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