Small Business Failure
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An interest in the history of global markets and the management of small businesses prompted me to study HolmesÆ and HaswellÆs article, ôEstimating the Small Business Failure Rate: A Reappraisalö (1989, p. 68). These researchers were interested in discovering the causes of the inordinately high small business failure rates in Australia, a subject that had been studied previously by other researchers but not adequately explained. Holmes and Haswell broke down the problem into several issues: arriving at a meaningful failure rate, determining whether one studyÆs failure rate is more relevant than a conflicting one of another study, and deciding whether the failure rate itself is a useful figure (Holmes & Haswell 1989). They proceeded by examining the rate of failure of small businesses and performed a study of closures among manufacturing firms. Their work and that of a number of research studies cited in the article turned up conflicting answers but also succeeded in identifying some factors operative in the small business failure problem.
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Approximate Word count = 718
Approximate Pages = 3 (250 words per page)
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