Key success factors for small and medium enterprises in Nakhon Pathom

Abstract

The research is to study the success factors in small and medium-sized enterprises in Nakhon Pathom. There are 2 points in objective: 1) to study characteristic of operation, characteristic of entrepreneur, characteristic of doing business and the success in an operation of small and medium-sized entrepreneurs. 2) to study the operation factor influencing the success of small and medium-sized enterprises. The sample size is 400 small and medium-sized entrepreneurs in Nakhon Pathom. In this research, there are 3 independent variables including financial and accounting management, production management, and marketing mix. While dependent variable in the research is the success in doing business. Furthermore, basic statistics and pearson correlation were applied in order to analyse all data. The results of this research are indicated that financial and accounting management have relation with the success at a significance level of 0.01. However, when considering in each point of financial and accounting management, it find out that financial planning is the factor that is more influential than accounting record at a significance level of 0.01. Meanwhile, production management has relation with the success at a significance level of 0.01. Whereas, it appears that the standardization is an influencing factor rather than quality and cost reduction respectively at a significance level of 0.01. In terms of marketing mix, it presents that marketing mix also has relation with the success at significance level of 0.01. And when examining in each point of marketing mix, product is more influential than promotion, price and place at significance level of 0.01.