Author(s): Maheran Zakaria, Wan Noraswaniaty Wan Ahmad, Mohd Arpi Arifin, Ida Rosnidah, Nor Balkish Zakaria
Success in business venture is critical for the survival of Micro, Small And Medium Enterprises (MSMEs). However, gaining success is not an easy task. Majority of them failed explicitly in the startup phase. Abundances of studies have been conducted to find a solution on what would make the enterprises successful. Therefore, a thorough analysis of literature that identifies the antecedent factors is critical to be explored, which has less been emphasized. To fill this gap, the objective of this study is to comprehensively carry out a systematic literature review as to examine antecedent factors of business success among MSMEs highlighted by an extensive body of knowledge. The study also analyses the suggested areas for future research endeavor. Approximately ninety articles across the selected bases and search engine discussed the examined topic specifically. From the analysis, findings indicated that the factors are classified into internal and external. The internal factors are further divided into personal and organization, while the external factors are social, financial, societal, and contextual. Findings would provide valuable insights for researchers, entrepreneurs, government, and policymakers to incorporate those factors in formulating research framework, policies, training, and financial assistance at individual, institutional and societal levels. Hence, it is hoped that the initiatives would expedite the success of MSMEs' business and eventually stimulate the growth of the world’s economy.