An empirical model of small business success

This study examines the extent to which locus of control, decision-making style, and small business strategy predict small business success. Self-admmistered questionnaires were distributed to 578 small business owners in Victoria, Australia. The data were examined using structural equation modelling techniques (LISREL 7.20). The results suggest that to achieve business success beyond survival requires entrepreneurs to develop specific strategies to enhance business growth. Implications for entrepreneurial performance and further research are discussed.