Table of Content:
1. Definition and Importance of small and medium enterprises.
2. SMEs in Egypt Overview.
3. Challenges of the micro, small and medium enterprises (MSMEs) sector in Egypt.
4. Access to finance in Egypt.
5. Number of SMEs operating in Egypt.
Literature review:
Definition and Importance of SMEs: There 's no specific definition for SMEs, definition of SME varies according multiple standards such as Size of capital, number of employes, laws and regulation in different countries,etc. Small ,medium enterprises (SMEs) is widely recognize as the engine if sustainable economic growth and development , the crucial of SMEs is trace to employ greater number of people, it has higher contribution to …show more content…
While there have been efforts to improve the business environment for local entrepreneurs, these efforts have been diluted by a lack of sustained commitment to substantive changes and an unwillingness to risk upsetting the established order.According to Egypt’s Doing Business Report of (2014), the country is still facing structural challenges that impede private-sector activity. With an aggregate ease of doing business ranking of 128 among 189 economies, Egypt still has room for much improvement—for example, via clearer and more transparent rules applied more consistently. Such rules would facilitate rather than to block the private sector in Egypt, where the need to encourage entrepreneurship is thus perhaps even more urgent than in other countries. The Government of Egypt should prioritize SME encouragement as part of its short- and long term strategy for development. For example, the government should allow temporary business licenses (able to be transformed into permanent licenses by the power of law within thirty days) and offer tax exemptions to SMEs for five years from the date of establishment.The number of M/SMEs in Egypt in 2003 accounted for 2,576,937 enterprises. These are distributed as 2.4 million microenterprises representing 93.5 percent; 127,631 very small enterprises (4.97 percent); and 40,305 small and medium sized enterprises (1.56 percent). Microenterprises were identified as employing from one to four
1. Definition and Importance of small and medium enterprises.
2. SMEs in Egypt Overview.
3. Challenges of the micro, small and medium enterprises (MSMEs) sector in Egypt.
4. Access to finance in Egypt.
5. Number of SMEs operating in Egypt.
Literature review:
Definition and Importance of SMEs: There 's no specific definition for SMEs, definition of SME varies according multiple standards such as Size of capital, number of employes, laws and regulation in different countries,etc. Small ,medium enterprises (SMEs) is widely recognize as the engine if sustainable economic growth and development , the crucial of SMEs is trace to employ greater number of people, it has higher contribution to …show more content…
While there have been efforts to improve the business environment for local entrepreneurs, these efforts have been diluted by a lack of sustained commitment to substantive changes and an unwillingness to risk upsetting the established order.According to Egypt’s Doing Business Report of (2014), the country is still facing structural challenges that impede private-sector activity. With an aggregate ease of doing business ranking of 128 among 189 economies, Egypt still has room for much improvement—for example, via clearer and more transparent rules applied more consistently. Such rules would facilitate rather than to block the private sector in Egypt, where the need to encourage entrepreneurship is thus perhaps even more urgent than in other countries. The Government of Egypt should prioritize SME encouragement as part of its short- and long term strategy for development. For example, the government should allow temporary business licenses (able to be transformed into permanent licenses by the power of law within thirty days) and offer tax exemptions to SMEs for five years from the date of establishment.The number of M/SMEs in Egypt in 2003 accounted for 2,576,937 enterprises. These are distributed as 2.4 million microenterprises representing 93.5 percent; 127,631 very small enterprises (4.97 percent); and 40,305 small and medium sized enterprises (1.56 percent). Microenterprises were identified as employing from one to four