The Financial Innovative Business Strategies of Small to Medium Scale Enterprises in Developing Country and Influence for the Global Economy Performance

Abstract

The paper summarizes the arguments and counterarguments within the scientific discussion on the issues such the financial innovative business strategies of small to medium scale enterprises in developing country and influence for the global economy performance. The main purpose of this scientific research study problem is the impact of all business strategies of small to medium scale enterprises for the global economy performance. The methodology is the synthesis literature review then observation all current and prior existing literature and facts available for the purpose of understanding the current financial business strategy withing small to medium scale enterprises in developing country. The strategies observed could assist the theorists, regulators, and scholar-practitioners in seeking solutions that may change the narrative of SMEs having stunted growth or dying before their fifth anniversary. The findings from this study could help understand what strategies work and those that do not work for SMEs. Once SMEs begin to grow and thrive beyond five years, there will be an improvement in employment level, general production level, and economic growth, which is considered a significant positive social change. The research contributed to the advancement of scientific knowledge in that is provided a research study on the financial innovative business strategies and influence for the global economy performance. The methodological implication is grounded on the fact that three different methods were used to triangulate the data collected; semi structured interview, field notes, and document reviews. The study methodological implication includes, achieving the qualitative hermeneutic phenomenological method of data collection and study. Keywords: financial innovation, microfinance, entrepreneurship, world development.