South Africa has pinned many of its hopes for economic growth and job creation on small businesses. The assumption behind most support programmes is straightforward: entrepreneurs want to grow, and if the government can remove barriers such as red tape, limited finance and skills shortages, growth will follow. But what if that assumption is wrong? Research conducted among 354 small business owners in the Free State suggests that not all entrepreneurs want to grow their businesses. More importantly, the reasons for this challenge many of the beliefs that shape small business policy in South Africa. The study examined several possible explanations for why entrepreneurs may resist growth. These include a lack of resources, a lack of confidence, fear of an increased workload, weak market demand and a deliberate decision to remain small. Only two factors stand out. The first is a deliberate choice not to grow. That finding may surprise policymakers, but it reflects a reality often overlooked in discussions about entrepreneurship. For some business owners, growth is not the ultimate goal. They may value flexibility, independence, work-life balance or maintaining direct control over customer relationships and business operations. They are not failing to grow; they are choosing not to. In a society that often celebrates growth as the only measure of success, this distinction is important. Not every entrepreneur wants to build the next national brand or global company. Some simply want a stable, sustainable business that provides an income, supports their families and maintains a comfortable lifestyle. The second factor is market demand. Entrepreneurs who believe there is insufficient demand for their products or services are understandably reluctant to invest in expansion. Growth requires customers. If business owners do not see opportunities to sell more, hire more or enter new markets, they are unlikely to take on the risks associated with expansion. That finding should serve as a warning. South Africa’s efforts to promote entrepreneurship often focus on helping people start businesses. Far less attention is given to helping them access markets once those businesses are established.Incorrect assumptions Interestingly, some of the factors most commonly blamed for slow business growth did not emerge as significant barriers. Lack of access to finance was not a major factor. Nor was lack of confidence. Even concerns about increased workload did not significantly influence growth intentions. That doesn’t mean finance, infrastructure or skills development are unimportant. They remain critical components of a healthy entrepreneurial ecosystem. However, the findings suggest those factors alone may not explain why many businesses choose not to pursue growth. The same applies to the broader business environment. South African entrepreneurs operate in a challenging environment characterised by unreliable infrastructure, stringent labour laws, a heavy tax burden, crime, corruption and economic uncertainty. Yet these factors did not significantly influence the entrepreneurs’ growth intentions. One possible explanation is that many entrepreneurs may have simply adapted. They have learnt to operate within these constraints and no longer view them as the deciding factor when considering whether to expand. If that is the case, policymakers may need to rethink some long-held assumptions. Improving infrastructure and reducing regulatory burdens remain worthwhile goals, but these interventions alone may not persuade entrepreneurs to grow. The study identified one personal characteristic that did matter: locus of control. Other characteristics, such as the need for achievement, the need for autonomy and risk appetite, did not seem to matter. Thus, entrepreneurs who believed they could influence their futures and shape business outcomes were significantly more likely to pursue growth. Those who felt that success depended largely on external circumstances — such as the government and assistance from support and development agencies such as the Small Enterprise Development & Finance Agency were less likely to do so.Additional input That finding has important implications. It suggests entrepreneurship support should focus not only on finance and technical skills but also on developing confidence, agency, resilience and growth-orientated mindsets. South Africa’s National Development Plan envisions a vibrant small business sector that will create millions of jobs and help reduce poverty. Achieving that vision requires more than helping entrepreneurs start businesses. It requires understanding why some choose to grow while others do not. The evidence suggests that growth is not simply a resource problem. It is also a matter of choice, opportunity and mindset. Some entrepreneurs will never want to grow, and that is a legitimate decision. However, for those who do, the focus should shift towards expanding market opportunities, strengthening entrepreneurial agency and creating conditions where growth makes business sense. If South Africa is serious about unlocking the potential of its small business sector, it may be time to stop assuming that every entrepreneur wants the same thing and to start listening more carefully to what entrepreneurs themselves are saying. Benedict lectures on entrepreneurship and small business management at the University of the Free State.