Key factors that influence high performing, sustained growth, high-tech SMEs in South Korea.

What is it about?

This paper explores key factors influencing high performing, sustained growth, high-tech small and medium-sized enterprises (SMEs) in South Korea. This qualitative study explored the views of seventeen founder owner-managers of high-tech SMEs, who had sustained consistent employment growth, greater than the industry average, for 7 years. Those with higher (10% or over) employment Compound Annual Growth Rates were also compared to those with lower rates. The study suggests that proactive approaches, such as flexible organization, risk management, fast decision making, and international market entry, are seen as important contributing factors to sustained growth. These findings contribute to a better theoretical and empirical understand-ing of sustained high-tech SME growth, in a country with a strong entrepreneurial and interna-tionally competitive Information Technology sector. Also, collaboration across the SME was perceived as making an important contribution to staff development and growth, consistent with stewardship theory.

Featured Image

Why is it important?

Key factors identified can be considered by entrepreneurs seeking to achieve sustainable business. These will help policy makers better consoder the complexity of factors related to sustained and high growth of technology-based SMEs, which many countries are keen to foster to aid national economic growth.