Determinants of Success of Small Business: A Survey-Based Study in Kuliyapitiya Divisional Secretariat of Sri Lanka

Jothiratne Ganithage Sri Ranjith

Abstract


This study primarily aims to examine the determinants of the success of small business. Kuliyapitiya region in Sri Lanka was selected to carry out this research. The results show number of key significant factors for the success of small business. These factors are the family background of the entrepreneur, ability to make decisions, level of training and the amount of money invested on the business. The results indicate that these qualities of entrepreneur tend to be crucially important for the success of the business. The models estimated for the two DS divisional areas, Kuliyapitiya East and West, verify the importance of spatial differences. Therefore, it can be concluded that development of entrepreneurial skills of entrepreneur in small and medium industries is crucial for the success of business, when qualities of entrepreneurs are contextualized in urban settings where there is greater population density.

Keywords


Small Business, Divisional Secretariate

Full Text:

PDF

References


Acs, J. Z. (1999). Are Small Firms Important? Their Role and Impact. Boston: Books.google.com.

Acs, Z. J., & Armington, C. (2004). Employment Growth and Entrepreneurial Activity in Cities. Regional Studies, Vol. 38.8,, 911-927.

Acs, Z. J., & Audretsch, D. B. (1988). Innovation in Large and Small Firms. American Economic Review, 78, 678-690.

Asian Development Bank (2013) Sri Lanka: Small and Medium Enterprise Regional Development Project

Atasoy, S. (2004). The Economic Impact and Importance of Microbusinesses to the New England Economy. The University of Maine: A thesis submitted for the degree of Master of Science.

Ayyagari, M., Thorsten B. & Demirgu,-Kunt, A. (2003). Small and Medium Enterprises across the Globe: A New Database. World Bank POLICY RESEARCH WORKING paper 3127. World Bank

Beck, T., Demirguc-kunt, A., & Levine, R. (2005). SMEs, Growth, and Poverty: Cross-Country Evidence. Journal of Economic Growth 10, 199-229.

Berkowitz, D. & DeJong, D. (2005). Entrepreneurship and Post-socialist Growth. Oxford Bulletin of Economic and Statistics 67(1), 25-46.

Bosma, N., Praag, M. V. & Wit, G. d. (2000). Determinants of successful entrepreneurship. Research report 0002/E. Scientific AnaLysis of Entrepreneurship and SMEs.

Central Bank of Sri Lanka (2012). Economic and Social Statistics of Sri Lanka. Colombo.

Central Bank of Sri Lanka (2012) News Survey Vol. 33 No.1 Colombo.

Central Bank of Sri Lanka (1998). Economic Progress of Independent Sri Lanka, Central Bank of Sri Lanka, Colombo, 121-124.

Cravo, T. A., Gourlay, A., & Bettina, B. (2010). SMEs and regional economic growth in Brazil. Small Business Economics, 1-14.

Dababneh, R. & Tukan, F. (2007). Booklet of standardized small and medium enterprises definition-2007. A publication of USAID.

Damayanthi, D. G. S. & Rajapakse, B (2008) The financial information gap: The financial intermediaries and the small and mediu enterprises in Sri Lanka. E-Repository Research Paper 40-47.

Deller, S., & McConnon, J. C. (2009). Microenterprises and economic growth: a panel study of the US states 1977-1997. Applied Economics Letters, 16(13), 1307-1312.

Department of Census and Statistics in Sri Lanka (2010). Annual Survey of Industries 2010: Final Report

Donald, B., Deskins, A. J., Hill, C. B., & Rork, C. J. (2007). Small Business and State Growth: An Econometric Investigation. Washington D.C. : U.S. Small Business Administration, Office of Advocacy.

European Union (2003). Small and medium-sized enterprises (SMEs) What is an SME? (also available at http://ec.europa.eu/enterprise/policies/sme/facts-figures-analysis/sme-definition/index_en.htm ).

Federation of Chambers of Commerce & Industry of Sri Lanka (FCCISL) (2013)

Fraser, S. & Green, F. J. (2006). The effects of experience on entrepreneurial optimism and uncertainty. Economica 73, 169–192.

Gamage, A.S. (2003). Small and medium enterprise development in Sri Lanka: A review 133-150 (also available at http://wwwbiz.meijo-u.ac.jp/SEBM/ronso/no3(4)/aruna.pdf.

Gebremariam, G. H., Gebremedhin, T. G., & Jackson, R. W. (2004). The role of small business in economic growth and poverty alleviation in West Virginia: An empirical analysis. Regional Research Institute, West Virginia University .

Headd, B., & Sadee, R. (2008). Do business definition decisions distort small business research results? U.S. Small Business Administration, Office of Advocacy Working Paper.

Henderson, J., & Weiler, S. (2010). Entrepreneurial and Job Growth: Probing the Boundaries of Time and Space. Economic Development Quarterly Vol. 24 No. 1, 23-32.

ILO, & IILS. (2012). World of Work Report: Better jobs for a better economy. Geneva: ILO.

Lane, M. S., Glen, V. D. V., Delpachitra, S. & Howard, S. (2004). An electronic commerce initiative in Regional Sri Lanka: the vision for the Central Province electronic commerce portal. The electronic journal of information system in developing countries. 16(1) 1-18.

Morgan & Lambe, 2009 Find a way or make one. Economic Development Journal Vol. 8 No.3

Narampanawa, A., Bandara, J., & Selvanathan, S. (2011). Trade and poverty nexus: A case study of Sri Lanka. Journal of Policy Modeling 33, 328-346.

Padmini, K. D. (2000). Sri Lanka (2): APO (Asian Productivity Organization) International Symposium on Management of Industrial Estates through Green Productivity (GP). Penang, Malaysia 206-219. (also available at www.apo-tokyo.org/gp/e_publi/.../Penang_Symp_P206-219.pdf ).

Perera, D. & Wijesinghe, A. (2011) SME Development Strategies for Sri Lanka: Learning Lessons from Neighbouring Countries. Talking Economics, IPS.

Premaratne, S. P. (2011). Networks, resources and small business growth: The experience in Sri Lanka. Journal of Small Business Management 39(4), 363-371.

Rupasingha, A., & Contreras, S. (2010). Factors affecting spatial variation of microenterprises in the rural U.S. Economic Development in Underserved Communities: Where Research and Practice Meet (pp. 1-36). Kansas City: Federal Reserve Bank of Kansas City, Missouri.

Servon, J. L., & Bates, T. (1998). Microenterprise as an Exit Route from Poverty: Recommendations for Programs and Policy Makers. Journal of Urban Affairs, Vol. 20, No. 4, 419-441.

Somaratne, A.L. “Access to finance by SMEs in Sri Lanka” Island Newspaper 2012 August 13

Sri Ranjith & B. Widner (2012) The effect of Microenterprises on Poverty: A cross-county analysis on US urban poverty. Available in proceedings of 58th Annual North American Meetings of the Regional Science Association International 2011, Miami, Florida.

Suresh de Mel, McKenzie, D. & Woodruff, C. (2012) Business Training and Female Enterprise Start-up, Growth, and Dynamics Experimental Evidence from Sri Lanka. Impact Evaluation Series No. 63. Policy Research Working Paper 6145. The World Bank

The World Bank (2011) Small and Medium Enterprises: Engines of Growth in Post Conflict Sri Lanka. News & Views (also available at: http://www.worldbank.org/en/news/2010/09/30/small-medium-enterprises-engines-growth-post-conflict-sri-lanka ).

The World Bank (2007) Sri Lanka Development Forum: The Economy, Regional Disparities, and Global Opportunities




DOI: http://dx.doi.org/10.18533/ijbsr.v4i6.410

Refbacks

  • There are currently no refbacks.




Copyright (c)

 ...........................................................................................................................

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

............................................................................................................................

If you find difficulties in submitting manuscript please forward your doc file to support@thejournalofbusiness.org. Our support team will assist you in submission process and other technical matters.

In order to get notifications on inbox please add  this domain thejournalofbusiness.org in your email safe list.

International journal of business and social research (Print)
ISSN 2164-2540

International journal of business and social research (Online)
ISSN 2164-2559

[International Journal of Business and Social Research (IJBSR) previously published by MIR Center for Socio-Economic Research, MD, USA. From February 2018 this journal is published by the LAR Center Press, OR, USA]