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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.

English

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Entrepreneurship development

Economic growth hinges upon entrepreneurship. A vibrant entrepreneurial climate provides new jobs, increases competitiveness, and produces novel goods and services. It is not surprising, therefore, to learn that policymakers attempt to increase entrepreneurial activity in numerous ways. They may reform the regulatory environment in order to reduce the number of permits and licences required to start a business. They may make more capital available to new firms via loans, subsidies or tax incentives. They may also increase the amount of resources devoted to education in general and business education in particular, in order to create a set of attitudes and skills in the populace that is conducive to entrepreneurship. Indeed, a dearth of entrepreneurial and managerial skills is a major impediment that less-developed economies face.

English

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