SMEs are the engine room of modern economies, says Sir Charles
Small and medium enterprises (SMEs) are considered to be the backbone of any developed or developing country. According to the Organization for Economic Cooperation and Development (OECD), SMEs represent more than 95 per cent of enterprises and ensure 60-70 per cent of the jobs. Small enterprises are very important in promoting competitiveness and to bring new products and services to the market. It’s fair to say that the performances and the development level of a national economy depends a lot on the capacity to create a good environment for SMEs, which can supply quality services and competitive products at a low cost and in quantities.