Dr Evri Lampadarios

Even though there has been significant empirical research on the determinants of small business success, there is still no agreed-upon definition of SMEs and business success, no unifying theory and with success factors varying with the business environment. Developing a better understanding of the factors that contribute to small business success becomes crucial. SMEs have a strong presence in the UK chemical distribution industry and play an important role in its overall growth and performance. However, there is limited literature and research on this industry. This study identifies the factors critical to the success (CSFs) and sustainable growth of SMEs in the UK chemical distribution industry. Based on a survey of owners and senior managers, Regulatory Compliance, Entrepreneurial Orientation, Customer Relations Management, Market and Product development, Prior Work Experience and Management Skills, Human Capital, Economic Environment and Strategic Planning are identified as the critical success factors for this industry. Findings suggest that success is a multidimensional phenomenon, where both firminternal and firm-external factors need to be optimal simultaneously. Variations between SMEs are also found, suggesting that different strategies are needed for different sized businesses. Specific attention is given to supplier management, as this relates to a number of CSFs.

Businesses assume that in the developed countries, political stability is guaranteed. However, the result of the British referendum (June 2016) has shifty altered the political arena and introduced an era of uncertainty and volatility, referred to as ‘Brexit’. The UK chemical industry and its supply chain need to respond and changes might be in order. The routes to market could well be changing and there appears to be a shift towards chemical distribution; particularly towards official and appointed chemical distributors rather than direct business and/or non-exclusive distributors/agents. The newly-emerging market conditions also demand flexibility and adaptability, pointing in the direction of small businesses (SMEs) rather than their larger counterparts. Nevertheless, as these are the early stages of this process/phenomenon, it is difficult to ascertain whether the initial effects would be of a permanent or temporary nature until a state of equilibrium is reached in the market.

The UK chemical distribution industry is a significant and well-established, yet fragmented and subject to strong consolidation, part of the chemical industry and a major contributor to the UK economy and employment. However, it remains largely unexplored, with limited research in the factors contributing to SMEs success. This paper, which is part of a larger-scale study, addresses a well-established gap in the UK chemical distribution industry and provides a qualitative perspective of the business environment factors critical to the success of small and medium-sized distributors. This research is based on the opinions of owners and very senior managers (Managing Directors, Directors, CEOs and CFO’s), an approach extensively used by other researchers. A total of 180 SMEs fulfilling the criteria of this study are identified with 118 owners/managers participating, generating a very satisfactory response rate of 65.5%. The paper informs key stakeholders and policy makers with a view to improve strategy formulation and decision-making process in supporting chemical distribution SMEs.

The UK chemical distribution industry is a significant and well-established, yet fragmented and subject to strong consolidation, part of the chemical industry and a major contributor to the UK economy and employment. However, it remains largely unexplored, with limited research in the factors contributing to SMEs success. This paper, which is part of a larger-scale study, addresses a well-established gap in the UK chemical distribution industry and provides a qualitative perspective of the enterprise (relating to the firm) factors critical to the success of small and medium-sized distributors. The original study follows a positivistic philosophy, is deductive in its approach, uses a concurrent embedded mixed methodology and utilises a survey strategy involving the use of self-administered questionnaires to collect both quantitative and qualitative data. No sampling techniques are utilised but instead a census is conducted as it has been possible to collect and analyse data from every possible group member. This research is based on the opinions of owners and very senior managers (Managing Directors, Directors, CEOs and CFO’s), an approach extensively used by other researchers. A total of 180 SMEs fulfilling the criteria of this study are identified with 118 owners/managers participating, generating a very satisfactory response rate of 65.5%. The paper informs key stakeholders and policy makers with a view to improve strategy formulation and decision-making process in supporting chemical distribution SMEs.

The UK chemical distribution industry is a significant, well-established, yet fragmented and subject to strong consolidation, part of the chemical industry and a major contributor to the UK economy and employment. Despite its importance, it remains largely unexplored, with limited research in the factors contributing to the success of small and medium-sized distributors. This paper, being a part of a larger-scale study, addresses a well-established gap in the industry and provides a qualitative perspective of the entrepreneurial (relating to the individual) factors critical to SMEs success. The research is based on the opinions of owners and very senior managers, an approach extensively used by other researchers. A total of 180 SMEs fulfilling the criteria of this study were identified with 118 owners/managers participating, generating a highly satisfactory response rate of 65.5%. The paper not only informs key stakeholders and policy makers with a view to improve strategy formulation and decision-making process in supporting chemical distribution SMEs but also opens new research avenues.

The UK chemical distribution industry, a well-established, highly fragmented, subject to strong consolidation and significant part of the chemical industry, is a major contributor to the UK economy and employment. The ever increasing regulatory compliance requirements pose a significant challenge to all companies in general but more so to SMEs which have a strong presence in this industry. Even though there has been considerable research in the area of small business growth, best practices for SMEs in the chemical distribution industry are scarce. This is one of the few research papers that address this gap in knowledge in a case study context in the specific industry, arguing that a mix of inorganic and organic growth is the best way to achieve growth. Findings suggest that the strategy depends on the vision of the owner/manager, strategies in place, access to human resources and finance, past experiences, industry characteristics and company structure. Despite the methodological limitations of this study, this can be used as the basis for future research and to inform key stakeholders and policy makers.

The European chemical distribution industry, despite its significant contribution to the economy and employment generation, remains largely unexplored with little research, both on an academic and industry level, in the factors contributing to SMEs success. With the majority of chemical distributors being small and medium-sized enterprises, this paper discusses the driving forces of the industry, arguing that only when a small business is able to cope with, adapt to and overcome these forces, can it be successful. Consequently, a number of factors are identified and a positive relationship with SMEs success is proposed. This paper informs thinking and research design and becomes the basis for future research in this field. It further offers a way forward for both practitioners and policy makers to support small and medium-sized European chemical distributors.

Commentary on the factors critical to SMEs success in the European chemical distribution industry

The UK chemical distribution industry, despite its significant contribution to the economy and employment generation, remains largely unexplored with no academic research regarding small businesses and their success. This is the first study to investigate the challenges that SMEs operating in the specific industry are facing, arguing that only when a small business is able to cope with, adapt to and overcome these, can it be successful. Utilizing a survey strategy, qualitative data were collected from 118 SMEs, out of the 180 identified, generating a response rate of 65.5%. Regulatory compliance, supplier management, human capital and access to capital are identified as critical. Findings suggest that success is a multidimensional phenomenon where all contributing factors need to be taken into consideration and addressed simultaneously. This paper informs thinking in this field and provides guidelines to various stakeholders to improve strategy formulation and decision-making process in order to support chemical distribution SMEs.

The UK chemical distribution industry, which is a well-established, fragmented, subject to strong consolidation, significant part of the chemical industry and a major contributor to the UK economy and employment, remains largely unexplored, with no research in the factors contributing to SMEs success. This is the first study to identify the factors critical to small business success and provide an integrative perspective in the specific industry. The research is based on the opinions of owners and very senior managers (Managing Directors, Directors, CEOs and CFO’s), an approach extensively used by other researchers. A total of 180 SMEs fulfilling the criteria of this study are identified with 118 owners/managers participating, generating a very satisfactory response rate of 65.5%. Regulatory Compliance, Entrepreneurial Orientation, Customer Relations Management, Market and Product development, Prior Work Experience and Management Skills, Human Capital, Economic Environment and Strategic Planning are established as critical success factors (CSFs).Findings suggest that success is a multidimensional phenomenon where both firm-internal and firm-external factors need to be optimal simultaneously; satisfying one or two factors does not necessarily guarantee success. Strong interrelationships are also revealed amongst the critical and non-critical success factors. The paper contributes towards the integration of SMEs success factors theories and provides guidelines to various stakeholders and policy-makers to improve strategy formulation and decision-making process in supporting chemical distribution SMEs.

An overview of SMEs and the UK chemical distribution industry through an operations and supply chain management perspective. Delivered at Leeds Trinity University on 2nd March 2016.

Small Medium Enterprises (SMEs) are an effective mechanism to generate employment and promote economic growth (Dobbs and Hamilton, 2007). An understanding of why they succeed or fail is crucial to the economy and the society. Therefore, identifying the Critical Success Factors underpinning this success or failure becomes of great importance. The purpose of this paper is to review empirical contributions to the area of Small Business growth and propose a more comprehensive conceptual framework on SME success. Overall, there is no unifying theory on SME success and the current literature features a wide range of growth measures and conceptual frameworks that attempted to capture aspects of small business growth (Chawla et al., 2010). Knowledge development appears to be more fragmented than cumulative. As a result of this, new theoretical perspectives are needed if we are to develop our understanding of the small businesses growth process. This paper will review the existing literature and present the most significant and influential conceptual frameworks on SMEs Success. This study will use the work of Amoros (2011) on behalf of the Global Entrepreneurship Monitor (GEM), Chawla (1997), Dobbs & Hamilton (2007)and Lussier (2010, 1997a) as a basis to develop a more complete and unified framework on small business success. As it is well established in the literature that all variables of SMEs success can be categorised into entrepreneurial (individual), enterprise and business environment factors (Simpson et al., 2012), this study will adopt the same categorisation. The contribution of this paper will be to develop a more comprehensive framework on CSFs for SMEs in an area critical in terms of the advice given to policy makers and business owners and also identify new research approaches needed to advance understanding of the small business growth process.

Small and medium-sized enterprises (SMEs) have a strong presence in the UK chemical distribution industry, a major contributor to the UK economy and employment. Brexit, more a phenomenon than a singular event, has irreversibly altered the political arena and introduced an era of uncertainty and volatility. Such a radical occurrence has increased the number of factors critical to success and has thus created a far more complex and challenging environment for UK SMEs to operate in. A distinct shift is noted and certain factors, namely the political environment, financial resources and internationalisation, previously not considered critical are now deemed as highly influential in the success of small businesses in the chemical distribution industry. Regulatory compliance and human capital remain critical but with their importance reinforced.

Scope and Importance: The UK Chemical Distribution Industry is an integral part of the UK Chemical Industry. According to the American Chemistry Council’s Global business of Chemistry (available at: www.americanchemistry.com/Jobs/EconomicStatistics/Industry-Profile/Global-Business-of-Chemistry, accessed April 2014), in 2012, the UK chemical industry was ranked tenth regarding its worldwide influence and reference. Small Medium Enterprises (SMEs) operating in the Chemical Industry are extremely important as they are an effective mechanism to generate employment and promote economic growth (Chawla et. al, 2010; Dobbs and Hamilton, 2007; Mortelmans and Reniers, 2012; Lussier, 2010). Business literature recognises that internationalisation has a positive impact on firm performance and has been long established as an important characteristic of firms experiencing high growth (Bianchi and Ostale, 2006; Javalgi and Todd, 2011; Hessels and Parker, 2013; Lu and Beamish 2001; Mudambi and Zahra 2007; Pangarkar, 2008; Zhou et al., 2007). Currently, there is very limited business research investigating the internationalisation process of SMEs in the UK Chemical Distribution Industry. Therefore, the scope of this study is to offer an insight in this area by initially focusing on the internationalisation activities of a typical SME operating in this industry. Theoretical background and importance: Overall, there are three models that explain how firms gradually intensify their activities in foreign markets (internationalisation process): the gradual internationalization (Uppsala model), the radical internationalization (or born global firms and international new venture) and the radical but late internationalization (born-again global firms) (Olejnik and Swoboda, 2012; Calof and Beamish, 1995). In general, SMEs in the UK Chemical Distribution tend to gradually intensify their activities in foreign markets by first gaining experience from the domestic market before moving to foreign markets and tend to start their foreign operations from culturally and/or geographically close countries (Chemagility, 2008; Flavell-While, 2012; Hornke, 2012; Mortelmans and Reniers, 2012). This is in line with the Uppsala model and therefore this study will be based on the same model. The current research study is focusing on The White Sea and Baltic Company Ltd (WSB); one of the leading medium-sized distributors of speciality chemicals in the UK. Research Questions: Reflecting on the theoretical framework of the project, the scope of the study is dual; first to evaluate the current internationalisation strategy of one of the leading distributors of speciality chemicals in the UK and secondly to identify the skills and capabilities of its international managers that could be associated / have an impact on its success. Methodology: This is a pilot study of a larger research project started in May 2013, focusing on SMEs operating in the UK Chemical distribution that sell directly or through sales agents to international markets. A small scale research project was conducted to examine the internationalization strategy of the WBS. The research strategy adopted is a case study approach. Face-to-face in-depth interviews with 5 senior managers with exporting responsibilities and the Managing Director of the company have been conducted. Key Findings: Preliminary findings reveal that WSB is more reactive to internationalization and that there is no clearly defined strategy or skills development plan. International managers working in the Chemical Distribution Industry support the view that when venturing into the foreign markets, firms are facing uncertainty and risks which entails a process of learning and adaptation. Practical Implications: This is the first study conducted in the UK Chemical Distribution Industry that aims to assess the existing internationalisation strategy; identify the challenges, needs and skills required for the target groups to explore internationalization; help Chemical SMEs overcome any barriers identified by proposing an appropriate a business strategy; and the development of “soft skills” which are needed to build the employees cross cultural capability in the SMEs operating in the Chemical Distribution Industry.

SMEs have long been established as an effective mechanism to generate employment and promote economic growth. Even though there has been significant empirical research on the determinants of small business success, there is still no agreed-upon definition of SMEs and business success, no unifying theory and with success factors varying with the business environment (country and industry). Knowledge remains more fragmented than cumulative. This paper reviews and synthesises empirical contributions in the small business success literature from the early 1990s with a view to consolidate knowledge. This is done in the form of a conceptual framework that categorises success factors into entrepreneurial, enterprise and business environment. The paper concludes that more empirical research is needed to develop a more unified approach to SMEs success factors and informs thinking on this critical to policy makers and business owners area.

The effect of high hydrostatic pressure on ester formation and hydrolysis was studied. Six esters and the corresponding carboxylic acids and alcohols were subjected to high-pressure treatments of 400 and 800 MPa under three different pH conditions (namely, buffer solutions of pH 4, 6 and 8). The selected compounds were dissolved into buffer solutions, subjected to the pressure treatment and then extracted using dichloromethane. The analysis and quantification were carried out by gas chromatography with flame ionization as detector. High pressure appeared to have no effect on ester formation or hydrolysis under the investigated conditions. In all cases, a small decrease at the levels of carboxylic acids and esters was observed without any evidence of further reaction. This decrease, referred to as decomposition, depended on pressure and pH conditions. Ester decomposition was minimised when a high-pressure treatment of 400 MPa in basic conditions (pH 8) was applied. Carboxylic acid decomposition was minimal in basic conditions and it was independent of the pressure applied. © 2002 Elsevier Science Ltd. All rights reserved.