FACTORS CONTRIBUTING TO THE GROWTH OF SMEs: THE SINGAPORE CASE

William C M Tan and Richard S T Tay
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William C M Tan: Formerly Lecturer, School of Accountancy and Business, Nanyang Technological University, Singapore
Richard S T Tay: Department of Decision Sciences & Managerial Economics, The Chinese University of Hong Kong, Hong Kong, China

Journal of Enterprising Culture (JEC), 1995, vol. 03, issue 02, 197-210

Abstract: A survey of Singaporean SMEs was carried out to determine the relationship between the growth of local SMEs and the characteristics of owners and the firm. The study analysed both the demographic and psychological attributes of the owners, as well as firm attributes, such as size and age of the firm. Regression models were constructed to determine the relationship between the growth of SMEs and owners' and firms' characteristics. The results show that the educational level and working experience of owners, their need for achievement and internal locus of control, as well as the age of the business, and the ability of the business to attract government grants correlate significantly with the growth of the firm.

Date: 1995
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DOI: 10.1142/S0218495895000106

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