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Critical Success Factors for SMEs in the UK Chemical Distribution Industry: The ‘Brexit’ Effect

In: The Changing Role of SMEs in Global Business

Author

Listed:
  • Evripidis Lampadarios

    (Leeds Beckett University)

  • Niki Kyriakidou

    (Leeds Beckett University)

Abstract

Small and medium-sized enterprises (SMEs) have a strong presence in the UK chemical distribution industry, a major contributor to the UK economy and employment. Brexit, more a phenomenon than a singular event, has irreversibly altered the political arena and introduced an era of uncertainty and volatility. Such a radical occurrence has increased the number of factors critical to success and has thus created a far more complex and challenging environment for UK SMEs to operate in. A distinct shift is noted and certain factors, namely the political environment, financial resources and internationalisation, previously not considered critical are now deemed as highly influential in the success of small businesses in the chemical distribution industry. Regulatory compliance and human capital remain critical, but with their importance reinforced.

Suggested Citation

  • Evripidis Lampadarios & Niki Kyriakidou, 2020. "Critical Success Factors for SMEs in the UK Chemical Distribution Industry: The ‘Brexit’ Effect," Palgrave Studies in Cross-disciplinary Business Research, In Association with EuroMed Academy of Business, in: Alkis Thrassou & Demetris Vrontis & Yaakov Weber & S. M. Riad Shams & Evangelos Tsoukatos (ed.), The Changing Role of SMEs in Global Business, chapter 8, pages 155-177, Palgrave Macmillan.
    • Handle: RePEc:pal:pscchp:978-3-030-45831-7_8
    DOI: 10.1007/978-3-030-45831-7_8
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