The role of small and medium business enterprise in the socio-economic development of Mongolia

Tsevelnyam, Ariunzaya

The main aim of this bachelor thesis is to research the current situation of SMEs in Mongolia and determine its role in socioeconomic sphere of the country. Additionally, this study will be focusing on the possible strategies of sustainable development of this pillar in a long-term. Theoretical part of the study contains characteristics of SMEs in both developed and developing countries and their state policies towards development of SMEs sector. To tackle the topic, a qualitative approach was adopted in the practical part of the study. Questionnaires were introduced among SMEs in Ulaanbaatar and based on the responses received; analysis of the data was done to determine the main challenges SMEs are facing today and impact of state supported programs for SMEs in Mongolia. Results are presented and evaluated in the conclusions and recommendations. The study concludes with recommendations for policy makers and commercial banks to improve the connectivity of projects funded by donor countries and reduce unnecessary costs by eliminating overlapping state supported programs.

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