This research project explores Entrepreneurship and the Small Businessman.
Small-scale enterprise is widely diversified as to lines of industry, relative size, financial strength and character of management. This diversity is reflected ill the problems experienced by small enterprise managers.
An underlying assertion of this research project is therefore that, in view of these special circumstances and problems, the fundamental skill requirements of small firm managers are primarily of an entrepreneurial nature. It also transpires that a balance between managerial and entrepreneurial skills is absolutely necessary to ensure a successful venture.
There is also an overwhelmi11g presumption that the evident ills of the economic system and the decline of small business have common roots and that action to stimulate small business will have beneficial effects upon the economy as a whole.
Research on small firms and their role in economic development is in its infancy, but I have tried to summarize what is known.