CHALLENGES AND OPPORTUNITIES FOR SME GROWTH AND SCALABILITY IN BAHRAIN: AN ANALYSIS OF THE 2024 BUSINESS ENVIRONMENT
DOI:
https://doi.org/10.70301/Keywords:
Small and medium-sized enterprises (SMEs), People Management Skills, Leadership, Employee Retention, Employee RecruitmentAbstract
This research examines the ongoing challenges that impede the growth and scalability of small and medium-sized enterprises (SMEs) in Bahrain, despite various government initiatives aimed at bolstering the sector. The central issue is the high failure rate of SMEs in achieving sustainable success, which has necessitated an exploration of factors such as strategic leadership, human resource practices, and innovation capabilities. The study underscores that deficiencies in strategic leadership and human resource development are pivotal factors contributing to business stagnation and failure. It advocates for a national framework to enhance SME capabilities through dedicated investment in leadership and employee retention strategies. Addressing these human capital gaps is crucial for strengthening Bahrain's SME sector and advancing its economic diversification objectives.
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