Proposing a Conceptual Framework for the Study of SME Success in Service Industry: An Appraisal of Theories

Abstract

The objective of this article is to review the extant literature on the factors contributing to the success of Small and Medium-sized Enterprises (SMEs) operating within the service sector. SMEs constitute a significant component of all economies, with the service sector comprising the largest segment of SMEs in most countries. Given the diverse nature of SMEs within the service sector, this appraisal of theoretical work may help researchers and practitioners alike to have a better understanding of SME success factors to inform strategies not only in this sector but also for other sectors of the economy, including but not limited to the industrial sector, financial sector, and manufacturing sector.