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SMEs and Economic Development in Africa

SMEs and Economic Development in Africa

Hardcover

Series: Routledge Studies in Development Economics

EconomicsManagement

ISBN10: 1032536934
ISBN13: 9781032536934
Publisher: Routledge
Published: Sep 15 2023
Pages: 220
Weight: 1.13
Height: 0.56 Width: 6.14 Depth: 9.21
Language: English

Small and medium-sized enterprises (SMEs) are a driving force of the global economy, contributing up to 50% of gross domestic product in some instances. They also contribute to economic development through various channels such as employment creation, economic growth and poverty reduction, key elements of the Sustainable Development Goals. Furthermore, in many economies the majority of jobs are provided by SMEs. However, despite their support of the economy, SMEs are prone to several binding constraints, such as access to finance and market entry, as well as exogenous shocks and crises, most recently the COVID-19 pandemic.

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