An insight into Entrepreneurial Success Factors for SMEs: The case of the UK Chemical Distribution Industry

Abstract

The UK chemical distribution industry is a significant, well-established, yet fragmented and subject to strong consolidation, part of the chemical industry and a major contributor to the UK economy and employment. Despite its importance, it remains largely unexplored, with limited research in the factors contributing to the success of small and medium-sized distributors. This paper, being a part of a larger-scale study, addresses a well-established gap in the industry and provides a qualitative perspective of the entrepreneurial (relating to the individual) factors critical to SMEs success. The research is based on the opinions of owners and very senior managers, an approach extensively used by other researchers. A total of 180 SMEs fulfilling the criteria of this study were identified with 118 owners/managers participating, generating a highly satisfactory response rate of 65.5%. The paper not only informs key stakeholders and policy makers with a view to improve strategy formulation and decision-making process in supporting chemical distribution SMEs but also opens new research avenues.

 

Keywords: Critical success factors; Entrepreneurial factors; SMEs; UK chemical distribution industry; Qualitative study


Article Review Status: Published

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