Evaluating the Factors That Determine Sustainable Growth in Small and Medium Enterprises in Sierra Leone: A Triple Bottom Line Perspective

Abstract

Aligning economic progress with societal well-being and environmental conservation, stressing their integration by businesses has gained significant importance worldwide. This study examines the sustainable growth of Small and Medium Enterprises (SMEs) in four major urban centers in Sierra Leone – Freetown, Bo, Makeni, and Kenema – using the Triple Bottom Line (TBL) framework. The research aims to identify the key factors influencing SME sustainability, assess SMEs' understanding and integration of TBL principles, and evaluate the impact of this integration on their growth.
Several findings have emerged through a mixed-method approach involving structured questionnaires and interviews with 240 SME managers and owners and 15 managers, respectively. SMEs prioritize financial performance while recognizing the importance of environmental sustainability and social equity. While not all SMEs are familiar with the TBL concept, many intuitively integrate its economic, social, and environmental dimensions into their operations. The study demonstrates the positive impact of integrating TBL principles on SMEs' sustainable growth.