...other hand, the State will be a producer of public goods, play a regulatory role to level the playing field and create conducive environment for the private sector to take the lead in driving economic growth. This philosophy is evident in almost all policy statements made since 1986 and in particular after 1996. The private sector has started playing an ever- increasing role in creating incomes and employment. Small and Medium Enterprises (SMEs) account for a large share of the enterprises active in Tanzania. In fact Small and Medium Enterprises are the emerging private sector and do form the base for private sector-led growth. 3. SMEs, important as they are to the economy, have been facing a number of problems despite the on-going reform programmes. This is due to a number of factors, one of which is a persistent culture that has not recognised the value of entrepreneurial initiative in improving the lives of the people. Other factors include complex, bureaucratic and costly legal, regulatory and administrative environment where SMEs are at a greater disadvantage than their counterparts that are larger in size. The high cost of compliance to...
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...EG1413 Critical Thinking and Writing Assignment 2: Position Paper Social Media: An Unexplored Marketing Tool by local SMEs E12 Team Members: Anthoni Giam (A0085111U) Chen Ziyang (A0086387M) Ying Chuan Ong (A0074798H) 1. Background Small and Medium Enterprises (SMEs) have always been crucial for the case of Singapore and as seen from Figure 1, they make up about 99% of the enterprises in Singapore (Singstat, n.d.). SMEs here refer to businesses with annual sales turnover of not more than $100 million or employing no more than 200 staff (SPRING, 2011). Moreover, the importance of SMEs in Singapore’s economic landscape is highlighted by how SMEs “form an important pillar of the city-state's economy, employing 56 percent of workforce and contributing 42 percent of gross domestic product (GDP).” (People, 2007) If the SMEs lose their competitiveness, many workers in the SMEs can be adversely affected and even lose their jobs which could destabilize the society. This is also highlighted by Singapore's Deputy Prime Minister and Finance Minister, Tharman Shanmugaratnam who said that the transformation of Singapore's SMEs is also essential to the incomes and living standards for Singaporeans (TodayOnline, 2012). Note: Adapted from “Composition of Enterprise Size,” by Singstat (n.d.). Social media has a huge role in the marketing field today as it allows companies to interact with in a casual manner while publicizing the companies’ products. It is defined to be...
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...CLUSTERING STRATEGY IN SME DEVELOPMENT : An Integral Development Supports By: Noer Soetrisno Presented at : 2004 APEC INFORMATIZATION POLICY FORUM FOR SMALL AND MEDIUM ENTERPRISES July, 15-16, 2004 SMEs in Economic Development 1. There is no Regional or Global Consensus on SME The Coverage of SME definition are Commonly Associated With : - SMI (Manufacturing Industry) - SMI + Services (Selected) - All Sectors Except Agriculture - All Sectors Include Agriculture 2. Variable to Measure SME - No of employee (Industry) - Assets (Fixed Asset, Asset other than lands building) - Sales 3. The Role of SME in Economic Development - Contributor to Value added (Growth) : About 57% of GDP - Provider of Employment : Contribute to 99.5% of total employment - Potential Contributor to Export : Share about 16-21% of total export - Flexibility and Resilience to Shocks : continue to survive during the crisis, micro and small enterprises more resilience, but medium enterprises are not fully recovered from the crisis up to 2003 •SME Cluster Development in Indonesia - Cluster development approach has been adopted since 1970’s * Small industry zone * Export processing zone * Agglomeration of SME activities - At present exist about 9800 units of Small Industry Cluster : * 78% Low technology group * Productivity / worker : • Low technology IDR 970 Thousand (100) • Medium technology IDR 2 Million (212) • High technology IDR 8.24 Million (849) Government Policies...
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...also called small and medium enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel numbers fall below certain limits. These are the most common businesses found across most of the world’s economies. The World Bank Review on Small Business Activities establishes the commitment of the World Bank Group to the development of the small and medium enterprise (SME) sector as a core element in its strategy to foster economic growth, employment and poverty alleviation. In the context of Bangladesh, the development of Small and Medium Enterprises (SMEs) can be considered as a vital instrument for poverty alleviation and ensure the rapid industrialization. So we can say that the role of Small and Medium Enterprises (SMEs) is indispensable for overall economic development of a country particularly for developing countries like Bangladesh. It has drawn a lot of interest among policy makers, academics, businessmen and people in general. Government of Bangladesh has highlighted the importance of SME in the Industrial Policy-2005. SMEs have been identified by the Ministry of Industries as a ‘thrust sector’. As the SME sector is labor intensive, it can create more employment opportunities. For this reason government of Bangladesh has recognized SME as a poverty alleviation tool. As a result they will enhance the standard of living in rural areas. SMEs (Around the world) : Although the definition of what an SME is varies across nations, the most widely used...
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...and Sciences Accepted by: by: Accepted MASSACiU'E) iS INSTF- I _ Stephen J. Sacca Director Sloan Fellows Program in Innovation and Global Leadership OF TECHNOLOGY JUL 0 2 2007 LIBRARIES l •ei zGwxS UNLOCKING THE POTENTIAL OF SMALL AND MEDIUM SIZED ETERPRISES IN WEST AFRICA: A PATH FOR REFORM AND ACTION By Ibrahima Thiam Submitted to the MIT Sloan School of Management on May 11, 2007 In Partial Fulfillment of the Requirements for the Degree of Master in Business Administration ABSTRACT Small and medium sized enterprises (SMEs) have proven their dynamism in West Africa. They are perceived by policy makers as an important reservoir for growth. The African Development Bank considers they represent over 90 % of business and provide about 50% of GDP and employment in Africa. Despite the consensus on the role of SMEs in these emerging markets, West African SMEs still face many constraints in their development, particularly in accessing financial and other types of resources. This thesis analyses the causes of the constraints faced by small enterprise in countries member of the West Africa Economic and...
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...Management March 18-20, 2013 Problems affecting the growth of small and Medium Enterprises (SMEs) in India Lubina Zaidi Lubina.zaidi@gmail.com Faculty of Management Studies, University of Delhi Small and Medium Enterprises (SMEs) play a pivotal role in the development of the country. It has made significant contribution to industrial production, export and employment generation. In developing countries as well as developed countries they are important from the point of view of employment generations, which is very important in countries like India with huge backlog of unemployment in the urban sections of the economy. It has been observed that their composition depends upon the way the production is being organized in the economy .However in India Government deliberately planned the growth of SMEs to achieve certain economic and non-economic objectives. India has registered a consistent high economic growth (6-9%) over the last decade and was able to survive and sustain world recession triggered in 2008. For the sustainability of this kind of growth proper nurturing of SME sector is imperative. This paper will detail various challenges being faced by Indian SMEs, the role of government in upliftment of staggering Indian SMEs as well as the impact of government initiatives and policies on the upliftment of Indian SMEs. This paper also highlights the recommended solutions so that SME sector is empowered to perform better and prosper in domestic and international arena. However...
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...(Business Monitor International, 2006). As a result, China's SMEs are now facing an economy flooded with foreign capital, and with a more open economic climate than in previous years, but also a much more competitive economy, where many of their previous practices are no longer relevant. This piece aims to examine the effect of these changes on the strategies of Chinese SMEs by first examining the role of the SME in the economy, then analysing the strengths and weaknesses of the Chinese SMEs, and the opportunities and threats that have arisen from China's WTO membership. The piece will then examine Chinese SMEs from a strategic perspective, and the impact the the WTO membership has had on said strategies. Finally, the piece will give strategic recommendations for Chinese SMEs that wish to take advantage of the opportunities that WTO membership offers, and also for those SMEs that wish to avoid the challenges it poses. The Role of SMEs in both the International Perspective and the Chinese Perspective Academics have long realised that small and medium enterprises grow to become the major corporations and businesses of the future (Davis et al., 1985). As a result of this view, greater attention has been given to the role of small and medium sized enterprises (SMEs) in contributing to the economic growth of countries over the past twenty years in countries all over the world. Due to the importance of the role that SMEs play, for the last 15 years governments have urged by academics...
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...Assignment Cover Sheet Student Name: Student Number: Fabiana Vieira Severino Unit Name: 252775 Unit Code: School of Business Charles Darwin University Casuarina NT 0909 Phone: (08) 8946 6830 Strategic Management Accounting Lecturers Name: CMA302 Kevin J CLARK Assessment Title Semester: Year: Assignment Due Date (dd/mm/yyyy): Lodgement Date (dd/mm/yyyy): Applied for Extension: N/A NO One 16/05/2014 YES – to 2014 (dd/mm/yyyy) 16/05/2014 Lodgement Locations: (refer to specific lodgement requirements as set out by the lecturer) DO NOT LODGE BY FAX nor EMAIL nor at LECTURER’S OFFICE • The assignment must be lodged online via the Learnline Assignment Lodgement link on the Learnline site for this unit. Ensure your file is named using a file naming convention that allows the lecturer to identify to whom it belongs. Failure to use an acceptable file naming convention may result in your assignment lodgement being rejected. Refer to the endnotes of the assignment details for lodgement options if the Learnline Assignment Lodgement link for this unit is unavailable. • KEEP A COPY Ensure you have a copy of the assignment lodged. If you have submitted assessment work electronically please make sure you have a backup copy. DECLARATION BY STUDENT I certify that this assignment is my own work, based on my own personal study and research, and that I have acknowledged all material and sources in the preparation of this assignment, whether...
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...enterprise (SME) in Malaysia. The first category comprises agriculture, services, information and communication technology (ICT) with less than 50 full-time employees or annual sales turnover fewer than RM 5 million. The second included manufacturing and agro-industries with less than 150 full-time employees or annual sales turnover not exceeding RM25 million. Small and medium sized enterprise (SME) is the engine for economic growth. Development of SME brings technology development and employment creation. Michael and John (1998) have noted that relative to larger firms, SMEs are well prepared for facing the challenges of increasing competition and globalization of markets. Planning is usually done first by entrepreneur when decided to start a SME. This is because everything else will be depends on the planning makes by the entrepreneur. A business plan plays an important role in obtaining funds and as a blueprint for the enterprise operates towards success. As Peel and Bridge (1998) and George and Jonathan (2002) reported, there is a strong connection between the success of a SME and its long-term planning. In Malaysia, National SME Development Council (NSDC) was established in June 2004. It acts as the highest policy-making body to chart the direction and strategies comprehensive and coordinated development across all sectors of the economy. Some examples of successful SMEs in Malaysia are Unico Holdings (Unico) and Hockpin Precision Sdn Bhd (HP). A SME have better...
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...(B) Small Medium Enterprise (SMEs) 9 (C) Social Media and SMEs 10 Methodology 12 Findings 13 Discussion 21 Conclusion 25 Recommendation 26 Reference 27 Abstract The purpose of the study is to determine the effectiveness of social media as marketing tool for Small Medium Enterprise (SMEs) Companies in Malaysia. The objectives of the study are, first, to determine the level of influence social media on customer knowledge towards the Malaysian SMEs companies brand, products and services and second, to investigate the causes and effects of the usage social media as marketing strategies for SMEs companies in Malaysia. The study was conducted based on a quantitative approach. A set of questionnaire was distributed to 30 random respondents. In addition, the research pointed out that there are a lot of factors influencing the success of social media as a marketing strategy. The conclusion drawn from the research was that internal and external factors are affecting the effectiveness of social media as one of the marketing tools. One of the major limitations encountered in the research was time constraint. Future researchers are advised to conduct this research for a longer period of time in order to collect more data. Keywords: effectiveness, social media, SMEs in Malaysia, quantitative Introduction In today’s technology driven world, social media have become a venue where retailers most of them use it to expand their marketing strategies or campaign to acknowledge their...
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...Credit crunch and SME financing ----Take China as an example * * Shu Ruochen Noah 4063148 * Yuan Ziting Circle 40631 * Chou Xue Snow 40631 * * ABSTRACT ------------------------------------------------- SME are always important forces of social and economic development,and they play important roles in optimizing the economic structure, promoting innovation,easing social pressures and maintaining social stability.However, the world crisis was triggered by financial crisis in 2008 in USA, which has great impact on China’s economy, especially on SME.Since the credit crunch, SME are unable to obtain full production and operation funds needed timely,and Bank loans to enterprises are more cautious, so financing of SME will become more apparently difficult.Therefore, in order to solve the financing problems of SME, exploring development mode and long-term mechanisms which is adapt to economic structural has been an urgent strategic issues. * 1. Definition of credit crunch * A credit crunch is a sudden reduction in the general availability of loans (or credit ) or a sudden tightening of the conditions required to obtain a loan from the banks . * A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates . * 2. Background of Credit crunch. ------------------------------------------------- 2008 the financial crisis took place in USA...
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...Introduction The Small and Medium scale Enterprise (SME) are recognized worldwide as engines of economic growth. The commonly perceived merits often emphasized for their promotion especially in the developing countries like Bangladesh include their relatively high labor intensity, dependence on indigenous skills and technology, contributions to entrepreneurship development and innovativeness and growth of industrial linkages. The case for fostering SME growth in Bangladesh is irrefutable as these industries offer bright prospects for creating large-scale employment and income earning opportunities at relatively low cost for the unemployed especially in the rural areas strengthening the efforts towards achieving high and sustained economic growth which are critically important prerequisites for triggering an exit from endemic poverty and socio-economic deprivation. These promotional arguments for the SMEs, while universally emphasized are often put forward by their ardent advocates in a small versus large context and thus arouse serious debates concerning their economic viability. Much of such controversies may, however breakdown if the intrinsic virtues specific to SMEs and unavailable to large-scale industries are correctly identified and carefully exploited. A combined interaction of the forces of product-mix, location factors, technological advantages and market advantages create opportunities for SMEs to grow and prosper at all levels of development which are often ignored...
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...Strategic Management Conference Comparison of public and non-public SMEs’ corporate governance strategies in Turkey Gülsevim Yumuk Günaya , Sudi Apakb, a c a Trakya University, 22030, Turkey Beykent University, Istanbul, 34396, Turkey Abstract Small and medium sized enterprises (SMEs) are very important for economic development. If proper corporate governance strategies are implemented by SMEs, their growth opportunities are expected to increase. In order to understand the impact of proper corporate governance strategies of SMEs, public and non-public companies are compared. In this study, corporate governance scores for nine public and nine non-public SMEs are calculated. It is found that only three of the public SMEs and none of the non-public SMEs had adequate corporate governance score which is based on Capital Market Board of Turkey’s corporate governance principles about stakeholders. © 2014 Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license th © 2014 Published by Elsevier Ltd. Selection and/or peer-review under responsibility of the 10 International Strategic (http://creativecommons.org/licenses/by-nc-nd/3.0/). Management Conference Peer-review under responsibility of the International Strategic Management Conference. Keywords: SMEs, Corprorate governance, Public firms, Non-public firms 1. Introduction Small and medium sized enterprises (SMEs) are extremely important for all economies in the world. There are ...
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...SME Financing in the United Arab Emirates www.khalifafund.ae SME Financing in the United Arab Emirates Executive Summary 1. Introduction & Context 1.1 Background to the Study 1.2 Objectives of this Work 1.3 Consultations 1.4 Limitations 2.1 Definition of ‘SME’ 2.1.1 EU Definition of SME 2.1.2 World Bank Definition of SME 2.1.3 Criteria Used by Banks to Define SMEs 2.1.4 UAE Definitions of SME 2.2 Current overview of SME prevalence in Abu Dhabi/UAE 3.1 Scale of SME Finance in the UAE 3.2 Supply of Finance by Type 3.3 Sources of Finance 3.4 Stakeholder Mapping 3.5 SME Access to Finance Process 3.6 KPIs / metrics and baseline data 4.1 Key Findings – Supply Side 4.2 Key Findings – Demand Side 5.1 International Research Findings on Key Obstacles to Improving SME Access to Finance 5.2 Critical Success Factors to Improving Access to Finance for SMEs 6.1 Leading Practice SME Ecosystems: Singapore and the United Kingdom 6.2 Key Lessons Learned for the UAE 6.3 Detailed Review of Leading Practice and Regional Comparator Ecosystems 6.3.1 Singapore 6.3.2 United Kingdom 6.3.3 Jordan 6.3.4 Qatar 7.1 The core issues 7.2 n overview of the opportunities for KF and other (public and private) entities to A support SME access to finance in Abu Dhabi / UAE 7.2.1 Legal and Regulatory Transparency 7.2.2 Access to information 7.2.3 Capacity Building 7.2.4 Diversify SME Financing Mechanisms 7.3 Criteria 4 5 5 6 6 6 7 7 7 8 8 8 9...
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...“Conversion of Community Banks to Microfinance Banks will enhance the assessment of women entrepreneurs to financial resources”. Discuss Evaluate the impact of SEEDS in the implementation of MDGs in Nigeria Analyze the impact of Globalization on the economic Development of Nigeria The incidence of the Niger Delta militants groups and its consequences to entrepreneurial development in Nigeria Evaluate the power, composition and functions of NDDC Assess the impact of the multinationals in the Nigerian Economy with regard to FDI and FPI Youths and entrepreneurial Development: Realty or Myth Evaluate the implementation of MDGs and the realization of the objectives by 2015. The effect of entrepreneurial development on poverty reduction The impact of privatization on Nigerian economic development and growth. Evaluate the impact of different reforms in the Nigerian reforms on the Nigeria economy. Women entrepreneurial development (WED) and poverty: what a paradox The impact of women entrepreneurs in SMEs on poverty alleviation Evaluate the cultural factors in Nigeria and entrepreneurial development. Evaluate the financial factors in Nigeria and entrepreneurial development. Evaluate the environmental factors in Nigeria and entrepreneurial development. Gender, entrepreneurship and globalization: Barriers and prospects. Intrapreneurship and achievement of organizational objectives Evaluate intrapreneurship as a motivational concept in an organization Assess the...
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