Developing Business Opportunities for Psychological Deprived Communities Leadership

Abstract

In almost all national economies, small and medium-sized enterprises (SMEs) play an important position as core drivers of economic development. There have been concerted attempts to enhance their longevity and ultimate development, focusing on academics, politicians and governments alike. There is a serious challenge to sustainability, and both policy-makers and people in business have to work together. The danger to survival is real, and the condition will be out of hand unless the concerned parties take intensive effort. The research thus aimed to explore the impact on SMEs’ survival in the market abilities (innovation, teamwork, networking and risk-taking). The following aims drove the research objective: defining the role of entrepreneurs’ creativity, teamwork, networking and risk-taking skills in the sustainability of small and medium-sized businesses. The research discussed recent events, and the literature review clarified this. The literature review examined the connection of each of the different market skills with the impact on the worldwide survival of SMEs. The research has therefore selected a descriptive style for analysis. The results showed that the market abilities of SME owners (entrepreneurs) have a strong and important influence on the survival of SMEs (innovation skills, organizational ability, networking and risk-taking skills). This study, therefore, advises that managerial SMEs can implement creative skills to boost their longevity, strengthen leadership skills as key to corporate sustainability and success, ensure they use networking skills to achieve competitive advantages and grow their customer base and follow measured risk-taking strategies therein.