Success of small business owners in Peru: Strategies and cultural practices

The study investigates moderating effects of owners' cultural practices on the relationships between strategic orientations/actions and small business success. We argue that success relationships are higher if strategy variables are aligned with the cultural practices that owners support in their business. Based on interview and questionnaire data of 112 small business owners in Peru we found positive success relationships for planning, personal initiative, entrepreneurial orientation, and innovation. These relationships were generally higher if there was a match between strategic variables and cultural practices. The study shows the usefulness of a moderator approach to the understanding of small business success.