Sje Sri Lankan Journal Of Entrepreneurship
SRI LANK ANJOURNAL OFENTREPRENEURSHIPSeptember 2020DEPARTMENT OF ENTREPRENEURSHIPFaculty of Management Studies and CommerceUniversity of Sri JayewardenepuraGangodawila, Nugegoda, Sri LankaSJE
Sri Lankan Journal of Entrepreneurship ISSN 2513-2741All Rights Reserved SJE is the official scientific journal published by the Department of Entrepreneurship,University of Sri Jayewardenepura by-annually in the months of July and December. Papersreceived on or before 15th of May and 15th September in every year are considered for thepublications of the year. It publishes original papers of high quality, documenting freshgrounds being explored, new methodologies being employed, conceptual discoveries beingmade, or innovative experiments being attempted with a view of expanding knowledgeand insight in the field of Entrepreneurship. The journal also welcomes international,cross-cultural and comparative academic research in Entrepreneurship. The departmentand editorial board reserve the right to determine the format and the style of the journal.Each prospective article is refereed through a double-blind process. The department willcommit to publish only the original contributions to the field of Entrepreneurship byrespective authors.Editors-in-Chief Dr. R.N Weerasinghe Ms. M.P.S.R PereraUniversity of Sri JayewardenepuraUniversity of Sri JayewardenepuraEditorial Board Prof. (Mrs) D. S. R. Samarasinghe Dr. (Mrs) M. D. Pushpa Maldeniyage Dr. P. M. D. Jayathilake Dr. M. M. D. R. Deeghawature Dr. M.V.S.S Udayanga Dr. (Ms.) K. M. V. Sachithra Mr. W. H. T. Gunawardhana Dr. H.K.G.S Ranasinghe Mr. G. M. C. J. B. Gajanayanaka Ms. D.H.B.Y Ranasinghe Ms. P.T.D LiyanageUniversity of Sri JayewardenepuraUniversity of Sri JayewardenepuraRajarata University of Sri LankaWayamba University of Sri LankaUniversity of Sri JayewardenepuraUniversity of Sri JayewardenepuraUniversity of Sri JayewardenepuraUniversity of Sri JayewardenepuraUniversity of Sri JayewardenepuraUniversity of Sri JayewardenepuraUniversity of Sri JayewardenepuraDesigned by:M. H. D. N. Perera (Assistant Lecturer)Department of EntrepreneurshipFaculty of Management Studies and CommerceUniversity of Sri JayewardenepuraCopyrights Department of Entrepreneurship, USJISSN 2513-2741Reprints and permissionssje@sjp.ac.lk
Sri LankanJournal ofEntrepreneurshipSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJ
ContentPage iEditors’ Note ii-iiiDemarcations of the Growth Affecting Factors between the Low Growth and High GrowthSMEs: A Sri Lankan PerspectiveSriyani G.T.W01-17Impact of Infectious Disease Risk Perception on Perceived Retail Crowding: With SpecialReference to Retail Industry in Sri LankaN. H. K. Cooray18-28Relationship between the Antecedents of ICT Adoption and the Business Performance ofSMEs in the Colombo District, Sri LankaM. H. D. N. Perera and M.P.S.R Perera39-48An Empirical Study on Determinants of Business Success of Women Entrepreneurs:Evidence from Gampaha AreaK. A. D. N. Tharaka, D. H. S. W. Dissanayake and N. P. T. Deshika49-68Nurturing Entrepreneurs of Microfinance Institutes: The Social Entrepreneurial Perspectivein the Socio-Cultural Milieu in Sri LankaR. Senathiraja and Pradeep Uluwaduge69-101Examine the Drivers to Engage in Hybrid Entrepreneurship in Sri LankaGihan Jayathilaka and Vilani Sachitra102-131Obstacles for Growth of Small Businesses in Sri Lanka.(With Special Reference to theColombo DistrictU. P. Kapugamage and G.M.C.J.B. Gajanayaka132-141The Impact of Ethical Fashion on Consumer Purchase Intention of the Undergraduates:With Special Reference to Faculty of Management Studies and Commerce, Universityof Sri Jayewardenepura,Sri LankaT. H. Y. D. Thilakaratne and H. K. G. S. Ranasinghe142-160Entrepreneurial Innovation: A Resilience StrategyFriday Ogbu Friday Ogbu Edeh, Onyi Akachukwu Joseph, Ule Prince Alamina,Nelson Chibuike Osueke, Uchenna Onyemaechi161-180Sri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJ
Page iiEditors’ NoteWe are pleased to announce the publication of the first issue of the second volume of theSri Lankan Journal of Entrepreneurship of the Department of Entrepreneurship, Facultyof Management Studies and Commerce, University of Sri Jayewardenepura. The journalwas first introduced in 2019 with the intention of making a platform to the scholars in thefield of Entrepreneurship to publish their scholarly work and disseminate the knowledge.Remarkably, several authors had sent their valuable scholarly works to publish in thejournal where nine from such articles were selected to publish in the current issue.The first article has attempted to reveal the demarcations of the growth affecting factorsbetween the low-growth and high-growth SMEs by selecting a sample of SMEs in theSouthern Province of Sri Lanka. The study revealed that there is a significant differencebetween the two said categories while no such a significant difference could be revealedin the impact of external factors on the business growth.Secondly, the impact of infectious disease risk perception on perceived retail crowd hasbeen investigated with special reference to Retail Industry in Sri Lanka. With a sampleof 100 consumers, the study could find that there is a significant positive influence ofinfectious disease risk on human density as well as on the spatial density. The study alsoprovides with implications to the retail sector on how to cope with the changes arise inthe environment.With the purpose of gaining an in-depth understanding of how the antecedents of ICTAdoption influences on the Business Performance of SMEs in the Colombo District of SriLanka, the third article has been conducted. The findings has shown a positive relationshipbetween the three factors; Technological, Organizational and Environmental and theBusiness Performance of SMEs.Fourth article has focused on revealing the determinants of business success of womenentrepreneurs in Sri Lanka, especially in Gampaha District. The research could find thatthe determinant factors such as human capital factors, network affiliation, environmentalfactors and social factors have a strong positive impact on the business performanceof women entrepreneurs while no such an impact could be revealed in relation toorganizational factors on business success.In the fifth article, the socio-entrepreneurial role of micro finance companies has beenSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJ
examined. The study has revealed that those institutes have been successful in areas suchas granting loans to low-income earners; requiring that clients become entrepreneurs;building long term mentoring relationship with entrepreneurs; providing hands-on-worktraining, visits meetings and workshops. Thus, the study concludes that although microfinance companies’ social values have largely contributed to enhance the development ofentrepreneurship in Sri Lanka.In Sixth article, the drivers that have influenced to engage in Hybrid Entrepreneurship inSri Lanka have been examined. The study could reveal that the sufficient skills acquiredand receiving family support are the significant factors that influence on engaging inHybrid Entrepreneurship.The Seventh paper has focused on obstacles for the growth of small businesses in SriLanka (with special reference to the Colombo District). The study found that lack offinance, market challenges, regulatory issues, lack of infrastructure are the main obstaclesfor the growth of SMEs in Colombo District, Sri Lanka.The next paper examined the impact of ethical fashion on consumer purchase intentionof the undergraduates. The study found an overall positive impact of ethical fashion onconsumer purchase intention that is exhibited through their willingness to pay a premiumand choosing of ethical brands and products over others.The final paper explored about the entrepreneurial innovation resilience strategiesimplemented in Nigerian hospitality firms. It was found that entrepreneurial innovationdimensions measured in terms of service innovation and marketing innovation enhancesthe resilience capacity of the Nigerian hospitality firms.Dr. R. N Weerasinghe and Ms. M.P.S.R PereraDepartment of Entrepreneurship, Faculty of Management Studies and Commerce,University of Sri JayewardenepuraSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJ
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Sri Lankan Journal of EntrepreneurshipVolume 02 Issue 01 September 2020Demarcations of the Growth Affecting Factors between theLow Growth and High Growth SMEs: A Sri LankanPerspectiveSriyani G.T.W.Department of Management and Entrepreneurship, Faculty of Management andFinance,University of Ruhuna, Matara, Sri all and medium scale entrepreneurs are vital for the economic development of anycountry. High failure rate and low survival rate of SMEs obstruct to this expectation,especially among developing countries. Past studies have identified the growthaffecting factors for SMEs as internal and external factors without demarcationbetween high-growth and low-growth SMEs. Studying the distinctiveness of thegrowth affecting factors between low-growth and high-growth SMEs would be usefulto develop a customized mechanism for treating separately for the needful SMEs.This paper aims to reveal the demarcations of the growth affecting factors betweenthe low-growth and high-growth SMEs by selecting a sample of SMEs in theSouthern Province of Sri Lanka. Two hypotheses were formulated based on theexisting research gaps. Independent Sample T-Test and Mean Importance Indexmethod was applied to test the hypotheses. Comparison between the high-growth andlow-growth SMEs revealed that significant difference is there in the impact of internalfactors on the business growth between the low-growth and high-growth SMEs andSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJPage 1
no such a significant difference exists in the impact of external factors on the businessgrowth. This implies that growth affecting factors internal to the firm differentlyeffect on the business growth of high-growth and low-growth SMEs while factorsexternal to the firm affect equally to both types of SMEs. As per the mean importantindexes, owner-manager capabilities including growth orientation, risk-taking ability,innovation and networking ability affect highly on their business growth of highgrowth SMEs meanwhile factors beyond the firm’s control including labour rules andregulations, poor market support systems and ineffectiveness of the BDS servicesaffect highly on the low growth of their firms. The high cost of financing affectshighly for the growth in both categories.Key Words:Business growth, Demarcation, External factors, High-growth and low-growthSMEs, Internal factors1. Introductionemployees between 200-250, in japanSmall and Medium Scale Enterprisesup to 300 employees, and the USA up(SMEs) in any country has beento 500 employees (Berger and Udell,consideredof1998 – cited by Cressy, 2006). In SriSMEs areLanka, as per the “National PolicyvariousFramework for Small and Mediumcountries by using a variety ofEnterprise (SME) Development –parameters including the number of2016”, the number of employeespersons employed, the amount ofbetween 11-50 and annual turnovercapital invested, amount of turnoverbetween 16mn-250mn are consideredetc. By using the number of employeesas small scale enterprises and thein the entity, the European Union (EU)number of employees between 51-300and a large number of OECDand annual turnover between 251mn-(Organization for750mn is considered as medium scaleasthebackboneeconomic on and Development) countriesenterprises.define the SMEs as the number ofSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJPage 2
The development of this SME sectorMoreover, the Sri Lankan Enterprisehas been identified as of paramountSurvey (as cited by Hettiarachchi,importance for any country as a source2013) revealed that compared to theofgeneration,5.2 per cent of the growth rate ofcontribution to the growth of GrossSMEs in the world context, Sri LankanDomesticSMEs reported a very low rate ofemploymentProduction(GDP),embarking on innovations and valuegrowthadditionsotherconcentration needs to be given oneconomic activities, In Sri Lanka, thiswhy such a low growth rate as well assector is vital to the national and localthe high failure rate in the SME sectoreconomic development as it accountsof Sri Lanka.for more than 75% of the total numberSeveral past studies (for example,oftheGunarathne, 2008; KuluppuarachchitheGDP& et al, 2017; Kumarasinghe, 2017)providesmorehave studied the factors affecting theopportunity for women and youthgrowth of this thriving sector ofparticipationeconomicSMEs. As per the existing researchdevelopment of the country (Nationalliterature, these growth affectingPolicySMEfactors have been categorized asDevelopment, 2016). Further, thisowner-manager factors, internal andreport mentioned that “SME sector isexternal factors (Kuluppuarachchi ansforming lagging regions intoIsaksen, 2006).emerging regions of prosperity” (p1).research literature on the demarcationEven though it is believed that theof such growth affecting factorsSMEs contribute significantly for thebetween low growth and high growtheconomic development of the country,SMEs is rare. Therefore, it remainsthe failure rate of SMEs remains verythe question of why some SMEshigh as 45% (Bandara, 2016) withprosper while others are unable to75% of closing down rate within sevensurviveyears of the origin (Jayathilaka, 2016).conditions (Kuluppuarachchi & et al,underHowever, SMEsimilarSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJeconomicPage 3
identificationwhich were identified as hamperingseparately the factors affecting tothe growth of SMEs were mostlygrowth between the low - growth andrelating to the functional areas of thehigh-growth SMEs seems as essentialbusiness including human resources,in the current scenario of Sri Lanka.marketing, finance, and productionHence this study focuses on fulfillingand technological. Other than thesethis research gap by emphasizing thefactors,differences in growth affecting factorsemphasizedbetween low-growth and high-growthcompetenciesandSMEs and if such difference exists,productivityaspect,emphasizing on which factors affectorientation, etc. (Perenyi, 2008; andhighly.Isaksen, rathne (2008)differences in growth affecting factorssubdividedand treat separately for low-growthaffected on the growth of SSEs intoand high-growth SMEs will helpfourachieve the aim of the SME Policycharacteristics of the business, factorsFramework in Sri Lanka (2016) that isthat correspond to its ownership andto promote high potential, promisingorganizationalSMEs and address to the main barriersmanagementto allow them to realize their fullstrategy employed by the business.potentialsMarketing management ionships,2.1.factorsandsuch as lack of marketing effort andbusiness torientation and problems relating toHypotheses Developmentmarketing strategies were widely citedby many researchers (Grimsholm andGrowth affecting factors of SMEsPoblete, 2010; Brush and et al. 2009;have been categorized by manyVerhees and Meulenberg, 2004). Lackresearchers as internal factors andofexternal factors.resources has been considered as oneInternal factorstalentedandskilfulSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJhumanPage 4
whichgrowth of SMEs is constrained bydifferentiate rapid-growth firms fromfinancial inadequacy, lack of access toslow-growth firms (Barringer et al.,new2005, Bartlett and Bukvic, 2001).education of the owner of thePerformance between high growth andenterprise.low growth SMEs were identified(2013) found that the quality of humanbased on lack of know-how on up-to-capital as a strong point for affectingdatefirms’ rapid growth. As per the hnology,levelofArrighetti and Lasagniefficiency, product quality, and non-ofavailability of new and advancedaffecting on the business growth oftechnologyandSMEs, lack of finance, talented andGunathilaka, 2016; Grimsholm andskilful human resources, managementPoblete,andskills and competencies, marketingSME-Whitecapabilities and technical literatureandon internalfactorsofwere identified as highly affectingmanagement skills and competenciesfactors on the growth or performance(Grimsholmof anabanjong et al., 2009) lack offinancialmanagementcapabilitiesAmong the external factors which(Gunarathne, 2008) and businessaffectplanning and strategic orientationcompetition (Bhatti and Dileep, 2012;(Bhatti and Dileep, 2012; Barringe etGrimsholmal., 2005) were identified as mainDasanayake, 2009), lack of BDSinternal factors which affect on thesupport and networking (Bhatti andgrowth in SMEs.Dileep, 2012; Gunarathne, 2008), lackKuluppuarachchiand et al, (2017) highlighted that theofmost perceived obstacle for SMEs asanayake,2009),inadequatefinance which is largely internal to theinfrastructure(Abeyratne,firm and poor management is the otherregulatoryobstacle.and(Wickramasingha, 2011; Nicther &Gunathilake (2016) revealed that theGoldmark,2005; World Bank Report,AmaradiwakaraaccessSMEandpolicySri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJ2005),barriersPage 5
2018; Bartlett & Bukvic,2001), labourresearch studies which have beenmarket issues such as shortage ofaddressed on the demarcation betweenskilledandthe growth affecting factors for thePoblete, 2010; Dasanayake, 2009;low-growth and high-growth SMEsSME White Paper-2002) lack ofare very limited.accessandresearch gap, the following researchWijesinghe, 2011; Grimsholm andhypotheses were developed in thisPoblete, 2010; Nichter and Goldmark,study2005; Dasanayake, 2009; SME WhitedemarcationPaper-2002), market infrastructureconstraints between the low-growth(Kuluppuarachchi & et al, 2017) canand high-growth SMEs.workersto(Grimsholmcredit(Perera,toBased on thisrevealisexistthereinanygrowthbe identified via the review of pastliterature.H1: There is a significant difference inAccording to the World Economicthe impact of internal factors onForum’sthe business growth betweenentrepreneurshipGlobalCompetitivenessReport (2006/7), Sri Lanka’s threehigh-growthmost problematic factors for doingSMEs.andlow-growthbusiness are policy instability, accessH2: There is a significant difference into finance and inadequate supply ofthe impact of external factors oninfrastructurethe business growth between(citedbyKuluppuarachchi and et al, andlow-growth(2016) also revealed that growth vernment.2.2.Sample and Data CollectionThe sample of this study included theSMEs from the members of SmallEnterpriseDevelopmentDivisionAs per the above literature review, a(SEDD), Chamber of commerce andnumber of past studies were addressedIndustries in Galle, Matara andon the factors affecting the businessHambantota districts, and Trade andgrowth of SMEs.MercantileHowever, theassociationsSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJofthePage 6
southern province of Sri Lanka. Cross-facilitators and institutions for SMEsectional survey method was applieddevelopment.to collect primary data from the SMEs.individually attended to collect dataSMEs were defined based on thefrom the SMEs by participating fornumber of employees of the entityseveral discussion forums, training(11-300) as per the criteria of theworkshopsNational Policy Framework for SMEMeetings conducted for SMEs by theDevelopment in Sri Lanka (2016).above mentioned BDS organizations.Further, the enterprise which has atOut of 152 questionnaires wereleast 3 years of existence has beenreceived, 22 questionnaires wereconsidered to include in the sample ofdiscarded due to incomplete responsesthis study. A structured questionnaireandwas used to collect data from thequestionnaires were used.respondents. The first section of thisincluded 91 (70%) male entrepreneursquestionnaire was emphasized theand 39 (30%) female earcherAnnualdataGeneraland130Sampletherespondents and followed by the2.3.profile of the business and next to theAs per the research hypotheses,questions related to business growthinternal factors and external factorsand growth affecting factors whichare the two independent variables ofwere based on the five-point Likert-this study.scale from strongly disagree (1) toconcerned growth affecting factors instrongly agree (5). Growth affectingthe SME research literature, 4 internalfactors were presented as statementsfactors have been included into thethat describe its importance relating tomodel including (i) managementthe firm’s growth.incapability;A set of 159MeasuresBased on the critically(ii)lackofwasentrepreneurial know-how; (iii) poordrawn up under the 31 subcategoriesproduct and process technology; andof factors based on entrepreneurship(iv) lack of marketing capabilities. 13and strategic management itionSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJoftoeachPage 7
entrepreneur relating to these 4 majorgrowth firms have been defined asgrowth constraints internal to the firm.firms that have achieved a salesSeven external factors on businessgrowth of at least 25 per cent in eachgrowthinformationof the 4 years for businesses withbarriers; (ii) credit barriers; (iii)current sales of 5–10 million, or of atinfrastructure barriers; (iv) marketleast 15 per cent for businesses withdifficulties; (v) labour market issues;current sales amounting to 10–100(vi) business rules and regulations;million. Arrighetti and Lasagni (2013)and (vii) BDS services and networkingalso measured growth in terms ofhave been included into the model. 18sales. According to the Nationalsub-factors under these seven majorCommissionexternal growth constraints were used(2001), rapid-growth firms are firmsto determine the extent of the impactwith an increase in headcount by atof external factors on business growth.least 15 per cent per year. As per theBusiness growth is the dependentdefinition of Eurostat/ OECD Manualsvariable of this study. Even thoughon Business demography (2007), allthe business growth of any firm isenterprises with average annualizedusually considered as acriticalgrowth greater than 20 per cent perprecondition for its longevity (Storey,annum, over a three-year period have1994), in measuring the ‘businessbeen considered as “high-growthgrowth’, diverse measurements suchenterprises” and otherwise as “low-as the number of employees, salesgrowth enterprises”. Also, Piazza & etturnover, capital investment, valueal (2016) suggested that the compositeadditions, productivity, etc. were usedgrowth measure which considers bothin the research literature (Nicher andabsolute and relative growth may beGoldmark, 2005; Daunfeldt & et al,more appropriate and many studies2010; Piazza & et al, 2016). Salesused a combination to measuregrowth has been utilized as a singlegrowth.measure of business growth by severalemployees has been widely used as aresearchers (Moreno and Casillas,measure2007). As per Storey (1987), high-(Gunaratne, 2008; Freel and Robson,namely:(i)onEntrepreneurshipMoreover, the number ofofbusinessSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJgrowthPage 8
2002;For testing the hypotheses, the SMEsDavidsson & et al., 2000). However,in the sample had been divided intoresearchers have found a strongtwo categories as “low-growth” rowth” SMEs. The definitionwhichareof OECD Manual for high - growthfrequently used in the SME context,and low - growth enterprises was(North and Smallbone, 1993; Storey etapplied in differentiating the firms asal., 1987).“Low-growthOther than these two measures,growthnumerous measures have been used toenterprises with average annualizeddiscern between high and low growthgrowth greater than 20 per cent perintentions of the entrepreneurs. Byannum, over a three-year period havetaking into account how the businessbeen considered as “high-growthgrowth was measured in the pastenterprises”research literature, this study usedconsideredboth the commencing year and as“low-growthpresent year figures relating to thethree criteria including investment,3. Results and Discussions:sales revenue, and the number ofIndependent Sample T-Test and Meanemployees of the SMEs in the sample.Important Index methods were appliedFurther, the Aggregated Index methodfor data analysis. The T-Test was usedwas used in measuring the businessto compare the statistical significancegrowth. The formula which has beenof a possible difference between theused in the OECD Manual onmeans of two groups of high-growthBusinessStatisticsand low-growth SMEs. As pointed(2007) for calculation of the businessout by Hair et al., (2014, p. 11) with agrowth has been used for this study.moderate effect size power reachesThe formula is as follows:acceptable levels at sample sizes ofDemography100 or more for alpha levels of both.05 and .01. Because the sample sizeof this study is more than 100 and lessSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJPage 9
than 200, alpha levels of both .05 andgrowth SMEs”.01 have been selected. As per theLevene's test is significant because theresults of this study, respondents ratedP-value (0.002) of less than .05 and31 factors in terms of their importancethe two variances are significantlyin influencing their business growth.different. By looking down the EqualImportance indexes were calculatedvariances not assumed column, it canseparately for “High - growth” andbe seen that the group means are“Low – growth” SMEs. By using thesignificantly different as the value inOECD guide, 71 SMEs of the samplethe "Sig. (2-tailed)" row is less thanwere rated as “High-growth SMEs”0.05.and 59 as “Low-growth SMEs”.significant difference in the impact ofThe first hypothesis of this study (H1)internal factors between high-growthassumed that “There is a significantand low-growth SMEs in the sampledifference in the impact of internalof this study.factorshypothesis (H1) of this study can beonthebusinessgrowthbetween the high-growth and lowTable 1:As per Table 1,This implies that there is aHence, the firstaccepted.T-Test Results for Internal Factors and Business GrowthLevene's Test for FEqualityof Sig.VariancestdfSig. (2-tailed)Mean DifferenceStd. Error Difference95% Confidence IntervalLoweroftheDifferenceUpperInternal FactorsEqualEqualvariancesvariances 6-24.46646-15.47545Source: Author Survey 2018/19Sri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJPage 10
The second hypothesis of this studyequal variance and the significance(H2)avalue of .786 (2-tailed) in the equalsignificant difference in the impact ofvariance assumed column implies thatexternal factors on the businessthere is no significant differencegrowth between the high-growth andbetween the two groups of SMEslow-growth SMEs”. Table 2 showsregarding the impact of externalthe Levene's test results of the impactfactors. This tells us external factorsof external factors on business growthcan be considered as having an equalbetween the high-growth and low-influence on both high growth andgrowth SMEs in the sample. The P-low-growth SMEs and hence H2 ofvalue (0.361) of greater than .05 forthis study cannot be accepted.assumedthat“thereisLevene's test shows that there is anTable 2:T-Test Results for External Factors and Business GrowthLevene's Test Ffor Equality of Sig.VariancestdfSig. (2-tailed)Mean DifferenceStd. Error Difference95%ConfidenceInterval Lowerof the DifferenceUpperSource: Author Survey 2018/19External FactorsEqual variancesEqual variancesassumednot 476The findings relating to the differenceof these two groups is significantlybetween the impact of internal factorsdifferent and no difference wasand external factors on the businessrevealed relating to the impact ofgrowth between the high-growth andexternal factors. Due to the lack oflow-growth SMEs show that impact ofprior research on this aspect relating tointernal factors on the business growththe Sri Lankan context, it is impossibleSri Lanka Journal of Entrepreneurship Department of Entrepreneurship, FMSC, USJPage 11
to critique the findings of this studyresponses on the severity of growthwith prior findings. However, as peraffecting factors. Table 3 shows thethe prior research findings of otherhig
Sri Lankan Journal of Entrepreneurship of the Department of Entrepreneurship, Faculty of Management Studies and Commerce, University of Sri Jayewardenepura. The journal was first introduced in 2019 with the intention of making a platform to the scholars in the field of Entrepreneurship to publish their scholarly work and disseminate the knowledge.
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Sri Rama Raksha Stotram Om asya Sri rAmarakShA stotra mahA mantrasya budhakaushika RiShiH srI sItA rAmachandro devatA anuShTup ChandaH sItA shaktiH srImAn hanumAn kIlakam srI rAmachandra prItyarthe Sri rAmarakShA stotra jape viniyogaH Sri Rama protection prayer The sage is Budha Kousika, God is Sri Sita Ramachandra,
Moolamnaya Sri Kanchi Kamakoti Peetam Sri Kanchi Mahaswamigal and Sri Vidyaranya Swamigal by Pujya Sri Atmabodha Tirtha Swamigal (Sri Kumbakonam Swamigal) . Bhagavadgita and Brahmasutram) of Sri Adi Sankara Bhagavadpada from 10.03.1999 to 13.03.2004 (Anusham, Sri Mahaswamigal Nakshatram day) as directed by Sri Kanchi Acharyas. The present Sri .
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Nonetheless, Sri Lanka is a deeply dived society. For more than 80 years, the country has been marred by ethno-religious and linguist tensions. Relations between Sinhalese (about 75% of the population, mostly Theravada Buddhists), Sri Lankan Tamils (11%, mostly Shaivite Hindus), Sri Lankan Moors, (about 9%, mainly Sunni Muslims) and Indian Tamils
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