This starts a short series on the findings of my final MBA research project. This first one is mainly for the more academically minded.
As a result of the importance of micro-businesses, entrepreneurship and business growth to economic recovery in the UK and beyond after the recent recession, the paper researches the factors that influence women micro-business owners when deciding whether to grow their businesses. It argues that business growth is a function of the level and intensity of focus that owners are able to bring to their businesses. The findings indicate that this in turn is influenced by five factors:
– The identity of the business owner and their identification with the business (to what extent is the business integral to who you are?),
– Their own perception of their skill level (not “do you have what it takes?” but rather “do you know how to resolve the fact that you don’t have everything it takes?”),
– The involvement of a partner in the business (are you doing this alone or are there two of you?),
– The level to which they have integrated the various roles in their lives (have you merged the business into your whole life or are you juggling the various roles you undertake, e.g. parent/carer/…?) and
– The owner’s attitude to growth (is growth a good thing? Or, when you take a good, hard, honest look, would not growing actually be easier for you right now?)
The research recommends that business owners reflect on the issues stated above in order to ascertain the potential for growth. In conclusion, it states the limitations of the project and proposes potential subjects for future research.