Ten top tips for small to medium enterprise (SME) success
Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – Owner-managed businesses were once the backbone of successful industry in the UK. However in the post-Second World War decades “big business” became the preferred model, with industries developing around new technologies. Today, as large industry is increasingly moving to countries with lower human-resource costs, the small to medium-sized enterprise (SME) is becoming the business model of choice for UK entrepreneurs. Understanding what makes a SME succeed or fail can provide guidance to both individual business owners and government agencies tasked with promoting economic growth. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.