---
title: Factors Influencing Growth in Small Firms
description: "| **Entrepreneur/Resources** | **The firm** | **Strategy** | | --- | --- | --- | | Motivation | Age | Workforce training | | Unemployment | Prior business failure | Management training | | Education | Prior Sector experience |…"
url: "https://smeadvisors.in/docs/factors-influencing-growth-in-small-firms/"
updated: "2023-01-25"
category: Knowledge Base
---

# Factors Influencing Growth in Small Firms

| **Entrepreneur/Resources** | **The firm** | **Strategy** |
| --- | --- | --- |
| Motivation | Age | Workforce training |
| Unemployment | Prior business failure | Management training |
| Education | Prior Sector experience | External equity |
| Management experience | Prior firm size experience | Technology, Market positioning |
| Number of founders | Gender | Market adjustments |
| Prior self-employment | Age | Planning, New products |
| Family history | Sector | Management recruitment |
| Social Marginality | Legal form | State support |
| Functional skills | Location | Customer concentration |
| Training | Size | Competition |
|  | Ownership | Information & advice |

Source: Storey, D. J. (1994), Understanding the Small Business Sector, London: Routledge