The Micro, Small, and Medium-Sized Enterprises and Its Role in the Economic Development of a Country

Abstract

Undoubtedly, micro, small, and medium-sized enterprises (MSMEs) play a central role in many countries’ economic development. They are a major source of entrepreneurial skills, innovation, and employment account for most businesses worldwide. MSMEs are important contributors to job creation and global economic development, representing 90% of businesses and more than 50% of employment worldwide.