The significance of SME is associated primarily with their role in stimulating economic growth.
Other significant contributions of SME:
Because they are labour-intensive, SME create employment opportunities.
SME enhance regional development and create more equitable income distribution due to their location and ongoing expansion throughout the broader community
SMEs play a vital complementary role in relation to larger firms--as suppliers and distributors.
SMEs serve as a training ground for developing the skills of workers and entrepreneurs.
The presence of SMEs curbs the monopoly power of larger firms and provides the structure of the economy with greater flexibility.
Thus, a country can reduce its vulnerability to financial crises by strengthening its SMEs.
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