Owner sacrifice and small business growth
Owner sacrifice was studied as a key variable for predicting small business growth dynamics. Using Conservation of Resources Theory, three different types of sacrifice were defined: personal, financial, and relational. Their relation to growth was studied on data collected through structured interviews in 852 small firms in thirteen cities in Turkey. Personal sacrifices in time and effort had a positive effect on continuous growth, both singularly and in interaction with firm's environment, size, and strategic planning. Sacrifices in personal finances were negatively associated with continuous growth, which is interpreted as an outcome of internal financing and risk-avoidance by Turkish firms. Sacrifice as a multi-dimensional construct may be invaluable in studying small business growth in cultures with similar characteristics.
Volume (Year): 47 (2012)
Issue (Month): 3 ()
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