Key Success Factors of SME Entrepreneurs: Empirical Study in Vietnam

Abstract

In the current increasingly competitive environment, productivity and profitability of each organization are strictly associated with its leaders’ management capacity. For the SMEs, their growth and success depend mainly on the entrepreneur’s management capacity. Based on an empirical study of 206 SMEs in Vietnam, this article clarifies five groups of key success factors of SME entrepreneurs. According to results obtained, knowledge on business and management, management skills, certain personal characteristics (such as flexibility, adventurous and punctilious spirit) and experience of SME entrepreneur are the factors that significantly and positively influence the success of SMEs.