Small Business Success Factors in Regional Queensland

Abstract

This study provides the results of research into small business success factors in Townsville and Thuringowa (Townsville/Thuringowa), Queensland Australia. The purpose of this study was to test for relationships between specific variables as identified in prior literature, and the successful performance of small business in Townsville/ Thuringowa. Consistent with previous studies, this study indicated that the successful performance of a small business is positively related to a number of factors including (a) business size (number of employees), (b) the use of sophisticated accounting systems, and (c) a positive perception by the owner/manager of the economic environment. One finding was against the hypothesized direction, that is, a negative relationship was found between the successful performance of a small business and the age of the owner/manager. It is of note that previous testing for relationships between these two variables has provided equivocal results.