A case study of successful SMEs in Colombia: the case of the healthcare sector

Abstract

The primary objective of this study is to identify and analyze the determining success factors of small and medium-sized enterprises (SMEs) in Colombia in terms of both internal and external factors employing the theories of resource-based view and institutional economics as the theoretical reference framework. A qualitative study was conducted for an in-depth analysis of four different Colombian companies. The most relevant fi ndings of this study reveal that the success determining factors of these SMEs are: the entrepreneur’s knowledge and experience, the company’s prestige and reputation, the supporting measures and specialization of the industry, and the infl uence of the communities in which their business is conducted.