How do small firms' attitudes towards change impact their growth? This paper focuses on existing small firms with fewer than 50 employees and their attitudes to change, using data from regular quarterly small firm surveys conducted by the Small Business Research Trust. It examines the relationship between growth-orientation, financial objectives, propensity to introduce changes, and actual growth. The findings confirm strong positive links between growth-orientation, the setting of financial objectives, a propensity to introduce changes, and actual growth. Age and size of the firm also play a role, influencing these relationships as intervening variables. The study also supports the mirror image of resistance to change linked to non-entrepreneurial performance. This research is relevant to entrepreneurs and business managers. These results highlight the importance of embracing change and setting clear financial objectives for small firms aiming to achieve growth. Overcoming resistance to change and fostering an entrepreneurial mindset are key factors in driving success and performance.
This examination of entrepreneurship and small firm growth aligns with the Journal of Small Business and Enterprise Development's focus on issues relevant to small businesses and entrepreneurs. The research contributes to the journal's aim of providing insights and practical guidance for small business success.