DEEP Insight

Making It Big as a Small Business Premium

Small and medium-sized enterprises are drivers of many economies. Learn how they can reach greater heights.

This executive dossier includes the following articles:

How to Fuel Healthy Growth Premium

A User's Guide for Small Business Success

Fernández, Albert

There are three main reasons for the chronic shortage of resources faced by many SMEs: financial expectations not adjusted to actual results; the tensions of growth; and poor financial management. In this article, the author explores the most common problems in these three areas and proposes strategies for dealing with them. Solutions might include developing more professional management systems or broadening the sources of financing. Although most SMEs go for conventional forms of financing, such as bank loans, non-traditional alternatives, such as crowdfunding and crowdlending, are increasingly becoming popular.

Five Keys That Will Make or Break Your Business Premium

The Entrepreneurial Society

Kuemmerle, Walter

Why do some entrepreneurial enterprises and business ideas thrive in some countries but not in others? Context, says the author, is key. Drawing on research of 51 enterprises in more than 20 countries, the author identifies five dimensions of the archetypical entrepreneurial society that increase the likelihood that ventures will be started and a higher proportion will flourish, not just growing domestically but expanding internationally. But don't despair if your country doesn't match the blueprint. This article suggests a variety of strategies that can be invoked to compensate for shortcomings in a country context so that new enterprises and existing small or medium-sized enterprises (SMEs) prosper, generating wealth and contributing to economic development and job creation.

What Every Small Business Can Learn From Great Family Firms Premium

The 4C Advantage

Miller, Danny; Le Breton-Miller, Isabelle

For smaller companies that lack the liquidity and the economies of scale and scope enjoyed by large corporations, planning long into the future may seem like a luxury -- but longevity is possible. For inspiration, the authors draw on research they have done on SMEs around the world -- from North America to Europe to South Korea -- many of which are family businesses. The best performers pursued what they call "the 4C's" of Continuity, Community, Connection and Command, turning these features into sources of distinction and competitive advantage. The 4C principles can also find expression in your own firm, large or small, family owned or not, so that your business can likewise flourish for generations.

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