Small And Medium-sized Enterprises Managers Research Articles

Social competence and SME performance: extending the nonfinancial perspective

PurposeThe purpose of this paper is to investigate the influence of entrepreneurs’ social competence (SC) on small and medium-sized enterprise (SME) performance.Design/methodology/approachPrimary data of 250 manufacturing SMEs were collected through a survey method. The influence of SC on performance was tested using structural equation modelling (SEM).FindingsOverall, the findings suggest that SC dimensions have a positive influence on SME performance in terms of nonfinancial perspective. More clearly, the findings show that out of five dimensions of SC, which include social adaptability, social perception, social expressiveness, persuasiveness and impression management; social perception, persuasiveness and impression management have direct effect on customer perspective; persuasiveness, social expressiveness and social adaptability have a direct influence on internal business processes and social adaptability, social perception, impression management and social expressiveness are directly related with learning and growth. Contrary to expectations though, social perception and social adaptability were significantly and negatively associated with internal business processes and customer perspective, respectively, while there was no significant correlation between social expressiveness, persuasiveness and impression management with customer perspective, business processes and learning and growth in that order.Practical implicationsThe current study affirms that SMEs managed by entrepreneurs and managers who possess high levels of SC, may have a better performance compared to those operated by entrepreneurs with low levels of SC. This justifies a need for SME entrepreneurs and managers to work hard to improve their SC capabilities.Originality/valueThis study is pertinent and unique because, it extensively examines each of the five dimensions of SC in relation to nonfinancial indicators of SME performance. Besides, the study also provides additional evidence of the impact of SC on SME performance by suggesting that entrepreneurs who are socially competent are more likely to own highly successful ventures.

Adoption and performance outcome of digitalization in small and medium-sized enterprises

AbstractDigital transformation has a profound impact on businesses and various implications for firms. While some effectively navigate this digital shift, harnessing the benefits of modern technologies, many small and medium-sized enterprises (SMEs) struggle to seize the opportunities presented by this transformative process, despite its unprecedented potential. Decision-makers within SMEs often grapple with uncertainty surrounding the digitalization process, leading to hesitancy in embracing available technologies. This qualitative study endeavors to address this challenge by exploring the enablers and barriers of digitalization adoption within SMEs, while also assessing its impact on performance. In-depth interviews were conducted with SME managers, with the results revealing that several factors simplify the process of digitization in SMEs, including the appropriate technologies, and a workforce equipped with the right digital skills to use them. Conversely, we identified elements that pose barriers to digitalization, such as the risk-averse culture prevalent in many SMEs, and their reliance on outdated legacy systems. In summary, our research underscores the importance of a strategic interplay of these elements for effective digitization within SMEs. This study sheds light on the intricacies of the digitalization process, while also providing valuable insights into the factors influencing its adoption and the resulting performance outcomes in the SME context.

Diversity management and firms’ internationalization: Evidence from French SMEs

Although internationalizing small- and medium-sized enterprises (SMEs) are heterogenous as a population, they face similar resource constraints, such that resource management is central to their internationalization efforts. However, the management of diversity, as a specific resource, remains insufficiently studied. Building on resource-based theory, this article explores how SME managers assign value to diversity and implement diversity management across various types of internationalizing SMEs. The multiple-case qualitative study, involving 14 SMEs that represent traditional internationalizers, early internationalizing firms, and born-again globals, reveals that diversity is valued and managed differently by different categories of internationalizing SMEs. For early internationalizing firms, within-type heterogeneity is stronger than between-type heterogeneity. Furthermore, SMEs may value resource diversity as instrumental, terminal, or even destructive, which influences how they manage it. In presenting ideas for the effective strategic management of diversity, as displayed by some SMEs, this article contributes to research on SMEs’ internationalization and diversity management.

The study of human resource management in Chinese SMEs

With the rapid development of China's economy, small and medium-sized enterprises (SMEs) play an important role in promoting national economic growth, creating job opportunities and promoting technological innovation. However, at present, there are many problems in human resource management in China's SMEs, which limit their development potential and competitiveness, such as the lagging management concept, imperfect training mechanism and high employee turnover rate in human resource management. This paper puts forward the corresponding solutions, such as establishing the people-oriented management concept, increasing the training input, optimizing the salary and welfare system and establishing a good promotion mechanism. At the same time, SMEs should adjust and optimize according to their actual conditions to ensure that these strategies can effectively improve the level of human resource management and provide support for the sustainable development of enterprises.

ISOTRIZ: an approach to support SMEs in implementing ISO 9001:2015 using the TRIZ methodology

Quality and innovation are increasingly closer due to the pressures faced by organisations in the management of operational excellence. Currently, companies around the world are facing the consequences of the economic crisis caused by the Covid-19 pandemic, especially small and medium-sized enterprises (SMEs). In the context of SMEs, investments in quality and innovation contribute to increased productivity and competitive capacity. One of the factors to increase the competitive capacity of SMEs is to encourage quality and compliance certification through the ISO 9001. SME managers in general have difficulty with the certification process because there are several barriers faced during this process. Considering the importance of SMEs to the economy, this paper proposes an approach to implement the requirements of ISO 9001:2015 standard in SMEs using the TRIZ methodology. This research is exploratory and qualitative. A case study was carried out in two Brazilian enterprises. As a result, the main critical factors of ISO 9001:2015 and the most appropriate inventive principles to assist in the implementation of these critical factors are presented. This study is innovative for the literature and provides important conclusions for SME managers in the implementation of ISO 9001:2015 requirements.

Research on the Problems and Countermeasures of Monetary Capital Internal Control in Small and Medium-Sized Enterprises

Small and medium-sized enterprises (SMEs) constitute the primary drivers of production within the nation’s existing enterprise landscape. They represent the most dynamic segment of the national economy and play a pivotal role in supporting economic growth, fostering employment, and enhancing people’s livelihoods. However, despite their significant and extensive organizational structures, only a fraction of these companies have established internal control systems, and even fewer possess robust ones. Building upon this premise and considering the prevailing circumstances of SMEs, this paper undertakes an empirical analysis of monetary fund management within this sector. It delves into the operational intricacies, exploring how monetary funds should be effectively implemented to ensure their safety and integrity. Furthermore, it proposes viable strategies to enhance the circulation efficiency of monetary funds, thereby maximizing benefits for enterprises. Addressing these challenges is crucial for SME managers striving to achieve sustainable profit growth and navigate the complexities of financial management.

Adopting human resource information system and work-related outcomes in emerging market SMEs: unified theory of acceptance and use of technology

PurposeThis study investigates the psychological adoption of technology in relation to employees' mental beliefs about using technology in their workplace, because it is necessary to investigate the direct and indirect effects of information systems (IS) on employees' work-related results that underpin creativity and engagement.Design/methodology/approachUsing a cross-sectional design, data were collected from 153 human resource (HR) employees who used human resource information systems (HRIS) in small- and medium-sized enterprises (SMEs) in Malaysia.FindingsThe results show that effective acceptance and adoption of an HRIS enables HR employees and management in SMEs to be creative, balanced and engaged. Facilitating conditions and task-technology fit positively affect the behavioral intention to accept and adopt an HRIS. Additionally, organizational citizenship behavior moderates the relationship between the behavioral intention to accept and adopt an HRIS and employee creativity.Originality/valueThis study significantly advances the fields of human resource management and IS by elucidating the factors influencing employees' adoption of technology. In an effort to address a research gap in existing research, it introduces a unified theory of acceptance and use of technology, which precedes the psychological adoption process by individuals. Furthermore, it offers both empirical and theoretical insights into the interplay between technology adoption factors and their subsequent impact on work-related outcomes.

The predictive robustness of organizational and technological enablers towards blockchain technology adoption and financial performance

PurposeBlockchain technology has brought about significant transformation among organizations worldwide. This study aimed to explore the effects of organizational and technological factors on blockchain technology adoption (BTA) and financial performance (FP) in Pakistan.Design/methodology/approachThis is a co-relational study which used the cross-sectional data. We gathered the data from the managers of Pakistan’s small and medium-sized enterprises (SMEs), which functioned their industries with blockchain technology. We applied convenience sampling to identify the respondents. Finally, we based this study’s findings on 274 valid cases.FindingsWe used structural equation modeling (SEM) in this study, to exert a positive and significant impact on organizational factors such as organizational innovativeness (OI), organizational learning capability (OLC), top management support (TMS) and organizational work climate (OWC) on BTA. In addition, the technological factors, such as complexity (CTY), technology readiness (TR), compatibility (CBTY) and technology capability (TC), have a positive and significant effect on BTA. Finally, this study’s findings show that BTA positively and significantly impacts FP.Practical implicationsThis study’s findings will help policymakers and planners to design policies to adopt other blockchain technologies to improve SMEs’ operations. Moreover, this study’s findings will inspire policymakers and planners to actively seek new ideas, knowledge and skills through acquiring new knowledge to assist with their IT-related decisions.Originality/valueThis study empirically confirms the role of organizational and technology factors toward BTA and FP among Pakistan's SME managers.

Increasing SME Performance Through Quality Information Technology and Top Management Support

This research aims to analyze the influence of information technology quality and top management support on the performance of the city of Semarang. This research contributes to providing feedback for SME managers or owners in making decisions regarding the importance of digitizing accounting, in this case, the accounting information system. This quantitative research uses an explanatory research approach guided by a questionnaire that tests the relationship and influence between research variables. Data analysis was obtained using the SEM approach by analyzing 132 respondents who had used the accounting information system application for at least one year. The research results show that the quality of information technology use and top management support significantly affect SME performance. The implication of this research underscores the importance of investing in improving the quality of information technology and top management support for the performance of small and medium-sized enterprises (SMEs) in Semarang City. It indicates that the utilization of effective accounting information systems and active support from top management can enhance the competitiveness and operational efficiency of SMEs. Therefore, SME managers or owners need to consider adopting and optimizing accounting information systems in their strategic decision-making processes to enhance business performance and growth.

The role of competitor orientation and proactiveness in competitive advantage for small- and medium-sized enterprises performance

Background: As small- and medium-sized enterprises (SMEs) are the primary source of job creation in Nigeria and contribute 48% of the country’s gross domestic product (GDP), their performance must be enhanced and sustainability ensured. The article suggests that through competitor orientation and proactiveness, SME managers and owners can achieve competitive advantage which ultimately promotes firm performance.Aim: The article aims to examine how competitor orientation and proactiveness in competitive advantage enhance the performance of SMEs in Nigeria.Setting: The study focused on registered SME owners and managers who are operating in Nigeria, using Lagos State as a case study.Methods: This study was conducted through administering questionnaires to owners and/or managers of SMEs as the unit of analysis. A quantitative research design was used with stratified and simple random sampling as the sampling method, with the sample comprising 100 SME owners and/or managers.Results: The results of the study indicated that competitive advantage mediates the relationship between competitor orientation, proactiveness and SMEs’ performance indirectly. It further revealed that competitor orientation and proactiveness have significant effects on SMEs’ performance.Conclusion and contribution: The article reveals how competitive advantage, which is influenced by competitor orientation and proactiveness, contributes to increased SMEs’ performance in SME sectors. Thus, to gain a competitive edge over their rivals, the study recommends that SME owners and managers consider competitor orientation and proactiveness more seriously, as these factors ultimately boost their performance.

Innovation capability, strategic flexibility and SME performance: the roles of competitive advantage and competitive intensity

PurposeThis study aims to explore the mediating role of competitive advantage and the moderating role of competitive intensity in the relationship between innovation capability (IC) and small and medium-sized enterprise (SME) performance and between strategic flexibility (SF) and SME performance.Design/methodology/approachThe study adopted a survey research design. The data were collected from a conveniently selected sample of 159 SMEs in Nigeria using a self-reported questionnaire. Mediation and moderation analyses were performed using Hayes' PROCESS macro v3.FindingsResults showed that IC and SF positively affect SME performance. Also, competitive advantage significantly mediates the relationship between IC and SME performance and between SF and SME performance. Additionally, competitive intensity positively and significantly moderates the relationship between IC and SME performance but fails to significantly moderate the relationship between SF and SME performance.Practical implicationsThe findings have managerial implications for SME owners and managers. The findings suggest the need for SMEs to develop more IC and increase their SF. Thus, SME owners and managers should invest more in developing IC and SF. More specifically, they should invest more in research and development, the development of intellectual capital (consisting of human capital, structural capital and relational capital) and new technologies, products, services and processes. Also, they should nurture an innovation culture, encourage creative and innovative acts and allow employees to experiment with new ideas without hindrances.Originality/valueTo the best of the author’s knowledge, this study is the first to provide empirical evidence of the mediating role of competitive advantage and the moderating role of competitive intensity in the relationship between IC and SME performance and between SF and SME performance in the context of emerging economies such as Nigeria. The study validates dynamic capabilities theory by demonstrating that IC and SF are dynamic capabilities that give SMEs a competitive advantage and enhance their performance.

Towards a more flexible SMEs: can HR flexibility spur the nexus between capacity-enhancing HR practices and job performance?

PurposeThe study investigates the mediating effect of HR flexibility in the relationship between capacity-enhancing HR practices and job performance in small and medium-sized enterprises (SMEs) operating in Egypt.Design/methodology/approachOn the basis of the literature review, the results imply a quantitatively tested conceptual model. The model is empirically validated using the partial least squares method to structural equation modelling (PLS-SEM) with survey data from 270 SME owners and managers in Egypt. The sample was selected using a quota sampling approach for small and medium-sized businesses and a proportionate stratification sampling method for the industry and region.FindingsFindings for the sample revealed that capacity-enhancing HR practices affected job performance positively and significantly. The findings also revealed a direct, positive and significant impact of capacity-enhancing HR practices on HR flexibility and HR flexibility on job performance. Functional flexibility was identified as a significant mediator of the capacity-enhancing HR practices-job performance link, whereas behavioural and skill flexibility were not significant mediators for such a relationship.Research limitations/implicationsThe study's cross-sectional design is an evident weakness. All variables were self-reported; this may raise issues regarding method bias. Other limitations include the generalisability of the study's findings outside the setting in which it was conducted. The accuracy of the field study results would have been enhanced if they had not been limited exclusively to the geographical confines of Egypt.Originality/valueThe paper proposes many implications emphasising the role of HR flexibility in enhancing the performance of SMEs. The study developed a mediation model to understand how SMEs boost the performance of human resources by focusing on flexibility dimensions. Accordingly, companies may strategically employ flexible practices and provide an environment that encourages skill and behavioural development.

Crowdfunding adoption in emerging economies: insights for entrepreneurs and policymakers

PurposeCrowdfunding has emerged as an alternative financing tool and recently gained attention to foster entrepreneurial dynamism and innovation. The current research has identified the determinants impacting the behavioral intentions of entrepreneurs to use crowdfunding for financing their small and medium-sized enterprises (SMEs).Design/methodology/approachThe current article is based on a cross-sectional research design. This research collected the data of 422 owners and managers of SMEs through self-administered questionnaires in the Indian National Capital Region (NCR). The responses were collected from July 17 to October 27, 2022. This article used “partial least squares structural equation modeling” (PLS-SEM) for data analysis.FindingsThis article offered a robust model with a high explanatory value of 66% of behavioral intention and 62.1% variance in crowdfunding use behavior. The finding also highlighted that performance expectancy, social influence, facilitating conditions, trialability and perceived value significantly impact behavioral intention. However, effort expectancy and perceived risk insignificantly influence behavioral intention. Notably, facilitating conditions, trialability and behavioral intention positively impact use behavior.Practical implicationsThe results of this study will bridge the gap in empirical research on crowdfunding adoption, shedding light on why entrepreneurs hesitate to adopt crowdfunding for financing. Moreover, these results will offer strategic insights for crowdfunding managers and policymakers, aiding them in making informed decisions.Originality/valueTo the best of the authors' knowledge, this pioneering study built the theoretical framework using three credible technology determinant models. The authors examined crowdfunding-specific contextual factors to improve understanding of the positive effect of technological orientation. This addition assists in strategically arranging entrepreneurs' fundraising conversations more efficiently.

Visualizing the Future of Knowledge Sharing in SMEs in the Construction Industry: A VOSviewer Analysis of Emerging Trends and Best Practices

This review paper systematically synthesizes existing literature on knowledge sharing (KS) and knowledge transfer (KT) in the context of small and medium-sized enterprises (SMEs) in the construction industry, updating previous research and making predictions about emerging issues. The comprehensive literature review employs three different bibliometric techniques: (1) textual analysis of keywords and abstracts to identify relevant research areas, (2) cocitation analysis of references to analyze the evolution of KS and KT in SMEs, and (3) bibliographic linkage analysis of documents to summarize the background and results. The resulting conceptual map outlines the historical development of KS and KT at individual, group, and organizational levels in the construction industry. The study emphasizes the critical significance of KS and KT for SMEs in this industry. It highlights the role of innovation and open innovation in facilitating the successful implementation of KS and KT. The analysis also reveals the need for enhanced knowledge management in SMEs through better data management, implementation of digital systems for internal management, identification of inefficiencies in KT in collaborative networks, and adjustment of knowledge management approaches to suit different cultural and geographic contexts. Finally, the paper suggests future trends in KS and KT, emphasizing the importance of collaboration, continuous learning, technological capabilities, and developing a suitable organizational culture and structure for open innovation in the construction industry. This article offers an innovative approach to KS and KT in SMEs and practical recommendations for improving knowledge management and innovation capacity in construction-related businesses. Its systematic approach and focus on SMEs in the construction industry make it highly relevant for research and business practice.

Entrepreneurial Exposure Effect

The paper investigated whether prior entrepreneurial exposure moderated the effect of entrepreneurial leadership and learning orientation on small and medium-sized enterprises (SMEs) growth. A cross-sectional survey research design was utilized to retrieve data from 471 owners/managers of SMEs in South-West Nigeria. The simple random sampling technique was applied. The results from the pilot study were used to determine the test of reliability and validity of the adapted questionnaire. The partial least squares structural equation modeling (PLS-SEM) analysis findings showed that entrepreneurial leadership and learning orientation effect on SME growth is not significantly moderated by prior entrepreneurial exposure in South-West, Nigeria [(βiz= 0.002, t = 22.771, p>0.05)], although it has a positive effect. SME owners and managers should leverage their entrepreneurial insights and experiences to inform strategic initiatives, foster innovation, and drive growth. Additionally, creating opportunities for knowledge exchange and collaboration among individuals with diverse entrepreneurial backgrounds could enrich the organizational learning process and fuel innovation. Nevertheless, there are no guarantees that prior entrepreneurial exposure would affect firm growth.

Digital Transformation of SMEs: The Role of Entrepreneurial Persistence and Market Sensing Dynamic Capability

New digital technologies, combined with the challenges faced by the pandemic, have prompted several organizations, including small and medium sized enterprises (SMEs), to innovate their business models. We extent this article by studying the impact of strategic leaders’ entrepreneurial persistence on digital transformation and business model innovation (BMI). We also examine the role of market-sensing dynamic capability in these relationships. To test our hypotheses, we use survey data from 229 owners/CEOs and senior managers of SMEs based in United Arab Emirates. The results show that entrepreneurial persistence positively influences the adoption of digital technologies and BMI. Moreover, the adoption of digital technologies has a positive effect on BMI and mediates the direct effects of entrepreneurial persistence on BMI. The mediating influence is positively moderated by market sensing dynamic capability.

The influence of selected financial factors on the survival of SMES in V4 countries

Small and medium-sized enterprises (SMEs) play a crucial role in the global economy. This article examines SMEs’ financial management attitudes in the Visegrad Four countries, aiming to understand how these attitudes impact the firms’ long-term sustainability. The empirical study, conducted in June 2022, involved 1,398 respondents, comprising owners or top managers of SMEs from V4 countries. The research explores various facets of the long-term viability of companies over the next five years. Central to the investigation is understanding how managerial comprehension of critical financial management aspects, the willingness to embrace financial risks, and effective risk management contribute to a company’s enduring success. Additionally, the study assesses how a positive evaluation of a company’s financial performance correlates with its overall longevity in the business landscape.Results indicate that financial management significantly influences SME stability in the medium term. Factors positively affecting SME stability include a proper understanding and management of financial risks, along with a positive assessment of the company’s financial activities. Correlation analysis suggests that the perception of business continuity over a 5-year horizon moderately depends on understanding key financial management aspects, accepting financial risks as part of daily operations, and adeptly managing them. A positive vision of V4 SME management regarding their own future emerged as a crucial factor in the study. In conclusion, the article underscores the importance of effective financial management practices, risk comprehension, and positive self-assessment for SMEs to achieve sustained stability in the dynamic business landscape. AcknowledgmentThis work is supported by Tomas Bata University in Zlin through IGA/FaME/2023/014: CSR as an important factor in obtaining bank loans and external financial sources for SMEs.

Joint effect of entrepreneurship and dynamic capabilities on firm performance: an empirical investigation among ICT-SMEs

PurposeWith the focus on the context of small and medium-sized enterprises (SMEs), this study aims to investigate the joint effects of entrepreneurial leadership, entrepreneurial orientation and dynamic capabilities and the mechanisms of how these factors influence firm performance.Design/methodology/approachA survey from 319 managers in information and communications technology SMEs in Vietnam was conducted, and structural equation modeling was adopted to analyze the collected data.FindingsThe results confirm that dynamic capabilities directly influence firm performance and serve as a mediator that connects entrepreneurial leadership and entrepreneurial orientation with firm performance. Additionally, entrepreneurial leadership was found to have a significant positive impact on entrepreneurial orientation.Originality/valueThis research augments the understanding of entrepreneurship and dynamic capabilities literature by examining the joint effects and mechanisms of how entrepreneurial leadership, entrepreneurial orientation and dynamic capabilities interact to enhance SMEs' performance. Furthermore, this study provides empirical evidence of the strategies that SMEs should pursue to attain favorable performance outcomes.

Sustainable performance management in the EU SME sector. A review and analysis of concepts and methods of strategic management accounting

Purpose: The paper’s main objective is to structure the knowledge of the existing regulatory frameworks, projects and actions that support sustainable performance management (SPM) in small and medium-sized enterprises (SMEs) against the backdrop of the growing significance of the circular economy. The paper will also evidence how strategic management accounting (SMA) assists this process, what individual metrics, dashboards or scorecard concepts have been proposed and how their use may be assessed. Methodology/approach: The research methods include (1) a descriptive systematic analysis of the policies established by the policymakers and regulators in the EU, (2) a comparative analysis of various organisations’ initiatives, actions, delivered toolkits and their outputs, and (3) a literature review of the essential works and research studies on sustainable business models (SBMs), circular business models (CBMs) and SPM in the context of SMEs. Findings: The policies established in the EU support SPM by encouraging SMEs to be involved in sustainable business practices and indicating how to embark on a green transition. Recently, multiple initiatives have been aimed at indicating the opportunities the closed-loop economy system offers SMEs. Many toolkits have also been developed to help SMEs measure their sustainable performance. Although this measurement is vital for SMEs, the business practice falls behind the regulatory framework. Therefore, internal initiatives from the SME sector are needed to popularise the sustainability concept. Research limitations/implications: SMEs show lower levels of compliance with environmental requirements and are unaware of how their activities affect the environment. A limitation of the research is that, in many cases, SMEs are not ready to respond properly to the ESG requirements imposed by regulators. The reason may be a lack of knowledge, experience and limited funds. Therefore, future research should focus on recognizing the gaps in this area and identifying what may be impeding the development of sustainability performance management in SMEs. Originality/value: The work presents the evolution path from the traditional business models (TBMs) through the SBMs to innovative CBMs and addresses their distinctive features. It contributes to the existing knowledge about SMA in SMEs by analysing its links with SPM.

Bookkeeping practices and SME performance: The intervening role of owners’ accounting skills

Aside from statutory requirements, Small and Medium-Sized Enterprises (SMEs) hardly take into consideration reliable accounting systems. Therefore, poor and ineffective bookkeeping has contributed to the collapse of some SMEs. This paper examines the intervening role of owners' accounting skills in the relationship between bookkeeping practices and the performance of SMEs in the Ho Municipal Assembly of Ghana using a sample of 296 SMEs. In a structural equation modelling (SEM) framework, the Smart Partial Least Squares (Smart-PLS) software is employed to analyse the relationships between owners' accounting skills, bookkeeping practices, and the performance of SMEs. We find that bookkeeping practices and owners' accounting skills have significant positive effects on the performance of SMEs. Most importantly, we show the existence of a significant indirect relationship between bookkeeping practices and SME performance such that owners' accounting skills positively intervenes the relationship between bookkeeping practices and SME performance. Thus, in the presence of higher owners’ accounting skills, the relationship between bookkeeping and the performance of SMEs is strengthened further. In a typical emerging economy context, while appropriate regulatory bodies, such as the National Board for Small Scale Industries (NBSSI), in the Ghanaian context, and local revenue collection authorities could put forth measures like periodic compliance audits to ensure that registered SMEs are managed by skilled personnel, fostering them to meet basic requirements for keeping records and managing their accounts to improve their performance, it is worth acknowledging that the onus lies on SME managers to recognise the relevance of good recordkeeping and account management practices to ensure sustained business performance.