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Challenges for growing SMEs: A managerial perspective

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  • Daniel Kindström
  • Per Carlborg
  • Tomas Nord

Abstract

The pursuit of growth is a key endeavor of all types of firms, but it is particularly important for SMEs. From a managerial perspective, growing SMEs face a wide range of challenges; this study proposes a broad framework that emphasizes not only the various types of managerial challenges, but also the importance of taking a balanced, broad approach to facing them. In a qualitative study of 44 Swedish SMEs, the researchers identify, map, and aggregate distinct challenges to SME growth, proposing three overarching themes – business model, leadership, and people. Multiple lower-level categories and individual challenges make up each of these themes suggesting that firms that seek to excel in growth should be aware of and manage all three themes in a balanced manner. This research provides insights into each theme and potential consequences for SMEs; it also offers an overarching, integrative perspective on SME growth challenges opening future research avenues.

Suggested Citation

  • Daniel Kindström & Per Carlborg & Tomas Nord, 2024. "Challenges for growing SMEs: A managerial perspective," Journal of Small Business Management, Taylor & Francis Journals, vol. 62(2), pages 700-723, March.
    • Handle: RePEc:taf:ujbmxx:v:62:y:2024:i:2:p:700-723
    DOI: 10.1080/00472778.2022.2082456
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