Skip to content
Research Article Open access CC BY 4.0

Approach to Assess and Select Small and Medium Enterprises (SMEs) for Incubation on the Base of Angel Model – a Case on Developing Economies and ENGINE Program

Joseph Asare

Journal of Economics, Management and Trade · pp. 1–28 · Published 24 May 2017

10.9734/BJEMT/2017/31399

Abstract

One key strategy to achieve economic development is to grow the Small and Medium Enterprises (SMEs) sector of the economy. Small and Medium Enterprises (SMEs) scalability (growth or expansion) have become an area of concern for economic growth in developing economies. In view of this many researchers have attempted to come up with some of the indicators that can be used to determine SMEs success. This research literatures reviewed on small and medium enterprises (SMEs) revealed that all SMEs go through different stages of growth, commonly termed as life cycles. Also, a careful study of business theories and common approaches used by institutions to select SMEs for incubation has well established that many factors contribute to SMEs success. The critical question is, “do Business Plan and or other business documents contain all the factors that determine SMEs success?”  This study through the use of the Project Angel Model and the Chaos Theory [1,2] has conducted a careful study into what determines SMEs success and found that no single business document can be used as a perfect gauge of SMEs success.  Further, this study has developed SMEs Success Prediction Model and SMEs Business – Project Success Rater to help gauge SME success. This study also summarizes the many determinants of enterprise growth and classifies them into ten (10) dimensions. The study also proves that individual competencies such as SME owners’ innovativeness, technical knowledge, growth motivation and many more contributes to SMEs success, and enterprise’s scalability (its preparedness to grow) is found to have a positive impact on a firm’s success but not a business plan.  

Small and medium enterprises nongovernmental organization project funding incubation business plan enterprise success determinants innovativeness

References (37)

  1. 1 The Theory of Economic Development [DOI]
  2. 2 Clarifying the Entrepreneurial Orientation Construct and Linking It To Performance [DOI]
  3. 3 Entrepreneurial motivation [DOI]
  4. 4 The Origin and Evolution of New Businesses [DOI]
  5. 5 A MULTIDIMENSIONAL MODEL OF VENTURE GROWTH. [DOI]
  6. 6 The Growth and Failure of U. S. Manufacturing Plants [DOI]
  7. 7 Business Unit Strategy, Managerial Characteristics, and Business Unit Effectiveness at Strategy Implementation [DOI]
  8. 8 Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach
  9. 9 Relationship between innovativeness, quality, growth, profitability, and market value [DOI]
  10. 10 Entrepreneurship Education: Toward a Model of Contingency-Based Business Planning [DOI]
  11. 11 Building an integrative model of small business growth [DOI]
  12. 12 Toward a theory of motive acquisition. [DOI]
  13. 13 An operationalization of Stevenson's conceptualization of entrepreneurship as opportunity‐based firm behavior [DOI]
  14. 14 Entrepreneurial Orientation and Growth of SMEs: A Causal Model [DOI]
  15. 15 Innovation, collaboration and SMEs internal research capacities [DOI]
  16. 16 Institutional forces and the written business plan [DOI]
  17. 17 Critical Success Factors for Small Business: Perceptions of South Pacific Entrepreneurs
  18. 18 Growth aspirations among Norwegian entrepreneurs [DOI]
  19. 19 Defining entrepreneurship [DOI]
  20. 20 Introduction to behavioral research methods
  21. 21 Passionate bricoleurs and new venture survival [DOI]
  22. 22 GROWTH INTENTIONS AND ACTUAL GROWTH: THE IMPACT OF ENTREPRENEURIAL CHOICE [DOI]
  23. 23 Chaos: Significance, Mechanism, and Economic Applications [DOI]
  24. 24 Sample Design in Business Research [DOI]
  25. 25 A study of the factors influencing the operating location decisions of small firms [DOI]
  26. 26 Organizational Theory [DOI]
  27. 27 Growth Determinants of Small Medium Enterprises (SMEs) [DOI]
  28. 28 Small business and job creation: A comment [DOI]
  29. 29 Public sector managers and entrepreneurship in Islamic Republic of Iran [DOI]
  30. 30 The Family Business in Contemporary Society [DOI]
  31. 31 Information Technology Capital, Managerial Human Capital, and Firm Performance: An Empirical Investigation
  32. 32 Beyond competency models in training and development [DOI]
  33. 33 Linkages and rural non-farm employment creation: Changing challenges and policies in Indonesia [DOI]
  34. 34 Investigating the Exponential Age Distribution of Firms [DOI]
  35. 35 Strategy implementation for survival and growth among small to medium-sized enterprises (SMES) in Zimbabwe
  36. 36 Business planning and venture level performance: challenging the institution of planning
  37. 37 The Human Relations Approach and Its Critics

Cited by 2

Findings of Main Obstacles Facing Thai SMEs Towards Business Growth Sustainability

Sumontha Tonvongval, Chamaiporn Tantivong · 2020

MSMEs as Engine of Economic Growth in Nigeria: Challenges and Prospects of Scalability

E. Okon · 2018

Related research

Article metrics

Real usage data collected on this platform.

69

Page views

0

PDF downloads

27

Outbound clicks

2

Citations

Views over time

Views by country

Approximate, from request IP at view time — not citizenship or institution. Countries with fewer than 5 views are grouped as "Other".

Traffic sources

Referring site, by host.

Views and downloads exclude known bots/crawlers. Citations combines this platform's own DOI-resolved index with each external source's own reported total — see Cited by above for individually listed citing works. Last refreshed 0 seconds ago.