Question

What role do small and medium sized enteprises (SMEs) play in the global economy? What role do SMEs play in economic development for a country and for the international economy?

Answer 1

Small and medium enterprises play an important role in a global economy as it covers the employment generation as well as a great chunk of income and profit generation in the economy. These enterprises uses low resources but productivity is high using the scarce resources. Thus, a greater role is being played by these enterprises in the global economy. These roles played by the SMEs lead to economic development and thus leading to contributions to the growth of the economy.