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Determinants of Success of Small Business: A Survey-Based Study in Kuliyapitiya Divisional Secretariat of Sri Lanka

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  • Dr. J. G. Sri Ranjith

    (Senior Lecturer, Department of Economics and Statistics, University of Peradeniya, Sri Lanka,)

  • Dr. O. G Dayaratna Banda

    (Senior Lecturer, Department of Economics and Statistics, University of Peradeniya, Sri Lanka,)

Abstract

This study primarily aims to examine the determinants of the success of small business. Kuliyapitiya region in Sri Lanka was selected to carry out this research. The results show number of key significant factors for the success of small business. These factors are the family background of the entrepreneur, ability to make decisions, level of training and the amount of money invested on the business. The results indicate that these qualities of entrepreneur tend to be crucially important for the success of the business. The models estimated for the two DS divisional areas, Kuliyapitiya East and West, verify the importance of spatial differences. Therefore, it can be concluded that development of entrepreneurial skills of entrepreneur in small and medium industries is crucial for the success of business, when qualities of entrepreneurs are contextualized in urban settings where there is greater population density.

Suggested Citation

  • Dr. J. G. Sri Ranjith & Dr. O. G Dayaratna Banda, 2014. "Determinants of Success of Small Business: A Survey-Based Study in Kuliyapitiya Divisional Secretariat of Sri Lanka," International Journal of Business and Social Research, LAR Center Press, vol. 4(6), pages 38-50, June.
    • Handle: RePEc:lrc:larijb:v:4:y:2014:i:6:p:38-50
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