have been a key force in many economies of the
world, and they will continue to maintain their
dominance in future (Arnold, et al. 1984; Mitchell and Reid, 2000). Some have labelled
SMEs as ‘gazelles’, the reasons being their
ability to grow quickly, their flexibility to
adjust to ‘niche opportunities’, a feature of
today’s economyy, and their ability to quickly
adjust to conditions during good and bad
economic times (Mitchell and Reid, 2000;
385). It is argued that only a very small
percentage of SMEs may actually be gazelles
and the vast majority struggle for survival and
continuity in the long run (ibid). There are
numerous reasons for SMEs’ failure to grow
and maintain long-term continuityy, and their ability to quickly
adjust to conditions during good and bad
economic times (Mitchell and Reid, 2000;
385). It is argued that only a very small
percentage of SMEs may actually be gazelles
and the vast majority struggle for survival and
continuity in the long run (ibid). There are
numerous reasons for SMEs’ failure to grow
and maintain long-term continuity