The Concept and Model of Small Enterprise Hub for Developing Countries

doi: https://doi.org/10.35536/lje.2000.v5.i2.a8

Iqbal M. Khan



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Abstract

In a rapidly changing global economy, small enterprises are increasingly a force for national economic growth. Since the 1970s, SEs and the entrepreneurs who drive them have received serious attention by planners, multilateral agencies and governments the world over. Yet there is the need for the management of the environment at the macro level to facilitate the growth of the SE sector. There is a need for setting up and managing institutions and networks which support directly, indirectly, formally, informally, the growth business at the regional and national level. This also calls for the development of entrepreneurs and their team, development of the organisation and the business. The engine of change in all the new economies has been the small and medium enterprises (SMEs) but the growth of the sector was not a response to problems of economic crises of the 1970s and 1980s but it has been observed as a trend that emerged as a wave of change. Hence the chaos and scramble to move according to the trend. The other notable contributing factor for the emergence of Small Enterprises (SEs) is the IT business industry and the worldwide trend towards the service industry sector.

Keywords

Developing countries, SME, support infrastructure, development