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Business growth serves a major role in economic development and employment. This paper focuses on growth of micro-enterprises which represent significant proportions of firms in most economies. Using an empirical survey, the importance of key business processes and resources for growth of micro home-based businesses (HBB) is identified and reported by geographic sales scope (local, regional, national and international). The analysis includes evaluation of business indicators, growth strategies, financial resources, social capital, marketing activities, human capital and other core resources for business growth. Results demonstrate the importance of the personal aspirations, energy, commitment, priorities and social networks of the owner/managers, combined with core functional business activities and growth strategies. Similarly, valuing family, industry links and external advisors equally demonstrates the interconnection of personal and business factors. Of the significant differences by geographic sales scale, only five showed increasing importance with increasing scale and market scope.
Clark et al. (Wed,) studied this question.
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