Anotace:
According to The Global Entrepreneurship Monitor’s Annual Survey on Global Entrepreneurship (2011), South Africa had an estimated 5,579,767 small business owners, of which nearly 80% were retailers while more than 20% were service providers. These businesses accounted for almost 12 million jobs in the country. It is argued that many prospective entrepreneurs want to start a new business but do not focus on acquiring the essential basic business skills to ensure long-term success and sustainability. As survival challenges arise, small and medium enterprises (SMEs) will need thought processes that include defining issues, analysing evidence, and synthesizing information, which is critical thinking. SMEs need to have a good understanding of how to manage and run a business effectively. Managerial cognitive competencies become vital in handling, managing, and running a business effectively. Critical thinking is an important cognitive competency that impacts the expansion and survival of SMEs. Very few studies in South Africa have investigated SME longevity, where critical thinking skills were considered a factor. Therefore, the study aimed to assess the level of critical thinking skills among SME owners in South Africa's construction and manufacturing industries and explore its impact on SME longevity. This quantitative descriptive study was among 204 SME owners selected using quota sampling from the construction and manufacturing sectors. Data were collected using a self-administered, anonymous online questionnaire and analyzed using SPSS software version 27. The questionnaire assessed the participants' levels of critical thinking. The analysis, conducted using SPSS version 27 software, aimed to determine the prevalence of these skills and their implications for the longevity of SMEs. The results indicated that SME owners in the construction and manufacturing sectors exhibited moderate critical thinking. This suggests that while critical thinking is present, further development has the potential to enhance SMEs' competitive edge and long-term viability. The study found that SME owners' overall critical thinking was moderate in both the manufacturing and construction sectors in South Africa. The study recommended that SMEs employ critical thinking skills to optimize their competitive advantage and sustainability. SME owners, therefore, need to embed critical thinking in their management skills to address complex problems.