What is Administration

This chapter compares success factors and failure factors of small businesses. In an attempt to determine the relative importance of these factors, the two sets are compared. Thus, each failure factor is related to a corresponding success factor. A discussion of the aspects related to small business success and failure sets the context for the comparison. The relatively more important success factor involves aspects related to administration. Unfortunately, this is the one aspect that most small business owners/managers either lack the skills to perform or the time to allocate to this function. Within the administration, function leadership emerged as a relatively important skill contributing to small business success.