Micro-entrepreneurs today – Results of a survey of owner-entrepreneurs regarding subjective success factors in German micro-enterprises
- R. Klppel and H. Stummer (2015). International Journal of Economics and Business Research (Inderscience Publishers), 37-53
- Abstract: Micro-enterprises play a decisive role in Europe's economy. In Germany, almost 90% of all businesses - i.e., 3.2 million from a total of 3.6 million - are classified as this type of enterprise with a maximum of nine employees. Although SME research has generally increased during the last years, the majority of studies have involved the medium-sized enterprises and not the micro-enterprises. What comprises success and what are critical success factors for microenterprises? The present study examines 111 German micro-enterprises and determines self-reported critical success factors. Central factors were found to be work ethic and strong customer orientation; in addition, readiness to advertise and willingness to innovate. On the one hand, these conclusions can be seen as helpful approaches to for determining success for micro-entrepreneurs themselves being sustainably successful, on the other hand, it shall help to better understand microenterprises and necessary idiosyncrasy in management research. Copyright 2015 Inderscience Enterprises Ltd.
- Theme: Growth and performance
- Keywords: Business success factors, Customer orientation, Economic research, Entrepreneurs, German micro-enterprises, Management research, Micro-enterprises, Personal characteristics, Readiness to advertise, Small business research, SME research, Success factors, Willingness to innovate
- Reference type: Journal Article
- Geographic location: Germany, Europe, Global North