SME's are small, medium enterprises.
Many economies developed and developing have come to realise the value of small businesses. They are seem to be characterised by dynamism, witty innovations, efficiency, and their small size allows for faster decision making process.
The benefits of SMEs cannot be overemphasized they include; contributions to the economy in terms of output of goods and services, creation of jobs at relatively low capital cost, especially in the fast growing service sector;
Its a vehicle for the reduction of great income difference thus developing a pool of skilled or semi-skilled workers as a basis for the future industrial expansion.
It offers an excellent breeding ground for entrepreneurial and managerial talent, the critical shortage of which is often a great handicap to economic development among others.
So get this straight; Mama sikiratu's little store in your neighbourhood is not an example of SME's in Nigeria. #lol#
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