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Factors Contributory to Success: A Study of Pakistan's Small Business Owners

DOI:10.1142/S1084946707000617
Authors:
Steven Coy at University of Houston - Downtown
Steven Coy
Margaret Shipley at University of Houston - Downtown
Margaret Shipley
Khursheed Omer at University of Houston - Downtown
Khursheed Omer
Rao NISAR A. Khan at www.raojigroup.com
Rao NISAR A. Khan
  • www.raojigroup.com
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Abstract

Small business and entrepreneurship have been at the heart of Pakistan's economy for almost 60 years, yet little (if any) research has been conducted that identifies factors crucial for small business success in Pakistan. In the past, studies identifying factors crucial for small business success have focused primarily on the United States and Western Europe. This paper presents survey results from 265 small business owners located in and around Karachi, the largest city and hub of economic activity in Pakistan. The survey was designed to identify the internal and external factors that Pakistani small businesspersons believe are critical for success.
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FACTORS CONTRIBUTORY TO SUCCESS: A STUDY OF PAKISTAN'S SMALL BUSINESS OWNERS
Steven P Coy; Margaret F Shipley; Khursheed Omer; Rao Nisar A Khan
Journal of Developmental Entrepreneurship; Jun 2007; 12, 2; ABI/INFORM Global
pg. 181
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... Page 5 of 18 Chaniago Journal of Innovation and Entrepreneurship (2022) 11:52 From their research in Pakistan, Coy et. al. (2007) concluded that the criteria for small business success are determined by hard work, good customer service, and product quality. This finding illustrates the entrepreneur's desire or the owner's perspective. Amato et. al. (2017) classified business success to owner's financial and satisfaction. Meanwhile, Walker and Brown (2004) research ...
... From the existing references and the findings of previous researchers, it can be seen that business success can be seen from three perspectives: (1) Finance, focusing on financial and organizational performance; (2) The interests of the owner and entrepreneur, focusing on the aspirations and desires of the entrepreneur/owner. (3) Consumer needs, focusing on consumer desires, such as product quality, service, honesty, friendliness, price of goods, packaging, guarantees, and discounts (Benzing et al., 2009;Chaniago et al., 2019;Coy et al., 2007). In short, business success is defined as achieving company goals related to finance, owner's wishes, and consumer desires within a certain period. ...
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