TITLE:
Success Factors for Small and Medium Enterprises in Oman
AUTHORS:
Adela P. Balasa, Abebe Ejigu Alemu
KEYWORDS:
Entrepreneurs, Demographic Factors, Environmental Factors, SME Success
JOURNAL NAME:
Open Journal of Business and Management,
Vol.10 No.4,
July
18,
2022
ABSTRACT: Small and medium scale enterprises (SMEs) and Entrepreneurship
are crucial components of any economy. Entrepreneurship thrives in economic
systems that support innovation and hard work. Hence, when entrepreneurs become
successful, the nation is immensely benefited. The main aim of this study is to
examine and compare the factors affecting the success of small and medium scale
entrepreneurs in Oman. It is a correlational study between the demographic and
business environment related factors that are expected to contribute to the
success of small and medium scale entrepreneurs in Oman. Cross-sectional survey
with 100 samples was administered. Structured questionnaire was
distributed among selected small and medium scale entrepreneurs in Oman. The
collected data were analyzed using IBM SPSS software version 20. In addition,
descriptive statistics and Chi-square analysis were employed to indicate and
test the relationship between the entrepreneur’s demographic characteristics
and their perception of the factor’s level of influence on entrepreneurial
success. Hence, the results revealed the presence of positive and strong
significant relationship between the entrepreneur’s demographic characteristics
and its perception level on related factors affecting their overall business
success. In addition, the study identified factor/s greatly contributes to an entrepreneur’s success as being
perceived by the selected respondents of the study.