Abstract
In order to clarify the mechanisms causing SMEs’ growth and development the following research questions were asked: What have been the key factors in a SME’s sustainable growth and development? and What is the process of a SME’s growth and development? This study attempts to analyze the mechanisms involved in SMEs’ Business Model change. The Business Model can be defined as a kind of business system or structure which is based on business concepts and also creates and maintains the company’s original value. The Business Model has not been discussed sufficiently in existing studies but it is a useful concept for understanding the mechanisms of SMEs’ growth and development.
