FACTORS AFFECTING THE SUCCESS OF SMALL BUSINESS IN MANDEVILLE,
MANCHESTER, JAMAICA.By Sachin Pilli, Ph.d, Sylbourne Meikle, 4th year (Finance), Shaneil Wilson, 4th year (Accounting), Kimoy Wright, 4th
year (Accounting).
• “Success is liking yourself, liking what you do, and liking how you do it.”
Maya Angelou
STATEMENT OF THE RESEARCH PROBLEM
• SMALL BUSINESSSES ARE ESSENTIAL TO THE HEALTH OF THE ECONOMY
• PROVIDES EMPLOYMENT FOR DIFFERENT GROUPS
• HIGH FAILURE RATE IN MANDEVILLE
BACKGROUND OF THE STUDY
• DEFINITION OF SMALL BUSINESSES• MANDEVILLE, A STRATEGIC LOCATION FOR
BUSINESSES• SMALL BUSINESSES NOT LIVING UP TO THEIR
EXPECTATIONS• LIFE SPAN OF SMALL BUSINESSES HAVE BEEN
REDUCED• COMMUNITY DEPENDENCE ON SMALL
BUSINESSES
Research Question
What are the best predictors of the independent variables (marketing strategy, employee training, funding and agility), on the success of small businesses in Mandeville, Manchester?
LITERATURE REVIEW
• DEFINITION OF THE DEPENDENT VARIABLE• WHAT IS THE THEORY • FACTORS AFFECTING THE DEPENDENT VARIABLE• INDICATORS OF THE DEPENDENT VARIABLE • DEFINITION OF THE INDEPENDENT VARIABLES• HISTORICAL BACKGROUND OF THE
INDEPENDENT VARIABLES• PRIOR RESEARCH OF THE INDEPENDENT
VARIABLE
THEORETICAL FRAMEWORK
• THE FOLLOWING FACTORS INFLUENCE SMALL BUSINESS SUCCESS:
• MARKETING STRATEGY• EMPLOYEE TRAINING • FUNDING • AGILITY
METHODOLOGY
• SAMPLE• INSTRUMENT• DATE-COLLECTING PROCEDURE• ETHICAL CONSIDERATIONSDATE ANALYSIS
LIMITATIONS
• NON-RESPONSE• TIME CONSTRAINTS• QUESTIONNAIRES• SAMPLE SIZE
DELIMIMITATIONS
• CONTEX OF THE STUDY• CHOICE OF RESPONDENTS• DURATION OF THE STUDY• CHOICE OF LITERATURE
RESULTS
• TREATMENT OF THE DATA• FINDINGS PERTAINING TO THE RESEARCH
QUESTIONS
Best Predictors
Coefficientsa
Model Unstandardized Coefficients
Standardized Coefficients
t Sig.
B Std. Error Beta
1
(Constant) 1.224 1.470 .832 .415
MKTG_ST .394 .200 .422 1.971 .063
EMP_TRNG.082 .201 .099 .405 .690
FNDG .003 .229 .003 .015 .988
AGTY .205 .227 .195 .905 .376a. Dependent Variable: BUS_SUCS
Final Model for Success of Small Business
Model Unstandardized Coefficients
Standardized Coefficients
t Sig.
B Std. Error Beta
(Constant) 1.224 1.470 .832 .415
MKTG_ST .394 .200 .422 1.971 .063
a. Dependent Variable: BUS_SUCS
IMPLCATIONS
• EMPLOYEE TRAINING AND FUNDING SHOW LITTLE SIGNIFICANCE
• MARKETING STRATEGY AND AGILITY ARE GREATR INDICATORS OF SMALL BUSINESS SUCCESS
RECOMMENDATIONS
• FOR ORGANISATIONS • FOR RESEARCHERS
Thank You