Advantages

Developing small and medium enterprises (SMEs) helps to achieve sustainable growth as a centralized theme. SMEs play a vital role in the country’s overall production networks and they are core to the economic growth of developing countries. The contributions of formal SMEs are 50% of total employment and 33% of the national income of emerging economies. While including informal SMEs the percentages will be increased.

• Encourages Team Spirit
• Availed with easy loan
• Taking immediate decision
• SMEs direct involvement

Importance

SME establishment is considered to be important at present days. They involve in job creation in this modern day economy. In recent times it would have been noticed that the unemployment reduction all over the world is due to the lots of emerged SMEs. Out of the SMEs contribution, there is a significant growth in GDP and proper money flow across the economy is noticed. SME charges lower rates to their clients by providing a quality business.