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Early Warning Systems for Small Business: Insights from Across Europe

Author

Listed:
  • Padraig Gallagher

    (Research and Innovation Office, Atlantic Technological University, Letterkenny, Donegal, F92 FC93 Ireland)

  • Tara Doherty

    (Research and Innovation Office, Atlantic Technological University, Port Road, Letterkenny, Donegal, F92 FC93 Ireland)

  • Simon Stephens

    (Faculty of Business, Atlantic Technological University, Letterkenny, Donegal, F92 FC93 Ireland)

Abstract

In this paper we propose that a crisis can be avoided by taking countermeasures, which are informed by an Early Warning System. An Early Warning System can help lessen the impact of crisis episodes and provide a systematic approach to the response of small business owners to challenges in their business environment. Following a review of the literature, we undertook data collection in two stages. In stage one, focus groups were conducted with small business owners in four European countries. In stage two we worked with an expert panel to refine and develop a set of indicators for an Early Warning System. It is envisaged that the set of indicators will serve as the basis for further thought and empiricism. We argue that a delay in crisis recognition curtails the scope and time for corrective action.

Suggested Citation

  • Padraig Gallagher & Tara Doherty & Simon Stephens, 2022. "Early Warning Systems for Small Business: Insights from Across Europe," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 30(04), pages 453-470, December.
    • Handle: RePEc:wsi:jecxxx:v:30:y:2022:i:04:n:s0218495822500157
    DOI: 10.1142/S0218495822500157
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