The purpose of this article is to describe the basic characteristics and qualities of managerial work in small firms.

The article draws on a summary and synthesis of five studies from the “managerial‐work research tradition” that investigates the behaviour of top managers in small firms by means of direct observation. Studies are evaluated by using research on managers' jobs in general, and some needs as well as guidelines for future research on entrepreneurial and managerial work in small firms are suggested.

Managerial work in small firms is described by discussing: how managers divide their time between different activities; managerial interaction and communication, and the elements of managerial work in small firms. Three limitations of existing studies are identified: they are difficult to compare; they adopt a simplistic conception of the constituents of managers' jobs, and more specifically of the relation between the managing actor and the context in which he/she works; and they fail to recognise to the value of inductive analysis.

Future studies of managerial work in small firms have much to gain by considering the development that has been taking place within general management theory and in the study of managers' jobs. This article contributes a first step towards bringing research on managers' jobs into the small‐business research community.

The paper initiates a better understanding of the basics of managerial work in small firms, which has not previously been elaborated upon and is an important step in exploring the dynamics of small business management.