Influence of Macro Environmental Factors on Business in SMEs: An Empirical Analysis

Abstract

Entrepreneurship has long been discussed due to its capabilities to generate employment in country, tax generation and business growth. It cannot be ignored that businesses often face many troubles at different stages, including internal as well as external problems which may stop company\'s performance without any doubt. However, entrepreneurs learn from mistakes and problems occurring in businesses therefore, they consider problems as opportunities. Furthermore, data in this paper is gathered from scholarly publications, online data, entrepreneurship and economics literature from international and domestic publications. Primary data has been obtained with the help of questionnaire and personal interactions with business owners, mangers of SMEs (Small and Medium Enterprises) situated in province of Sindh, Pakistan. Moreover, the data collected was only theoretical therefore, statistical tools have been applied to get the required outcome in numbers, facts and figures. In this paper, external factors called macro environmental factors have also been taken into account which help in creating positive prospect for businesses such as consumer, marketing, advertisement, competitiveness, suppliers and media.

Keywords

• Entrepreneurship
• Customers
• Competitiveness
• Marketing, Suppliers
• Media
• SMEs.