An investigation into the challenges of small businesses in the fine dining sector

Abstract

In Malta there are a good number of fine dining restaurants in the industry and this dissertation mainly studies the challenges of these restaurants. The dissertation investigates these challenges through the traits that entrepreneurs possess. This case study of the fine dining sector is conducted through semi-structured interviews to five different restaurateurs. The restaurateurs were able to provide information on the challenges that they face while identifying traits that are needed to be able to address these challenges. From the interviews, the restaurateurs discussed a lot of aspects including the fine dining sector in Malta, service quality, competition, feedback, staff recruitment, education, restaurant awards, location, and local authorities. These aspects were brought about from the questions asked during the interviews that were drawn up on the main objectives of the dissertation. Thus, the challenges identified were: finding the right staff, meeting payments of bills, obtaining a loan from a bank, keeping the reputation of restaurant, retaining customers, keeping up with social media, and working through the slow season. It was also discussed that there is no proper fine dining in Malta together with the importance of service quality to remain competitive. Various entrepreneurial traits were identified including: “passionate”, “hard-working”, “risk-taker”, “adaptable”, “good leader”, “innovative and creative”, “ability to manage stress”, “networking”, “market assessment”, and “making profitable decisions”. In conclusion this dissertation sums up challenges of entrepreneurs in the fine dining industry and the traits needed to manage and overcome the challenges that arise to drive its business into success. The researcher recommended that there should be two-way communication between the authorities and restaurateurs, and that the authorities should implement higher entry requirements to the catering schools. Furthermore, it was also recommended that more information regarding fine dining should be disseminated through media to educate people.