Nazir, Muhammad Arsalan ORCID: https://orcid.org/0000-0001-5416-9010, Khan, Raza Saleem and Khan, Mohsin Raza (2023) Identifying prosperity characteristics in small and medium-sized enterprises of Pakistan: firm, strategy and characteristics of entrepreneurs. Journal of Asia Business Studies, 18 (1). pp. 21-43. ISSN 1558-7894 (Print), 1559-2243 (Online) (doi:10.1108/JABS-09-2022-0309)

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Abstract

Purpose
The link between SME performance, growth and development is well established; however, the characteristics of SMEs that allow firms to be successful in the long run in an underdeveloped country context, i.e. Pakistan, are still unclear. This paper aims to bridge this gap by identifying the SMEs’ characteristics that set them apart from their rivals and become successful.
Design/methodology/approach
This study uses Storey’s development framework to identify the SMEs’ characteristics. Data is gathered using the case study method from SMEs with a metropolitan context in Pakistan. A narrative methodological framework was used during the data gathering and analysing stages.
Findings
Findings of this study indicate that the prosperity of SMEs in Pakistan is dependent on a combination of characteristics, including entrepreneurial characteristics of owner–managers, knowledge of business operating models, social networks and relationship building and innovation in business style. Additionally, other factors such as governance structure, strategic planning of market diversification and export characteristics also influence the prosperity of an SME. These findings may have several important implications for key stakeholders, including entrepreneurs, SMEs and policymakers in the government.
Originality/value
This research provides evidence about factors that can help an SME to become successful in uncertain situations surrounding a business environment. Theoretically, the contribution of this research is that it demonstrates that entrepreneurial characteristics and the effective leadership style of owner–managers can help SMEs achieve prosperity in external unforeseeable situations.

Item Type:	Article
Uncontrolled Keywords:	SMEs, entrepreneurship and innovation, prosperity characteristics, firm strategy, storey development framework, Pakistan
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce
Faculty / School / Research Centre / Research Group:	Greenwich Business School Greenwich Business School > Executive Business Centre
Last Modified:	19 Feb 2025 20:15
URI:	http://gala.gre.ac.uk/id/eprint/49729

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