesses depends partially on management knowhow, use of modern technology and government policy and support.…”

“…Thailand: (Chittithaworn et al, 2010;Ha et al, 2014). Bangladesh: (Islam et al, 2011;Chowdhury et al, 2013;Uddin and Bose, 2013).…”

“…They identified business plan, channel of distribution, management skills and government support as being statistically significant in determining SMEs success. Chowdhury et al (2013) examined factors that affect the success of entrepreneurs of small and medium sized enterprises in Bangladesh. They found positive relationship between business success and both experience and education and negative relationship with age.…”

Pengaruh Sumber Daya Perusahaan dan Orientasi Wirausaha Terhadap Kinerja Usaha Kecil dan Menengah [Effect of Corporate Resources and Entrepreneur Orientation on Small and Medium Business Performance]

“…Hasil penelitian Chowdhury et al (2013) Sumantri et al (2013) menemukan bahwa pendidikan, pelatihan, usia, asal etnis, dan latar belakang keluarga berhubungan dengan pendapatan usaha; sedangkan pengalaman bisnis berhubungan dengan volume penjualan; dan pendidikan, pelatihan, usia, dan pengalaman bisnis berhubungan dengan perluasan wilayah pemasaran. Selain itu, penelitian ini menemukan kinerja usaha dipengaruhi oleh karakteristik personal, kewirausahaan, lingkungan internal, dan lingkungan eksternal, di mana karakteristik personal wirausaha wanita pada industri pangan rumahan di Bogor adalah variabel yang paling penting yang mempengaruhi kinerja usaha wirausaha wanita.…”