Given the vital role of SMEs for job creation in developing and transitional countries, understanding the drivers of their growth is an important research challengePoverty remains one of the key global challenges. Entrepreneurship has been widely acknowledged as an important driver for economic growth and poverty alleviation. As traditional employment in big companies wilts, small companies and start-ups are becoming more important.
The person is the most important success variable. This is not surprising in a business of one to 50 employees, but has often been neglected in research. In such a small businesses the owner is typically the source of action. He or she is the one making important decisions on products and ways of production, as well as offered services. The business owner deals with important customers, suppliers, and employees — the business can rise or fall based on his or her decisions.
What lessons should we learn from these results? We have to follow a partly new approach to make SA entrepreneurs more successful and reduce the failure rate in future, because up to now important factors contributing to success, such as personal initiative, were not part of entrepreneurial training. It is important that every intervention, such as training, be evidence-based. Too much money was wasted in the past.
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