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A vibrant stratum of small and medium-sized enterprises (SMEs) is critical for the growth and development of Asian economies. These enterprises generate employment, contribute to investment, participate in value chains, and support innovation. SMEs that seek to sustain and grow their operations, however, face a variety of constraints, many of which are directly related to size. These so-called "size-induced market failures" create a role for public policy interventions by governments throughout the region. This book focuses on the market failures encountered by enterprises in the key areas of technology and innovation, credit and finance, education and skills, and market access. Obstacles to participation in the rapidly expanding regional and global value chains are also examined. Among a variety of issues, the book explores the "missing middle" in credit facilities for enterprises that are beyond microcredit but not yet able to secure regular loans from banks. The book investigates the barriers to innovation and how best to combine internal and external research and development. It also looks at the hiring versus training options to build human capital. The various chapter authors examine national and multicountry experiences in South and East Asia, ranging from those in Pakistan to Japan.
Analyzing the development of small and medium enterprises (SMEs) in Asian developing countries, the book is based on a survey of key literature and data on SMEs with the focus on; recent development, export performance, main constraints, competitiveness, innovation and technology transfer, and female entrepreneurs.
The SME Policy Index is a benchmarking tool for emerging economies to monitor and evaluate progress in policies that support small and medium-sized enterprises.
Small and medium-sized enterprises (SMEs), including start-ups and microenterprises, have emerged as an engine of growth for most of the countries in Asia and the Pacific. Their contributions are well-known; they increase production and exports, generate employment and facilitate income growth amongst the population. SMEs serve as a seedbed for enterprise development. Each country has evolved its own policies, institutional framework and support mechanisms for SMEs according to its needs, stage of economic development and culture. The experience of each one of them is unique. Developing a policy guidebook for SME development in the developing countries of the Asia-Pacific region has been a daunting task, when the variety of experiences and the varied policies and programmes of each country are taken into consideration. This book documents specific policy guidelines based on various countries' strategies, their best practices and their applicability in the context of development of SMEs in Asia and the Pacific in addition to the vast experience and expertise of the contributors, researchers and authors of the publication. Many countries as well as various multilateral and bilateral development agencies have implemented a variety of interventions in Asia and the Pacific in line with their SME development strategies, typically in the following key areas: (a) Business environment, including policy and regulatory framework and infrastructure development; (b) Entrepreneurship; (c) Financing; (d) Business development services; (e) Innovation and technology; and (f) Market access. Their interventions typically use several modalities to address the key issues, including policy advocacy, institutional capacity building, human resource development and direct support to enterprises. This comprehensive review of the SME policies and programmes in Asia and the Pacific demonstrates that the nations of the region appreciate the importance of SME development. The SME sector in many countries in the region suffers from numerous threats and challenges that necessitate a proactive approach from policymakers. National governments and various stakeholders in charge of policy planning would do well to recognize not only the threats and challenges, but also the changing needs of SMEs. In this regard, the following useful guidelines are identified for effective policymaking: (a) The reduction of entry barriers (and thus costs) for new businesses; (b) The importance of cash flow to SMEs -- the major reason most new and small businesses fail is not a lack of profits but a lack of cash; (c) The strengthening of entrepreneurship through training and education; and (d) The strengthening of networking and information dissemination, given the fact that a lack of networks and information hinders effective deployment of technology and business development services as well as collaboration with other firms. This publication should provide the basis for deliberations on policy formulation for SME development in Asia and the Pacific, developing and refining the institutional framework based on intercountry experiences. Implementation of policy options and their appropriate selection, based on key factors, is highlighted. The book may also serve as a training manual for entrepreneurs, educators and business associations, such as chambers of commerce and industry, for building up the capacity of SMEs.
Author : Asian Development Bank Publisher : Asian Development Bank Page : 175 pages File Size : 42,59 MB Release : 2020-11-01 Category : Business & Economics ISBN : 9292624504
This is a special chapter of the Asia Small and Medium-Sized Enterprise Monitor (ASM) focusing on the impact of the coronavirus disease (COVID-19) on micro, small, and medium-sized enterprises (MSMEs) in developing Asia. The study is based on findings from rapid MSME surveys conducted from March to May 2020 in Indonesia, the Lao People’s Democratic Republic, the Philippines, and Thailand. The ASM is a knowledge-sharing product series developed as a key resource for MSME development policies in Asia and the Pacific.
Globalized production networks, or global value chains, provide an opportunity for SMEs to upscale their business models and to grow across borders. This process can enhance SME competitiveness, create more jobs, and promote inclusive growth in developing Asia. The Asian Development Bank (ADB) and the ADB Institute (ADBI) recognize the importance of integrating SMEs into global value chains. To provide pathways for such integration, this study examines ways of encouraging participation in value chains, and explores policy solutions to address the financial and nonfinancial barriers faced by these enterprises.
Author : Asian Development Bank Publisher : Asian Development Bank Page : 415 pages File Size : 13,21 MB Release : 2021-12-01 Category : Business & Economics ISBN : 9292691759
The Asia Small and Medium-Sized Enterprise Monitor provides data and analysis as a resource for evidence-based policy design. This year's edition focuses on South Asia. This first volume reviews micro, small, and medium-sized enterprises (MSMEs) at the country and regional levels. It covers Bangladesh, India, Nepal, Pakistan, and Sri Lanka, and examines MSME development, access to finance, and policies and regulations. It notes that revitalizing MSMEs by channeling more growth capital to them will be key to a resilient economic recovery from the pandemic. It highlights opportunities in formalizing MSMEs and connecting them to international markets, expanding digital skills, fostering technology-based start-ups, and supporting youth and women entrepreneurs.
'The book deserves to be read by those who take an interest in industrial development and SMEs in the region. It provides good basic reading before executing more in-depth study into a particular country or sector.' - Henry Sandee, ASEAN Economic Bulletin This volume presents detailed analyses of the role and significance of Small and Medium sized Enterprises (SMEs) in the economies of East Asia. Various aspects of SME operations are studied, including: * the role and significance of networking in the conduct of business * the contribution of culture to business acumen and entrepreneurialism * human resource development constraints and issues * technology transfer processes * the utilisation and application of information technology by SMEs * the impact of electronic commerce * the policy framework needed to stimulate the growth of the SME sector.
This third book in the series focuses on how small and medium sized enterprises (SMEs) contribute to achieving and sustaining growth and performance in their economies, as well as the ways in which governments can assist and enhance that contribution. This is of particular concern given the trauma suffered by East Asian economies in the wake of the financial and economic crisis of 1997-98. Faced with the need to restructure and reform their economies and thereby achieve a firm foundation for future sustainable growth, many East Asian countries actively pursued SME growth, focusing on the encouragement of entrepreneurialism in the private sector. Drawing on the insights of a wide range of SME experts, the book provides a broad coverage of important aspects of SMEs, including: the contribution of micro-enterprises to economic recovery and poverty alleviation measurement and evaluation issues managing knowledge development ethical values in SMEs the internationalisation process entry mode decisions in export markets technological sourcing and use of the Internet. Presenting a contemporary analysis of SME developments in East Asia, both academics and policymakers will find Sustaining Growth and Performance in East Asia of great interest.
Small and medium-sized enterprises (SMEs) account for about 97–99 per cent of total enterprises and 60–80 per cent of total employment in ASEAN countries. The participation of SMEs is thus crucial for achieving greater regional economic integration amongst ASEAN countries. SMEs are, however, often constrained by many disadvantages that limit their abilities to become importers and exporters. This is well documented in the research literature on trade and firm size. This volume contains selected ASEAN country studies on the participation of SMEs in regional economic integration based on primary microdata. This is supplemented by empirical studies on the role played by East Asian multinational enterprises in the region. "The editors and authors of SMEs and Economic Integration in Southeast Asia are to be congratulated for this major contribution to the scholarly and policy literature on a subject of much public discussion but limited analytical research. The emphasis on economic integration highlights the importance of these firms in Southeast Asia’s growing regional and global engagement. The thirteen chapters, by leading authors in the field, comprise both insightful country analyses and careful examination of the links between SMEs and foreign investment." Hal Hill, H.W. Arndt Professor Emeritus of Southeast Asian Economies, Australian National University