Success Indicators and Factors for Small and Medium-Sized Enterprises in Chelyabinsk Region of Russia

Abstract

The purpose of this paper is to describe the main results of author’s studies of small and medium-sized enterprises success in the Chelyabinsk region of Russia. The paper establishes professional and personal characteristics of employees as a key factor for small and medium-sized enterprises success. Entrepreneurial skills of executives are less significant. The next goes availability of financial resources. Positive relations with state or municipal authorities do not have a serious impact on small or medium-sized business success. Also the paper indicates significant differences in the proportion of successful businesses and the factors of success by fields of activity. Property rental, production of construction materials, and financial services are recognized as most successful fields of activity. The relationship between various indicators of success (return on sales and growth rate of sales) is established. Significant difference between the success of small and medium-sized enterprises in the Chelyabinsk region is identified. The result of the study can be used both by top-managers of small and medium-sized enterprises in Russia and by state authorities for the development of economic policy.