Economic Success Factors in Spanish Small Retail Businesses. An Analysis Based on Sector-Relative Definitions

The purpose of this study was to carry out a sectorial analysis of the strategic profile of successful small businesses in Spanish retailing. First, a one-dimensional statistical formalisation of the concept of small business was proposed, based on yearly sales revenue and relative to the sector. Likewise, some statistical formalisations of the concept of economic success were proposed, based on profit margins and also relativised according to sector. Once a conceptual framework was established, a sectorial model of strategic characterisation of successful small retailing firms was developed. The results of applying these proposals to the Spanish retail industry confirmed the importance of a sectorial approach as opposed to an overall analysis.