... AUD4325 TABLE OF CONTENT 1. INTRODUCTION 2.1 DEFINATITION 2.2 SMEs IN DUBAI 2. SERVICES PROVIDED BY UAE GOVERNMENT TO SMEs 3. GOVERNMENT INITIATIVES TO PROMOTE SMEs 4. IMPORTANCE OF SMALL AND MEDIUM ENTERPRISES 5. SMEs ROLE IN THE ECONOMY 6. PROBLEMS TO SMEs 7. BARRIERS TO SMEs 8. CONCLUSION 9. REFERENSING INTRODUCTION 1.1 DEFINATION The small and medium sized enterprises (SMEs) have got very few resources, opportunities or turnover which is upto a certain extent. The definations of SMEs are flexible. This is variable from person to person. There are many people who use the word SME for those firms who have less than 500 employees, whereas some use this word for those businesses that have more than 500 workforces. However, some use the word “Big Businesses” for the organizations that have more than 500 employees. If we look at the middle east, it can be easy to see that there are numerous differences in which a regional can be taken into an account. It is also widely understood that the SMEs are the very important part of the economic fabric and they also play a major role in the growth of the economy. In most of the economies the SMEs represents an employment of around 60% to 70% and the GDP of more than 50%. In Abu Dhabi they represent almost 25% of all the private organizations. 1.2 DUBAI SME: Founded In 2002, the department of economic Development (DED) was being created as an combined...
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... 2. Economic Reform Programmes implemented by the Tanzanian Government have been based on the philosophy that Tanzania is committed to a market economy whereby the private sector will take the lead in creating incomes, employment and growth. On the 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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...enterprises. Modern businesses are not possible without help of information technology, which is having a significant impact on the operations of Small and Medium Sized Enterprises (SME) and it is claimed to be essential for the survival and growth of economies in general. SME is drawing attention in developed and developing countries as well as in transition countries. It is generally recognized that SME play a key role in the revitalization and development of national economy in many countries and particular in the context of Kosova. It is encouraging the development of SME and the role that SME sector can play in promoting economic and social development by creating opportunities for employment. These components are described and discussed while more research and studies on the adoption of information technology in SME in Kosova are proposed as necessary. Key words: Information technology, Small and Medium Sized Enterprises (SME), Business, Economy. 1. Introduction Small and Medium Sized Enterprises (SME) play an important role in economic development of a country. Several theories elaborate on connection between information technology, economic development and social change. Almost all agree on the importance of information and communication technology adoption in SME, while the importance...
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...SME Financing in Bangladesh: Problems and Prospects SME Financing in Bangladesh: Problems and Prospects Prepared for Arafat Rahman Assistant Professor Institute of Business Administration Jahangirnagar University Prepared by Tanjila Sharmin 201301029 Md. Mourshed Uddin 201303006 Naim Ahmad 201403020 Sayeed Ishtiaque Ahmed 201403027 Md. Sazzad Hossain 201403034 Course Participant BUS 501: Managerial Communication (Section-02) WMBA Program Institute of Business Administration Jahangirnagar University December 20, 2014 Letter of authorization November 23, 2014 Course Participant BUS 501: Managerial Communication The purpose of this report is to familiarize you with the basic techniques and principles associated with writing a formal business report so that you can build and enhance this specific written communication skill. This formal report will be coordinated with a formal presentation session on the topic of the report. At a minimum, your report should include information related to the following issues: Introduction to the Industry/Sector/Area – What is the industry/sector/Area? What is the background of the industry/sector/Area in Bangladesh? Who are the major participants? You may show how the industry/sector/area is contributing to the economic development of the country. In this case, you must use industry-related data for the past three years (at least). In case of export-oriented industries...
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...Institutional Financing of SME in Bangladesh [pic] [pic] TERM PAPER ON Institutional Financing of SME in Bangladesh Submitted By: ID- Program- BBA Premier University, Chittagong Submitted in partial fulfillment of the requirements for the Bachelor of Business Administration. Submitted To: Ms. Nilufar Sultana Lecturer, Dept. of Finance & Banking, Faculty of Business Studies, Premier University, Chittagong. DATE OF SUBMISSION: /09/2012 Letter of Transmittal Date: To Ms. Nilufar Sultana Faculty of Business Studies Premier University, Chittagong Sub: Letter of Transmitter on Term Paper Dear Madam, This is my pleasure to submit my term paper report on “Institutional financing of SME in Bangladesh” which I was assigned. It was a great opportunity for me to acquire knowledge and experience in respect of the functions, procedures and operational activity, other than my topic of study. I have concentrated my best efforts to achieve the objectives of the assignment study and hope my endeavor will serve the purpose. However, I will always be ready to provide any further clarification that you may require. Sincerely Yours, ID# Program: BBA Batch Number: 16 8th Semester Section: Major:...
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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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...distribution SMEs are very crucial. In addition to developing countries SMEs are important to almost all economies in the world. In many countries, SMEs are the key actors in generating well-brought-up employment in most developing countries involves the expansion of this sector fast enough to absorb people previously unemployed (a few) or engaged in low productivity informal sector jobs and the majority of jobs are provided by SMEs, In low-income countries, especially where the informal sector is large, but it is still significant. The SME sector’s contribution to GDP also confirms its economic importance. In high-income countries,...
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...THE IMPORTANCE AND CHALLENGES OF MANUFACTURING IN MALAYSIA Recently, manufacturing industries in Malaysia grow very rapidly if compared to previous decades. With the rapidly grow of manufacturing industries, the government has to play its role in order to ensure every aspect of current trading policies and regulatory to be obeyed. Other than that, this will ensure that the current trading and manufacturing environment in Malaysia to be peaceful yet globally competitive. In this report, a number of importance and challenges faced by manufacturing sector in Malaysia will be focused on. The scope of this report only covers the situation in Malaysia manufacturing environment and at the same time, it will explain some benefits that our nation can get from the cooperation with developed countries such as Australia and Japan. Manufacturing Sector in Malaysia and its Importance To start with, manufacturing sector in Malaysia contributes almost 80% of overall country’s export and besides, Malaysia also known as the 17th largest exporting nation in the world [1]. For that reason, Malaysia’s government has to work hard in order to maintain, preserve and enhance our manufacturing sector. From [1], it is stated that products manufactured in Malaysia are accepted in developed countries such as US, EU and Japan. This shows that our manufacturing sector already achieved a level that can be proud of. Due to exporting her product to other countries, Malaysia has to obey some...
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...Introduction Entrepreneurship is becoming of vital importance in the economies like Pakistan. Entrepreneurship is strongly related to small medium enterprise (SME), which is considered to be the main developing force of the developing economies market. Previously many economists believed that it is the large firm which contributes in the developing of economies and attracts foreign exchange in the country. But there point of view changed when countries like Taiwan, Japan, and Korea established their economies on the bases of SMEs. These economies build up from grass root level to the heights of success. According to Schapper (2006), in developing nations more than 90% of the firms fall under the category of SMEs and he also above than 90% of these firms are microenterprises. Pakistan is also one of the countries focusing on the development of SMEs. Almost 13 years ago Govt. of Pakistan established institution named SMEDA; small and medium enterprise authority, responsible for the guidance and the promotion of SMEs. SMEs are very heterogeneous business operating in many different sectors such as trade, agri- business and manufacturing (Hussain et al, 2009). Pakistan is a very potential market for SMEs. Before very less or no importance is given on the business research which could attract many foreign investments. There are certain issues regarding the success and failures of SMEs which need to explore out and address. What is Entrepreneur? The term entrepreneur...
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...SUMMARY Overall, the SME FDI is currently an extremely valuable initiative. Through appropriate and careful analysis of the data, public policy can be directed yet more efficiently to further improve competitive advantage of Canada's SMEs. In particular, the baseline survey associated with the SME FDI is an extraordinarily valuable research undertaking. It provides the potential to assess directly the extent to which financing gaps might occur in the capital markets on which SMEs rely. This is an important issue in practical terms, in terms of the role of public policy, and in terms of economic and finance theory. The SME FDI baseline survey data provides, for the first time internationally, a means of empirically testing Nobel prize-winning ideas related to information asymmetry and capital rationing. The data provides a means of providing yet better guidance for public policy with respect to addressing potential capital market imperfections that might constrain growth and economic development of SMEs. As designed, the research initiative can and will provide valuable information about these issues. In summary, the baseline survey undertaken as part of the SME FDI is a potentially invaluable resource with respect to the design, targeting, implementation, and follow-up assessment of public policy approaches to nurturing SME growth and viability. The outcomes of this research process could help Industry Canada and its partners to provide Canadian SMEs with substantial competitive...
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...[pic] MZUMBE UNIVERSITY DAR ES SALAAM BUSINESS SCHOOL COURSE TITLE: MBA CM SUBJECT CODE: ECO 5011 SUBJECT NAME: MANAGERIAL ECONOMICS NAME: MICHAEL KISAKA TASK: TERM PAPER REGISTRATION No. MBA/CM/DCC/412/T.11 SMEs IN TANZANIA, THEIR IMPORTANCE AND CHALLENGES TOWARDS NATIONAL ECONOMIC GROWTH. Lecturer: Dr. G. Kinyondo December, 2011 | | |TABLE OF CONTENTS |PAGE NO. | | | | |Acknowledgement |1 | | | | |Abstract |2 | | | | |Structure of the Report ...
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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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...SME defined by SBP as an entity having less than 250 employees and Rs. 300 million revenues. SMEs account for a substantial part of the economy; there are about 3.2 million enterprises in Pakistan, of which about 3 million (93%) are SMEs. SMEs spread across the economy with varying density: see exhibit 1-A for the sector wise division of SME sector. According to a survey conducted by SMEDA, this sector contributes more than 30% to GDP and 25% to the country’s total export earnings, and employs close to 70% of the labor force in the manufacturing industry, services, and trade. Their share in manufacturing value addition is estimated to be around 35%. Small & medium businesses play a very critical role when economies are transiting from low to middle income levels yet Pakistan has paid less attention to the growth and development of this crucial pillar of economy. Our report mainly focuses on the financial constraint to growth of this sector. Capital requirements: According to SMEDA there’re 800,000 SMEs in Pakistan that are eligible for bank loans. Another 2.4 million potential businesses that can’t qualify for bank loans mainly rely on other sources of finance for their business needs. Approximately 89% of working capital and 75% of fixed investments are financed from retained earnings. (See exhibit 1-B) Remaining financing needs are fulfilled from external sources which include family and friends, bank loans and other small sources as depicted in exhibit 2-A. Despite the...
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...THE SMALL AND MEDIUM ENTERPRISES (SME) IN BANGLADESH: AN OVERVIEW OF THE CURRENT STATUS DR. MOMTAZ UDDIN AHMED VICE CHANCELLOR STATE UNIVERSITY OF BANGLADESH 1.0 The Case for the SMEs The SMEs1 worldwide are recognized 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 labour 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 un-and 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, locational...
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...activities and creation of job opportunities. Small enterprises are considered as main driver for innovation, poverty reduction, employment generation and social integration. Due to innovation in SME sector, the production capacity may amplify which has significant impact for the promotion of economic and social development in the Caribbean. In the Caribbean, although there has been a long history of entrepreneurship spirit, the SME development was slow and limited to the few sectors that were available. It was only in the early eighties where some diversification took place with the start of the tourism development. Since then, Tourism has become the main economic activity of many countries and destinations in the region. Two decades later, all related SME developments in the hospitality, the light manufacturing, agro-processing and the service sectors seems to be insufficient to give us a competitive edge in keeping up with the world’s economic and social developments. One thing everybody agrees on is that, regardless the size or the nature of any economy, no effective Globalization is possible without SME Development. In fact, gradually the SME Sector is becoming the major source of employment and tax generation. In the large economies, the SME development has covered almost all sectors and has shown several measured successes that has attracted the full attention and support of Governments and the Decision Makers. They became the measuring sign of economic growth and stability...
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