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Policy Guidebook for SME Development in Asia and the Pacific

image of Policy Guidebook for SME Development in Asia and the Pacific
As drivers of economic growth and prosperity, small and medium enterprises (SMEs) play a key role in economic development. However, the SME sectors of developing Asia-Pacific economies face issues (both general and nation-specific) that hinder their growth. There is a strong need to tackle such issues while taking into account the variety of experiences, policies and programmes of different countries. Covering major SME constraints — business enabling environment, entrepreneurial culture, access to finance, innovation and technology adaptation, business development services, and market access — this publication proposes public policy guidelines with an aim to develop a vibrant SME sector. It serves as a training manual for entrepreneurs, trainers as well as business associations for SME capacity building.

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Introduction

Small and medium-sized enterprises (SMEs) continue to make significant contributions globally. SMEs are a key source of economic growth and dynamism in all economies. Adaptability, resilience and the ability to manufacture goods and to provide services with a high degree of flexibility and cost effectiveness are hallmarks of the SME sector. Innovations based on proper marketing have been the unique and biggest strength of SMEs. Small businesses are particularly important for bringing innovative products and/or services to the market. A number of modern products, especially electronics and ICT products, owe their origin to the SME sector.

English

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