A case study of successful SMEs in Colombia: the case of the healthcare sector

The primary objective of this study is to identify and analyze the determining success factors of small and medium-sized enterprises (SMEs) in Colombia in terms of both internal and external factors employing the theories of resource-based view and institutional economics as the theoretical reference framework. A qualitative study was conducted for an in-depth analysis of four different Colombian companies. The most relevant findings of this study reveal that the success determining factors of these SMEs are: the entrepreneur's knowledge and experience, the company's prestige and reputation, the supporting measures and specialization of the industry, and the influence of the communities in which their business is conducted.