Abstract
This paper presents the findings of the first phase of a larger research project on inter-country differences of business failure in entrepreneurial firms. This initial phase involves an exploratory comparative study into the perceptions of 20 Small and Medium Size Enterprise (SME) founder-owners in Australia and Malaysia on what they felt were ineffective behaviours and competencies that were strongly associated with their experiences of difficulties or failures in their own ventures. Drawing on real life lessons from the founder-owners on their actions or inactions, the research contributes to the understanding of behavioural differences in the context of business failure between founder-owners in two relatively different cultural settings.
Highlights
In Australia, the SME failure rate is reported to be as high as 23% (Watson, 2003)
Each interview lasted between 11⁄2 to 3 hours and these were transcribed, coded and analysed via content analysis using NVivo to derive key themes and behaviours perceived to be associated with business failure
The aim was to provide some validation of behaviours linked to success by observing the inverse i.e. behaviours associated with business failure
Summary
In Australia, the SME failure rate is reported to be as high as 23% (Watson, 2003). In order to remedy this problem, the Australian government has organised various support mechanisms to increase SME success. These mechanisms include the formulation of policy related to innovation, new technology, managerial development, and business improvement and export skills for SMEs and their owners. Other forms of assistance include: access to information on government assistance programmes; encouraging firm innovation; encouraging networking amongst SMEs; and providing practical assistance and financial support to SMEs (Organisation for Economic Co-operation and Development, 2002)
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