The Development Imperatives of SMEs
"Financial Access 2012 - Getting to a More Comprehensive Picture" Published by the International Finance Corporation (IFC) - at Page Number- 42.
4 Pages Posted: 11 Aug 2013 Last revised: 2 Feb 2014
Date Written: October 6, 2012
Small and medium enterprises (SMEs) are a significant contributor to GDP (gross domestic product), employment generation and self-employment creation of any economy. Because micro or cottage enterprises are home-based and have too many limitations, SMEs are comparatively better than the micro or cottage enterprises. SMEs are defined in accordance with the economic advancement level of an economy. Generally, an SME in a developed economy has higher investment, employment and technical knowledge than that of an SME in LDC countries.
EU defines medium enterprises as ones employing less than 250 workers or which annual turnover of less than or equal to 50 million Euro. Small enterprises are those that employ less than 50 workers or the annual turnover of which is equal or less than 10 million euro.
Keywords: Bangladeshi SMEs, Barriers towards SME Development, Small and Medium Enterprises, SME Development in Bangladesh, SMEs
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