According to Emiel L. Eijdenberg, Leonard J.

Paas, Enno Masurel (2017) that small

business owners who perceive the environment as uncertain are more effectuation-
oriented than causation-oriented; on the other hand, the findings show that
effectuation and causation orientations do not influence later small business
growth. Therefore, other determinants for small business growth in an uncertain
environment should be further explored.

https://www.emerald.com/insight/content/doi/10.1108/JEEE-12-2015-0065/full/html

as claimed by Elijah Abasifreke Paul Udoh & Bamidele Adebisi (2020) Many challenges
continue to hinder digital technologies' adoption by small and medium scale
enterprises (SMEs) in developing economies. Comparatively, there are more success
stories by SMEs in emerging markets. However, most SMEs operating in the informal
sector in the emerging markets and developing economies (EMDEs) face similar
challenges that inhibit the adoption of advanced technologies and innovations
needed to improve business operations and re-engineer processes. This article
evaluates the implementation and use of state-of-the-art technologies by SMEs in
EMDEs to improve operations performance and create sustainable competitive
advantages. Further, the papers in this Special Issue identify FinTech and
analytical algorithms as some of the current technologies employed by SMEs in EMDEs
to improve operations and processes in the manufacturing and service industries.
The recognized technologies and technical innovations that seem novel in EMDEs have
long existed in the advanced economies. Most state-of-the-art technologies,
including cloud computing, 'big data', and predictive analytics that can improve
operations and strategic decisions, are yet to make inroads in most EMDEs. Also,
disruptive computing technologies, data analytics, and the Internet of Things (IoT)
required to engineer new business models, reduce overheads, enhance competitive
advantages, and digitize SMEs' business operations remain untapped. The absence and
non-adoption of digital technologies in EMDEs explain why business activities in
most EMDEs remain shut during the outbreak of SARS-CoV-2 and the community lockdown
to contain the COVID-19 pandemic. The strategies to survive the 'new normal'
imposed by COVID-19 and fierce global competition includes a successful adoption of
advanced technologies.

https://www.tandfonline.com/doi/full/10.1080/08276331.2020.1820185

According to Kimberly Zeuli and Kathleen O’Shea (2017)Growing small businesses is

too often overlooked as
a strategy to support urban job growth and drive the
transformation of distressed inner city neighborhoods.
Moving beyond a traditional economic development perspective focused on large
business attraction and retention will require city leaders and economic
development
professionals to adopt new strategies and develop a comprehensive small business
plan. The strategies outlined
in ICIC’s playbook as summarized here provide an important foundation for this new
approach.

https://www.iedconline.org/clientuploads/Economic%20Development%20Journal/
EDJ_17_Winter_Zeuli-Oshea.pdf

According to Kimberly Zeuli and Kathleen O’Shea (2017) New research from the
Initiative for a Competitive Inner City provides compelling evidence
that small businesses rival, and often exceed, the impact of large businesses in
terms of providing
jobs for local residents. Yet, too often, city leaders and economic developers are
not prioritizing
small businesses in their economic growth plans. Moving beyond the attraction and
retention
of large businesses will require them to adopt new tools and develop a
comprehensive small
business plan. This article provides a snapshot of the share of small business jobs
in five cities
and outlines a small business growth playbook of five key strategies for city
leaders and
economic development professionals

As stated by Ayansola Olatunji Ayandibu, Jennifer Houghton (2017) Despite the fact
that SMEs contribute immensely to the development of a countries economy,
they still have large challenges. If these challenges can be tackled with the
relevant needs to meet
them, surely the economy will get better. As we discussed above that SMEs
contribute a large
percentage of GDP to its economy, special interests should be given to them so as
to make them
perform well and affect the economy positively. SMEs contribution to employment
reduces poverty
etc makes an economy to grow well. It reduces crime rate, since it has provided for
those that are
unemployed .

https://www.jbrmr.com/cdn/article_file/i-26_c-262.pdf

According to Adomako S and Mole KF (2018) Research on business growth has

blossomed, yet scholars often complain face the difficulty of distililing a clearer
pitcure of the business growth phenomenon. This paper attempts to overcome this
limitation by reviewing and synthesizing extant research on business growth. First,
we begin by examining Penrose’s view of firm growth. Second, we highlight how
business growth is measured; these are absolute or relative change and growth as a
process. Third, we explore theories of business growth; integrated models-theories
that explain the factors that drive business growth and (2) stage models which view
business growth as a series of phases or stages of development through which a firm
must pass in its life-cycle. Fourth, we examine modes of business growth; these are
organic vs. acquisition growth, growth through networks and alliances and growth
through internationalization. Fifth, we examine drivers and constraints to business
growth. We conclude the review by pointing out areas of harmony and contention in
the literature, from which we suggest opportunities for future research.

https://bradscholars.brad.ac.uk/handle/10454/17327
.

As stated by Valtteri Kujala,Raija Halonen (2019) The purpose of the current study
was to introduce a solution to support small business to maintain its continuity
and to grow its business in the competition among other companies. Earlier
knowledge reports the role of ERP in managing business and points out ability to
improve ERP systems later. Current ICT-enabled tools enable efficient means to
communicate with customers and other stakeholders, and to add visibility of the
companies. A prototype for an ERP system was built utilizing an open source
platform WordPress and its ready-made plugins. Among other basic ERP features, the
solution offered tools for web publishing and a simple authentication system. Based
on the study, the chosen WordPress infrastructure seemed satisfactory for small
business needs.
https://link.springer.com/chapter/10.1007/978-3-030-16657-1_14

As stated by Dr. Alexander Nikitin, Elvira Klimentova, Alexander Dubovitski (2020)

The paper deals with studying how small business and its innovative activity
actually affect the volume of the regional economy and its growth in modern Russian
reality. Statistical information such as indices and indicators of economy state
and development in the regions of the Russian Federation for 2011-2018 was used for
assessment. It is safe to conclude that the level of gross regional product is most
influenced by the expenditures on research and development; the volume of sales of
innovative goods, works, services, turnover of small enterprises; the share of
small enterprises that implemented technological innovations; the cost of
technological innovations of small enterprises. The efficiency of regional economy
depends on the total efficiency of all its economic entities. It is important to
ensure the productivity of small businesses and their contribution to the gross
regional product in relative terms at a level not lower than that of the average or
the large businesses.

http://revistainclusiones.org/index.php/inclu/article/view/1509

According to Samuel Bonsu,Matthew Kuofie (2019) The growth and sustainability of

small businesses, defined as firms that employ less than 500
people, are essential to the socio-economic developments of a country. The United
States
economy, the best in the world, is based on capitalism thus encourages
entrepreneurship and for
that matter, small business growth. The number of small businesses in the U.S. is
about 27
million and account for 50 percent of the gross domestic product. Current trends
indicate a
decline in small business ownership and growth as closure of retail shops and other
small
business ventures is becoming rather alarming. It is estimated that about 50% of
all new
businesses close within five years of existence. With the advent of technology
giving rise to the
retail giants Amazon, and the growth of the brick and mortar monsters Walmart, the
reasons for
small business closures may not be far-fetched. In this article, the author
proposes that certain
practice of big businesses may be adopted by small businesses, emphasizing on
knowledge of
management and accounting disciplines, a clear value proposition that customers may
relate to, community involvement, and diversification as considerations to mitigate
the closure of small businesses.

https://gsmi-ijgb.com/wp-content/uploads/JMM-V10-N1-P03-Samuel-Bonsu-Business-
Survival.pdf