Success Factors of Entrepreneurs of Small and Medium Sized Enterprises: Evidence from Bangladesh – Instruments

Success Factors of Entrepreneurs of Small and Medium Sized Enterprises: Evidence from Bangladesh - InstrumentsThey were all SMEs with twenty or fewer employees. This is generally accepted definition of SMEs for this study. Most entrepreneurs were male (92%) and a vast majority of them (58%) had four years college degrees. Majority of them fell in the age group of 31-40. The study relied primarily on the survey method. A survey instrument was developed to capture the information relating to the research objectives. A structured questionnaire was distributed to entrepreneurs. The resulting questionnaire comprised of demographic and environmental information of the respondents and a set of items to measure business success.
Subjective perceptions of the entrepreneurs regarding their success (dependent variable in this study) have been used in our study rather than objective measures. This is in parallel with previous studies (Perez and Canino, 2009; Wang and Ang, 2004). Subjective measures may also reliably assess the success of business and may become best way to obtain information that would otherwise be very difficult to gather (Perez and Canino, 2009). Five-point Likert scale anchored by strongly disagrees and strongly agrees were applied to measure the perceived success that comprised four items, trapped into one variable.. One typical item was: I consider my business successful. Another item was: I consider my business growing. Cronbach’s alpha of the items was.73.
Demographic and Environmental factors are independent variables in this study. As part of capturing demographic information of the respondents, we have included only three demographic characteristics: age, education, and experience. The three factors conform to the suitability of Bangladesh situation. Cronbach’s alpha of the items was.71.
In regard to environmental variables, the respondents were asked to score the importance of seven environmental factors on a scale anchored by very unimportant to very important. All these factors relate to external environment that affect success of the entrepreneurs and conforms to previous research (Indarti and Langenberg, 2005; Huggins, 2000) This part consisted of 27 items, trapped into seven variables.

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