TITLE:
The Rise and Fall of Small Business Enterprises
AUTHORS:
Falih M. Alsaaty, Hany H. Makhlouf
KEYWORDS:
Small Business, Affordable Loss, Growth-Stability Strategies, Meaning of Failure
JOURNAL NAME:
Open Journal of Business and Management,
Vol.8 No.4,
July
31,
2020
ABSTRACT: Small business is universally recognized as
the engine of the world economy. It is praised for adding substantially to
every country’s gross domestic product (GDP), employment, innovative ability,
and tax base. However, the survival rate of small businesses in their first ten
years of operation is not high. Only about 20 percent of new business
enterprises survive beyond their first ten years. Of those few are referred to
as gazelles because they grow fast into medium and large corporations, but many
prefer to remain small. This study, which is written to students and potential
entrepreneurs, explores the strengths and weaknesses of small business
enterprises and the factors that contribute to their success or failure.
Hopefully, it would contribute to the literature in the fields of
entrepreneurship and small business administration.