With a view to have a clear understanding of the status of small and medium enterprises (SMEs), challenges they face, as well as SME development practices put in place, the International Society for Small and Medium Enterprises (ISSSME) has been working to bring out a comprehensive Report on world SME sector titled “World SME Report”. The Report delves into three broad areas such as the why SMEs are important; what are the challenges that influences their diversification & competitiveness; and how & what support systems have been adopted over the years to promote them as priority sector. This would give more clarity and fair picture of SMEs as well as support mechanisms and institutions associated with their promotion in different countries across the globe.
The Report – the first of its kind in the SME sector – would not only be of immense help to the SMEs but also to the policy makers, their support institutions and other stakeholders engaged in SME promotion worldwide. This would give a new direction as well as help in many ways to the researchers working in the field and would also act as good referral piece for comparative analysis apart from availing information.
The report would no doubt create immense curiosity among all concerned SME stakeholders and become a guiding tool for many. Since the Report would encompass all the countries of the world, it would be highly useful for policy makers as it would be easier for them to have a policy comparison. SMEs will also be greatly benefited as it would give a new dimension to their competitiveness. It would indirectly help in devising pro-SME policies and programmes. This in turn will be useful in creating more employment opportunities, eradicating poverty, reducing income disparities, empowering women, make SMEs more responsible towards society and environment, etc. In other words, this report would help in achieving inclusive goals.
The overall objective of this project is to bring out a comprehensive and most sought after resource document for SMEs and their related stakeholders. Other objectives that would also be given due focus in the Report are: to review the definition and structure of SMEs in different countries, study the current trend in SMEs in different countries, compile globally emerging best practices, take stock of various schemes and programmes in different countries, etc.