Essay about Importance Of Small And Medium Enterprises

1463 Words Dec 22nd, 2016 6 Pages
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 GDP than large companies, contribute to improved live standards, bring considerable local capital formation and attain high level of productivity, poverty reduction wealth creation, equitable distribution of income and bridging the inequality gap. The economic successes of many countries are attributable to vibrant SMEs (Okafor, Ugochukwu, and Chijindu, ) However , Morina, Kurhasku, & Krasniqi, they discussed that SMEs demonstrate a high degree of innovation, flexibility and adaptation to changes that occur in the environment. SMEs are market-oriented local economies. According to Yahaya, Geidam, & Usman, They present that is difficult to define SMEs using size and scale of operation, but it can be done within fixed co-ordinates of…

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