Contributions, challenges and prospects of SMEs

Most people have a broad sense of what constitutes an SME, if only a rather stereotypical image of a young and relatively fragile business. There is a temptation to liken SMEs to the student generation of the corporate community, containing considerable growth potential if only their energy and enthusiasm can be harnessed and channelled in the right direction. Whereas some SMEs will go on to great things in later life, many will probably achieve more modest goals and sadly most will come to a premature end for one reason or another (Shane, 2008).

Related Subject(s): Economic and Social Development