A Review of Sustainable Growth Challenges Faced by Small and Medium Enterprises

Abstract

The idea that businesses with a focus on increasing shareholder value were successful is a thing of the past. The last few years have seen a big shift in the trend; now, firms are required to consider social and environmental factors when making choices in order to provide value for all stakeholders in addition to shareholders. The results of earlier studies have confirmed the crucial role that organisations play in shifting the emphasis from rapid development to sustainable development. Small and medium enterprises (SMEs) have been recognized for their socio-economic contribution. Thus, the concept of sustainable growth is extremely relevant to SMEs. In this paper the researcher conducted review of extant literature to trace the conceptual development of sustainable development and growth. The researcher provides a conceptual overview of the challenges of sustainable growth of the SMEs. The study is significant as it extends the knowledge and paves the way for further research.