Determinants of Business Survivability: Literature Review

Abstract

Purpose-The goal of this article was to define the concept of business survivability on the basis of a review of subject literature, as well as to identify the main determinants influencing the survivability of micro and small businesses based on an analysis of empirical studies that most often included a five-year observation of an enterprise-from the moment of its establishment, until it was deregistered, or the observation period was over. Design/Methodology/Approach-The author utilises a review of Polish and foreign subject literature, as well as secondary research regarding the survivability of micro and small businesses in the 20 th and 21 st centuries. Findings-The results suggest significant differences in business survivability depending on the country of origin of a given enterprise. The factors determining business survivability were divided into micro and macroeconomic, and their presence is vital for the company to persevere in turbulent market conditions. Originality/Value-This article is a compilation of definitions of business survivability across foreign and Polish studies of micro and small businesses after 2000. The paper compares the results of business survivability in Poland and western countries.