Small and Medium Enterprises: Issues, Challenges and Solutions

Small and medium enterprises (SMEs) are defined as non-subsidiary, independent firms which employ less than a given number of employees, which varies from one country to another. They play an instrumental role in the economic growth of a country because they generate a number of new jobs. The potential contribution of smaller firms is enhanced with the advancement in technologies and globalization. SME’s are more flexible and responsive to customer needs than large scale organizations becau...