The development of SMEs and their potential contribution to the global economy essay
According to Villars 2004, SMEs contribute to Ghana's gross profit. Domestic Product GDP and account for businesses in Ghana. This is also evident from statistics from the NBSSI. The World Bank estimates that SMEs, among other things, provide employment worldwide. In Mauritius, of all enterprises, SMEs employ 50 and 35.7 of them. The empowerment of small and medium economic enterprises will stimulate economic growth. The purpose of this study is to analyze 1 how economic growth works as a determining factor for increasing the productivity of small and medium enterprises, 2 the influence of government policies, support for business capital and its strengthening. The global economy is multi-faceted and it is very difficult to measure the impact of numerous individual factors on it. A number of researchers Boretos, 2009 Nguyen and Le, 2019 have probed this complex global economy, but a holistic approach to measure all its dimensions is still lacking. So it is necessary to make the, Philippine Daily Inquirer, 05: Small and medium enterprises, SMEs. of all registered businesses in the Philippines and employs a percentage of workers. Both developing and developed countries have equal opportunities to participate in the globalization of the global economy. However, their contribution is determined by their economic stability. To do this, they must free themselves from all the stereotypes about development frameworks that Western powers have created for the benefit of their own countries. Small and medium-sized businesses, SMEs, played an important role in domestic employment and inclusive GDP in developing countries such as Ethiopia. Therefore, the aim of this study is to investigate the determinants of sustainable growth of SMEs in developing countries, especially Ethiopia. To achieve the objectives, Abstract. Small and medium-sized enterprises, SMEs, are considered the fundamental instrument for the economy. growth, yet they face ongoing financing problems. SMEs are an important source. for. Small and medium-sized enterprises are the backbone of the global economy and play a crucial role in promoting economic growth, innovation and employment. These entities, often defined by their size in terms of employees or financial metrics, play a crucial role in driving economic dynamism and contribute significantly to gross profits. Supporting SMEs is crucial for global and local economic growth. SMEs can increase their future readiness through talent management, digital transformation and sustainability measures. Market access remains a significant challenge for SMEs in the Philippines. Business associations play a crucial role in supporting SME development. The correlation between globalization, economic growth and poverty reduction. During the period when international trade expanded, average world income increased substantially and the share of the population living in extreme poverty continued to decline. GDP per capita is a commonly used metric for measuring the national average. Micro, Small and Medium Enterprises MSMEs have a potential impact on achieving many of the Sustainable Development Goals that far exceeds their size. This review aimed to examine the existing literature on the contribution of MSMEs to Ethiopia's sustainable development and its challenges. The overview indicates the following: Given that the.