Ways entrepreneurs communicate their success to stakeholders

Abstract

The secretive conduct of entrepreneurs regarding their business success undermines the principles of openness, transparency, and honesty, which are essential in entrepreneurship as they foster accountability, responsible business practices, and ethical behaviour. The research seeks to examine the degree to which entrepreneurs reveal information regarding their business success to various stakeholders. The research employed an interpretative perspective and a qualitative methodology. Purposive sampling was employed to choose entrepreneurs managing SMMEs in the Limpopo Province. An inductive methodology was employed to obtain comprehensive data regarding the communication of entrepreneurial success by firm owners. ATLAS.ti 8 was employed for data analysis. The findings indicated that entrepreneurs convey their success to diverse stakeholders, including relatives, friends, and business networks, by sharing best practices and inspiring others to pursue entrepreneurial endeavours. This study has discovered that the disclosure of success primarily occurs when entrepreneurs seek funding or loans from banks and the government. Standard communication with authorities was identified as another method by which entrepreneurs report their success to the South African Revenue Services during tax return submissions. This study found that entrepreneurs' perceptions of success vary in their communications with different stakeholders. The work offered significant contributions to the existing literature and future research from a theoretical standpoint.

Keywords: {'name': 'Entrepreneur'}, {'name': 'entrepreneurial success'}, {'name': 'interpretative'}, {'name': 'SMME'}, {'name': 'stakeholders'}

Authors & affiliations

Ndishavhani Grace Ramavhona
Affiliation not supplied

Livhuwani Gladys Nkondo
Affiliation not supplied

Deposited references

Supplied references, not a list of publications citing this article.

DOI: 10.1108/JSBED-04-2019-0131

DOI: 10.1016/j.cie.2022.108903

DOI: 10.30574/wjarr.2023.20.3.2588

DOI: 10.1111/1911-3846.12898

DOI: 10.1016/j.emj.2023.04.011

DOI: 10.1080/00014788.2021.1958669

DOI: 10.3389/fpsyg.2023.1085317

DOI: 10.5772/intechopen.1002645

DOI: 10.3390/educsci11070356

Jordaan, H., & Coetzee, J. (2021). Access to finance perceived as an obstacle and the characteristics of the SMME and its owner: Evidence from the Free State Goldfields–South Africa. International Journal of Economics and Finance Studies, 13(1), 373–404.

Joshi, P., George, R. A., & Tyagi, A. K. (2014). The role of effective communication in entrepreneurial success. Transgenerational Entrepreneurship Economy and Innovation Dynamics for Sustainability, 70, 230–278.

DOI: 10.1016/j.jenvman.2021.112349

Kumburu, N. P. (2021). Influence of leadership on performance of small businesses in Tanzania: Mediating role of enterprise communication. East African Journal of Social and Applied Sciences, 3(1), 140–150.

DOI: 10.7341/20242023

DOI: 10.20853/31-5-1498

DOI: 10.1002/jsc.2488

DOI: 10.5267/j.uscm.2022.9.008

DOI: 10.1177/23294884211020488

DOI: 10.5465/amj.2010.52814578

DOI: 10.1007/s11187-022-00644-3

DOI: 10.51594/csitrj.v4i2.612

DOI: 10.1177/2631309X211029877

DOI: 10.1108/JKM-02-2021-0103

DOI: 10.1037/pspi0000322

DOI: 10.1016/j.ijpe.2022.108701

DOI: 10.1016/j.jbvi.2023.e00396

Saxunova, D., & Szarkova, R. (2017). Combatting tax evasions. In Proceedings of the 30th International Business Information Management Association Conference (IBIMA) (pp. 5873–5884).

DOI: 10.1108/JAOC-11-2021-0156

DOI: 10.1007/s11187-023-00767-1

DOI: 10.4324/9781315235110-30

Utegenova, S., & Rozumova, D. (2024). Directions for improving tax audit. Modern Science and Research, 3(6).

DOI: 10.15249/16-1-285

DOI: 10.1007/s11365-018-0532-5

DOI: 10.1037/pspi0000431

DOI: 10.2139/ssrn.4273219