Factors Affecting Economic Performance of SMEs in Mongolia

Abstract

The performance of Small Medium Enterprises (SMEs) play important role in economic development of a country, and it has been widely discussed that SMEs are the driving engine of economic development. In other words, by growth of SMEs, economy will be diversified, private sectors will be strengthened, unemployment will be decreased, technology and production will be improved. For SMEs in order to grow, sustainable economic performance is needed. The aim of this study is to identify the main factors affecting the economic performance of SMEs in Mongolia, make recommendation to improvement of the economic performance so that SMEs in Mongolia further influence the growth. This study uses data collected from World Bank Enterprise survey, and will use quantitative method to analyze the factors affecting the economic performance. The result of the study will be helpful for SMEs to orient itself and for policy makers.

Keywords: Small & Medium Enterprises (SMEs), Mongolia, Economic Performance

DOI: 10.7176/EJBM/11-21-16

Publication date:July 31^st 2019