An Exploratory Study of Selected Problems Encountered by Small Businesses in a South African Context

S. M. Van Eeden · Suzette Viviers · Danie J.L. Venter

23 citations0/0 files storedJournal of African Business

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Entrepreneurship Studies and Influences Firm Innovation and Growth Migration, Ethnicity, and Economy

Abstract

The failure rate of small businesses is unacceptably high, and millions of Rands are being lost because of essentially avoidable mistakes and problems. The objective of this paper is to establish to what extent small businesses in a typical South African setting, experience selected problems as negatively influencing the success of their business. Judgmental sampling was used, descriptive statistics were established and a factor analysis was performed. Cronbach Alpha coefficients were calculated to determine the internal reliability of the measuring instrument. The following were identified as the most prominent problem areas influencing small businesses in South Africa, namely: economic factors, competition, socio-economic problems and change. Significant relationships were also identified. Starting a business is risky at best, but the chances of success are enhanced if the problems anticipated are understood and addressed prior to starting the business.

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References

1970Marketing Research 1991Small Business Management: An Entrepreneurial Emphasis 2004Management Principles: A Contemporary Edition for Africa 1993A Factor Analytic Study of the Perceived Causes of Small Business Failure 2000AIDS: The Challenge for South Africa 2006Essentials of managerial finance 1998Taking the Fear out of Data Analysis 1997Strategic Entrepreneurship: A Decision-Making Approach to New Venture Creation and Management

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