Factors Affecting SMEs’ Different Stages of Business Growth: A Case Study of Chiangrai Province.

Abstract

This research aimed to study the Factors Affecting Small and Medium Enterprises’ Different stages ofBusiness Growth: A Case Study of Chiangrai Province, and this research also aimed to develop Small and Medium Enterprises’ promotion in different business growth stage in Chiangrai province.Total of 54 entrepreneurs in Chiangrai Province were sampled. Questionnaires, interviews and seminar were used as research instruments. The data were analyzed with descriptive statistics showing frequency distribution, percentage, mean, standard deviation, and summarized with the narrative technique.

            The results showed that, there were many factors affecting overall growth. The most influencing factors were human resource, followed by financial resources. The factors affecting each business stages are: 1) Conception stage, entrepreneurs utilized financial resources the most, followed by physical resources  2) Development/Survival stage, entrepreneurs utilized human resources the most, as well as branding 3) Growth stage, entrepreneurs utilized relationship the most, followed by technology 4) Expansion stage, entrepreneurs utilized culture the most, followed by financial resources 5) Maturity stage, entrepreneurs utilized human resources the most, followed by technology and culture.

            The promotion framework of Small and Medium Enterprises (SMEs) showed that 1) Conception stage : Promotion of financial resource management capabilities to the entrepreneurs, 2) Development stage : Promotion of knowledge and understanding of human resource management, 3) Growth stage : Promotion of knowledge and understanding of business relationship and networking, 4) Expansion stage : Promotion of knowledge and understanding of cultural factors, and 5) Maturity stage :  Promotion of team working strategy.