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.



Executive summary

In the Asia-Pacific region small and medium-sized enterprises (SMEs), and microenterprises, constitute a significant majority of the economy and play a central role in enhancing economic dynamism, innovation and job creation. Development of this sector has been widely acknowledged as a crucial strategy for growth both in developed and in developing economies of the region. This is not an easy feat, as a number of challenges and barriers need to be understood and overcome. It demands comprehensive policies to address a variety of connected issues while also working with, and meeting the needs of, a range of local, national and global stakeholders.


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