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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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Suggested policy framework for the development of SMEs

The SME sector has demonstrated its inherent strength by making significant contributions to national economies in Asia and the Pacific. SMEs help in the development of entrepreneurship, the creation of employment opportunities and social empowerment, particularly for women, the expansion of trade and, above all, income generation. All of these factors raise the standards of living for the nation as a whole. Adaptability, resilience and the ability to manufacture and render services with a high degree of flexibility and cost effectiveness make SMEs a force in today’s global economy.

English

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