Influential Factors on the Success of Small & Medium Enterprises (SMEs) - Special Reference to Tourism-related SMEs in Kandy & Colombo Districts.
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Date
2017
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Uva Wellassa University of Sri Lanka
Abstract
ABSTRACT Small & medium scale enterprise (SMEs) has become a significant market position in the
tourism sector. Considering the present scenario, tourism-related SMEs have faced various
challenges regarding survival in the existing market with the business environment changes and
how far those are affecting SMEs. The importance of this research is to identify and analyze the
most influencing factors for SME business success, with particular reference to Kandy &
Colombo districts. Considering the objectives of this research, I hope to identify and analyze
the most influencing factors of SME's success and how far those influence survival in the market
for the long term. SMEs technology Orientation, entrepreneurial orientation, employee
orientation, and customer forcing are studied as success factors. ROI, ROA, Sales growth,
market share, customer satisfaction, customer retention, job satisfaction, and innovation are
considered in measuring business success. The success support from the government should be
increased for the Tourism related SME industry through implementing policies, providing
financial incentives, infrastructure facilities, and proper assistance to get more benefits, to
overcome the challenges, and ensure the business of Tourism related SME businesses in Sri
Lanka.
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Keywords
Hospitality, Tourism and Events Management degree programme (HTE)