Contemporary analysis of small and medium business failure in Sri Lanka

  • K.G.N.W Abeyrathna
DOI: https://doi.org/10.47494/cajitmf.v2i4.114
Keywords: Contemporary, analysis, small, medium business, Sri Lanka

Abstract

Small and Medium Enterprises (SME) businesses are most important for   Sri Lanka because they make large contribution for the national economy of the country. SME contribute 45% of national income and 52% of total Gross Domestic Product (G.D.P) in Sri Lanka. SMEs represent the 80% of all businesses in Sri Lanka. As a source of employment SMEs contribute 35% of employment of Sri Lanka. According to the  statistics of the industry , SMEs are engaged to the different business in the country such as manufacturing, trading, mining, education, apparel, tourism support services, export and imports, agriculture and different other sectors. In Sri Lanka village based and city-based SMEs are operating around the country. due to the higher value of the SMEs, recent researchers have paid attention on the SME development and related problems of them. With the recent globalization trends and complex economic scenarios, SMEs have to face to the different kind of failures.

References

Amboise., (1992). Management theory for Small Business: Attempts and Requirements, Academy of Management Review, 13(2), pp. 226-240.

Baldwin, J. R., Bian, L., Dupuy, R., & Gellatly, G., (2000). Failure rates for new Canadian firms, new perspectives on entry and exit. Statistics Canada.

Bosma N., Acs ZJ., Autio E., Coduras A., and Levie J., (2009). Global Entrepreneurship Monitor Executive Report. [online], www.gemconsortium.org/download.asp?fid=849

Burns, P., (2001). Entrepreneurship and Small Business. Palgrave. London.pp.120-125.

European federation of accountants (FEE). (2004). Avoiding business failure: A Guide for SMEs. [online], FEE Guide, http://www.fee.be

Gaskill,L.R., Van Auken, H.E.,(1993). A Factor Analytic Study of the Perceived Causes of Small

Business Failure, Journal of Small Business Management 31(4), pp. 18-31.

Keats, B.W. and J.S. Bracker (1988). Toward a Theory of Small Firm Performance: A Conceptual Model. American Journal of Small Business, 12, (Summer), pp.41-58.

Liao J, Welsch H, Moutray C.H., (2009). Start‐up Resources and Entrepreneurial Discontinuance. The Case of Nascent Entrepreneurs. Journal of Small Business Strategies. 19(2), pp. 1-15.

National Policy Framework for Small Medium Enterprise Development, Ministry of Industries., (2016). Viewed 23 October 2020, http://www.industry.gov.lk/web/images/pdf/framew_eng.pdf.

Pretorius M., (2009). Defining Business Decline, Failure and Turnaround: A Content Analysis. Southern Africa Journal of Entrepreneurship of Small Business Management. 2(1), pp. 1-16.

Shane S, (1996). Explaining rates of variation in the Unites States. Journal of Management, 22(1), pp. 747- 781.

Watson, J, Everett, J.E, (1996). Do Small Business Have High Failure Rates. Journal of Small Business Management, 18 (2), pp.12-15.

Wu, W., (2010). Beyond Business Failure Prediction. Expert System with Application, 37(3), pp.2371-2376.

Published
2021-05-15
How to Cite
K.G.N.W Abeyrathna. (2021). Contemporary analysis of small and medium business failure in Sri Lanka. Central Asian Journal of Innovations on Tourism Management and Finance, 2(4), 27-32. https://doi.org/10.47494/cajitmf.v2i4.114
Issue
Vol 2 No 4 (2021): April 2021
Section
Articles

Copyright (c) 2021 K.G.N.W Abeyrathna

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

In submitting the manuscript to the Central Asian Journal of Innovations on Tourism Management and Finance, the authors certify that:

  • They are authorized by their co-authors to enter into these arrangements.
  • The work described has not been formally published before, except in the form of an abstract or as part of a published lecture, review, thesis, or overlay journal.
  • That it is not under consideration for publication elsewhere,
  • The publication has been approved by the author(s) and by responsible authorities – tacitly or explicitly – of the institutes where the work has been carried out.
  • They secure the right to reproduce any material that has already been published or copyrighted elsewhere.
  • They agree to the following license and copyright agreement.

License and Copyright Agreement

Authors who publish with Central Asian Journal of Innovations on Tourism Management and Finance agree to the following terms:

  1. Authors retain copyright and grant the Central Asian Journal of Innovations on Tourism Management and Finance right of first publication with the work simultaneously licensed under Creative Commons Attribution License (CC BY 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
  2. Authors can enter into separate, additional contractual arrangements for the non-exclusive distribution of the Central Asian Journal of Innovations on Tourism Management and Finance published version of the work (e.g., post it to an institutional repository or edit it in a book), with an acknowledgment of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) before and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.