The Role of Small and Medium Scale Enterprises in Economy Development

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ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as Vestasll as guidance they provided without which I would have never been able to do this research.

DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as Vestasll as professional level previously. It is also representing my very own views & not essentially which are associated with university.

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ABSTRACT

In this thesis, SMEs are defined as all enterprises with 500 or fewer employees. Reflecting upon their performance in the Western developed economies; we learn that the SMEs' primary contributions are the positive impact on innovation and the rate of job creation. In the context of transition economies, SMEs play additional roles. At the onset of transition, SME sector emerged to fulfil the demand for goods and services unsupplied by the socialist, large-enterprise sector. It was a general contention of the respondents that many risks are inherent in such businesses of SMEs, amnd that they should be overcome if the sector is to survive and flourish. A common analysis of the ways and interventions to cope up with the risks in SME's sector is described in this section, with an attempt to derive important lessons about the risks associated through the views of the respondents. small and medium enterprises invest aggressively in the sector, and customer relationship management, which can be integrated with infrastructure for information technology very easily, which also contribute significantly to meet the dynamic needs of these institutions. The strength in this area lies in an enhanced customer support framework, which guarantees customers with speed and growth in both spheres.

Table of Contents

ACKNOWLEDGEMENT2

DECLARATION3

ABSTRACT4

CHAPTER 1: INTRODUCTION7

Background of the Study7

Research Aims and Objectives9

Research Questions9

Significance of the Study10

Limitations of Study11

CHAPTER 2: LITERATURE REVIEW12

The Role of Manufacturing in Economic Growth14

Generic definition for SME'S in the Developed Nations15

Role of SMEs16

Innovation20

Employment Growth24

Flexible Specialisation25

Features of SMEs26

SME's Contribution to Development and New Challenges27

Negative Factors in Small and medium sized Businesses28

Small and Medium Businesses in Context of Globalization29

Complementarities between Large and Small Companies30

CHAPTER 3: METHODOLOGY32

Qualitative Data Collection Methods32

Research Design33

Research Technique and Process35

Interviewing Techniques: Usefulness in the Study36

Characteristics of the Interview36

Advantages of Informal Interview39

Disadvantages of Semi-Structured Interview40

Sampling Method40

Participants41

Ethical Concerns41

CHAPTER 4: FINDINGS AND ANALYSIS43

Overcoming Associated Risks52

CHAPTER 5: CONCLUSION55

Suggestions for the SME's Sector56

Future Implications of Research58

REFERENCES60

APPENDIX64

CHAPTER 1: INTRODUCTION

This chapter provided an outline of the study along with mentioning the key aim and objectives that will be attained through the research project. The researcher had laid down the background of the study, evaluating the significance of the topic chosen for research. The chapter consisted of a distinctive aim of study that directed the course of the project, and the objectives through which that aim would be achieved. The significance of the study established its importance and the outcomes expected to be ...