| Westhead, Wright and Usbasaran (2001) | | | | resources - owner resources and owner |
| suggested that human and financial resources | | | | commitment. A significant positive |
| are those that need to be incorporated into | | | | correlation was found between the two |
| the research model, which they had | | | | dimensions and net cash flow. No correlation |
| constructed. | | | | has been found to the log of employment |
| | | | growth. Westhead et al. (2001) findings |
| The small business' entrepreneur/owner is to | | | | support the hypothesis that, if the firm's |
| be emphasized as a resource of paramount | | | | founder possesses a significant prior |
| importance. According to Story (1994), the | | | | knowledge of the industry, it is to be |
| entrepreneur's experience, expertise and | | | | expected that the firm would register |
| abilities are generally considered a primary | | | | profitability beyond the means of its |
| parameter of influence over the firm's | | | | competitors. Premaratne (2001) indicates at a |
| survival and development. Mullins (1996) | | | | correlation between subsidies granted to the |
| claims that the entrepreneur's | | | | firm and increase in sales. However, he does |
| decision-making capacity strongly affects | | | | not support a correlation between subsidies |
| organizational processes that constitute the | | | | and profitability. Wiklund and Shepherd |
| foundation for competitive advantage as well | | | | (2005) have found a significant positive |
| as for growth. Rangone (1999) has defined the | | | | correlation between access to capital and |
| entrepreneur as a "unique" resource which | | | | performance. Pena (2004) examined the |
| supports the rest of the resources. | | | | relationship between human resources |
| | | | (education; management experience; prior |
| Several studies were conducted in order to | | | | entrepreneurial experience; entrepreneurs' |
| learn about the relationship between human or | | | | relatives; implementation of ideas acquired |
| financial resources and small business | | | | in previous workplaces) and increase in |
| performance. Cooper, Gimeno-Gascon and Woo | | | | profit, increase in sales and increase in the |
| (1994) have found that human resources, and | | | | number of employees. A positive correlation |
| especially the owner's education, are | | | | was found between education and the |
| correlated with growth. Moreover, knowledge | | | | implementation of ideas acquired in previous |
| of the industry and financial resources | | | | workplaces, and an increase in the number of |
| contribute to growth as well as to the firm's | | | | employees and in sales. Chrisman, Mcmullan |
| survival. According to Westhead (1995), the | | | | and Hall (2005) utilized education and prior |
| founder's experience affected performance and | | | | experience as control variables. A |
| survival in hi-tech enterprises over a period | | | | correlation was found between prior |
| of six years from the day of foundation. | | | | experience and an increase in the number of |
| Brush and Chaganti (1999) examined small | | | | employees and in sales. No such correlation |
| trade and service oriented businesses. Their | | | | with education was found. |
| study designates two dimensions of human | | | | |