Abstract:

Small and Medium Enterprises (SMEs) make up the majority of business entities in the region and contribute significantly to revenue generation and employment. For SMEs to be profitable and to grow into larger corporate entities, a significant amount of management capacity is required.

As a SME owner, private sector leader and management student, the author has recognised a significant gap which exists between SMEs and the knowledge required by owners to deploy an effective company strategy to maximise potential of a business. The purpose of this research study is to examine the need for this gap to be addressed, the level of strategic thinking among owners which exists –if any; and the barriers to its inclusion by SMEs in Guyana.

By investigating and studying twenty three (23) organisations in a rural community, reference was made to both quantitative and qualitative data from respondents in the context of management knowledge literature of SMEs. Host country and knowledge provider perspectives were also considered.

The results of the research confirmed the limited to average level of strategic thinking which currently exists in the majority of SMEs. By addressing the identified knowledge gap all the parties involved including the SMEs, the host country and the knowledge providers are likely to benefit significantly in terms of increased revenues, profits and employment.

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