Resumen
The economic and social importance of micro and small enterprises for the development of emerging economies is indisputable and is the subject of numerous studies around the world. This article analyzes the main aspects that influence their establishment and consolidation from three perspectives: determining factors for the continuity of the company, major stakeholders in the achievement of the strategic objectives, and fundamental characteristics of the business activity. The research, based on the experience of 34 micro and small business entrepreneurs in the commune of La Serena, Coquimbo Region, determined that the key factors for the continuity of the company are: the responsibility y commitment of the workers, the quality y cost of the inputs, and the workers? motivation. Also, in order of priority, the major stakeholders are: customers, suppliers, workers, competition, community, creditors and government. Finally, the principal characteristics of the entrepreneurial business activity are: the financing of the business operations comes, mainly, from its own resources; the entrepreneurs consider the continuous search for customer?s satisfaction as a strategic aspect, and that they have an interest in the social and environmental impact generated by their company.