Strategies to establish sustainable entrepreneurship in small and medium construction firms in Sri Lanka

Abstract

Traditional entrepreneurship, environmental entrepreneurship, and social entrepreneurship have all been combined to create sustainable entrepreneurship. Entrepreneurs in modern construction industry have been adapted the sustainable entrepreneurship instead of the conventional entrepreneurship due to high concern on sustainability in the world economy. Due to their lack of knowledge about sustainable entrepreneurship, small and mediumsized business owners in Sri Lanka's construction industry only use sustainable practices in their projects. But, sustainable entrepreneurship is a more complex concept than mere application of sustainable practices to their projects as above mentioned. Therefore, this study was focused to propose suitable strategies to establish sustainable entrepreneurship within Small and Medium firms in the construction industry of Sri Lanka. The qualitative research methodology was used to address the research problem. Entrepreneurs of Small and Medium Construction Firms in Sri Lanka were interviewed in semi-structured interviews to get pertinent data for the research's aim and objectives. Data from the collection was analyzed using cross-analysis and content analysis. Furthermore, recommended solutions for establishing sustainable entrepreneurship within Small and Medium firms in Sri Lanka were generalized to the Sri Lankan context. The findings from this research revealed that Sri Lankan small- and medium-sized businesses can benefit from the concept of sustainable entrepreneurship. The research additionally determined factors that support and hinder the development of sustainable entrepreneurship within Small and Medium Sized Businesses in the Sri Lankan Construction. Eventually, this study achieved the research purpose by offering relevant methods for fostering sustainable entrepreneurship within Small and Medium-Sized Businesses in the Sri Lankan Construction Industry based on the study's findings