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Fighting the Odds: Understanding Small Business Mortality in Low-Income Countries

Samuel Yeboah

MPRA Paper from University Library of Munich, Germany

Abstract: This systematic review examines the factors influencing small business mortality in low-income countries. Small businesses play a vital role in economic development, job creation, and poverty reduction. However, they often face significant challenges that lead to high mortality rates. This review analyses the internal and external factors contributing to small business failure, including poor management, lack of entrepreneurial skills, economic downturns, market competition, regulatory burdens, and technological advancements. The implications of small business mortality, such as job losses, reduced economic output, and personal distress, are also explored. Additionally, the review highlights policy implications, including the importance of strengthening entrepreneurial skills, improving access to finance, streamlining regulatory processes, and facilitating market linkages. Future research directions, such as longitudinal studies and the impact of technology adoption, are identified to further deepen understanding in this area. By addressing the challenges faced by small businesses in low-income countries, policymakers can foster their sustainability and contribute to inclusive economic development.

Keywords: Small business mortality; low-income countries; factors; implications; policy; entrepreneurship (search for similar items in EconPapers)
JEL-codes: L26 M13 O12 (search for similar items in EconPapers)
Date: 2022-06-12, Revised 2022-08-15
New Economics Papers: this item is included in nep-ent, nep-mfd and nep-sbm
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