Abstract:
This study investigated critical factors influencing the performance of small businesses in Lesotho.
A sample of owners/managers of small firms completed the questionnaires which helped to arrive
at a successful outcome. A review of literature and inquisitiveness was the basis for the conception
and foundation of the research study. The researcher gave a background information of small firms
business in Lesotho and went further to discuss some theories which helped to get a better
understanding of small firms’ business success, personal characteristics necessary for
owners/managers to succeed in business, management functions, reasons for business failures and
potential resolution strategies. Quantitative research method was employed observing all ethical
issues to ensure participants were not exposed to harm or danger. The analysis of data collected
through a questionnaire containing 70 questions was done. The questionnaire had three sections
(A, B, C): general information, factors influencing business success and participants’
likelihood/satisfaction with their businesses. A total of one hundred (100) owners/managers of
businesses in Lesotho completed the questionnaires. The findings revealed that the features
evaluated by the study were truly significant and the analysis pointed to the most critical factors
and features to consider by small scale business operators in Lesotho. The study was concluded
with a piece on intervention strategies to boost small firms’ business growth in Lesotho and
possible areas of further research which could add more magnificence to small firms’ business
operations in Lesotho.
