Why MSMEs are failing: Evidence from the real world

Frederick Crane

Journal of the International Council for Small Business, 2020, vol. 1, issue 3-4, 139-147

Abstract: This article discusses the experience of this researcher in attempting to educate the founders of micro-, small, and medium-sized enterprises (MSMEs) in the hope of assisting them with the survival and growth of their enterprises. The article is based on more than 100 educational workshops that have been completed over two decades, nationwide, involving thousands of MSME founders. In short, this researcher has discovered that most founders of MSMEs lack fundamental business knowledge, fail to appreciate the importance of well-documented factors related to venture success, are often in a state of denial regarding their poor business management acumen, and lack awareness and a willingness to utilize widespread educational resources that could actually help them avoid venture failure. Simply put, MSMEs are failing due to poor management.

Date: 2020
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DOI: 10.1080/26437015.2020.1850153

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