Micro, Small And Medium Enterprises Performance Indicators – Possible Application In The 5.0 Society

Abstract

Small, and Medium Enterprises (MSMEs) have an important role for economic development, especially in providing employment and income distribution, but their real contribution is still considered low due to inconsistencies in their performance indicators. This study is intended to explore subjective and objective performance indicators applied by both external and internal SME stakeholders. Data were collected using a comprehensive literature review. The results reveal that financial performance such as return on investment and return on assets exist as the main indicators for objective performance while creating jobs, a better life and wealth for families for subjective performance indicators. Further suggestions and avenues for future research in society 5.0 are discussed.