Empirical investigations on business success of small and medium scale enterprises in Sri Lanka

Abstract

The purpose of this paper was to investigate the business success of small and Medium Enterprises (SMEs) and set a light on various factors with the intention to eliminate the fear over investing on SMEs ventures in the Eastern province of Sri Lanka. Data for this study was collect using a self - administered questionnaire from a representative sample of 100 entrepreneurs from each of three districts in the province. The collected data was analyzed using SPSS 16 version and the interpretation was made using several data analysis techniques. The impact of education, experience on the success of these businesses was investigated. findings showed clear evidence that experience had a positive effect on the success of the business. thus, the most SMEs relied heavily on prior knowledge and experience of the entrepreneurs.