China plays an more and more significant role in world economy. In the past 30 years, Chinese SMEs(Small and Medium-sized Enterprises) have promoted China's economy development dramatically. For instance, the number of registered SMEs account for more...
China plays an more and more significant role in world economy. In the past 30 years, Chinese SMEs(Small and Medium-sized Enterprises) have promoted China's economy development dramatically. For instance, the number of registered SMEs account for more than 99 percent of enterprises. Every year they contribute around 60 percent of GDP, 50 percent of tax revenue, 68 percent of foreign trade volume, and 80 percent of urban employment. They also contribute for 65 percent of the invention patents and 80 percent of new products in China. However, the average life span of SMEs continue to shorten. According to an survey of SMEs in China, the average life expectancy is less than 4 years. In China, life expectaion is challenged by the rising wages, commodity prices's management. Thus it is worthwhile studying the growth of small business from the aspects of the academic, practical and political fields.
This mainly investigates the influence factors of the growth of the Chinese SMEs. Following the previous literatures, we analyze the influence factors from the followings. That is the characteristics of entrepreneur, enterprise resource, industrial environments, corporate strategy.
Based on questionaries of 131 Chinese SMEs. We find out that the entrepreneurs' experience, technology of corporate resources, market environment of industrial environment can exert positive effect on the quantitative growth. And the entrepreneur's experience and management capabilities, capital resources, human resources, technical resources, equipment and energy of corporate resources, market environment and cultural environment of industrial environment, innovation strategy, cost advantage strategy, organizational strategy of corporate strategy can exert positive impact upon qualitative growth. And the degree of innovation (ie, high-tech business, or general business) can also have positive influence on the company's growth.
The main implications of this study are as follows: Firstly, this study analyzes the determinants of growth of SMEs in China. It can provide general model of growth strategy of Chinese companies.
Secondly, entrepreneurs should accumulate and make full use of management capacities and experiences in order to sustain the growth. Entrepreneurs also have to pay more attention on corporate resources, industry environment, and corporate strategy.
Lastly, government have better highlight the role of human resources, financial resources and energy for the sustainable development of SMEs.
This also has some limitations. The questionnaires are just surveyed from SMEs in the intensified regions, Jiangsu, Zhejiang not nation-wide areas. And to drive more general implications about growth strategy of Chinese SMEs, it is needed to survey the questionnaire nation-widely in the future. It is also necessary to add qualitative analysis about the cases of growth, for more useful results.
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