Over the past 50 years, the success of SME development in Taiwan has played an important role in the economic growth, and even today, many developing countries are interested in learning from Taiwan¡¦s experience. In fact, SME development in Taiwan has made remarkable contributions to the expanding of foreign trade, the strengthening of market competitiveness, the boosting of national income, the creation of jobs opportunities, the balancing of regional development, and the influence on social stability. In this study, we first studied the key success factors in Taiwan¡¦s SME development through the review of related literature. Then, we attempted to find that the majority of scholars and experts had a common view of Taiwan¡¦s SME key success factors, which are concluded as social culture and psychology factors, historical and economic factors, and government policy factor. Secondly, we intended to make questionnaires from the Ministry of Industry and Trade, the Mongolian Chamber of Commerce and Industry, and SME owners. The main purpose is to research for the opinions of three different parties on SME development in Mongolia, such as government roles, present situation, future development strategies, and opportunities to learn from Taiwan¡¦s experience and successful development factors. Here were 120 responses received at the end of this survey. The data were analyzed by SPSS software using descriptive statistics, one way ANOVA, Pearson¡¦s correlation, and factor analysis. The results showed that there were significant differences between the three organizations. In addition, this research tried to make an effort to suggest future SME development strategies in Mongolia on the basis of external and internal environment analyses using a SWOT model. Finally, on the basis of above results, we proposed several policy recommendations for relevant organizations that get lessons from Taiwan¡¦s experience and revealed some key success factors in SME development into the ground of Mongolia.