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Small and medium-sized enterprises (SMEs) are a driving force of the global economy, contributing up to 50% of gross domestic product in some instances. They also contribute to economic development through various channels such as employment creation, economic growth and poverty reduction, key elements of the Sustainable Development Goals. Furthermore, in many economies the majority of jobs are provided by SMEs. However, despite their support of the economy, SMEs are prone to several binding constraints, such as access to finance and market entry, as well as exogenous shocks and crises, most recently the COVID-19 pandemic.
Building on evidence from international experience, SMEs and Economic Development in Africa provides grounded solutions to challenges affecting SMEs, particularly in Africa, and offers guidance on how to build resilience to counteract future shocks. It also offers a number of policy measures which governments in developing countries may need to consider in order to encourage economic growth and development, such as increasing productive capacities, training, enhancing business ethics and professionalism and improving competitiveness.
What makes this book distinctive is that fact that it brings together the literature concerning SMEs in one place, and using case studies, it showcases how policymakers can overcome the challenges affecting SMEs. The book also provides tested and practical remedies for African economies with a view to making SMEs a springboard for economic prosperity.
The book will appeal to advanced students, scholars and researchers, as well as policymakers, development agencies and non-governmental organisations.
List of contents
1. Role of SMEs Economic Development in Africa 2. SMEs and Equality in Africa 3. African women owned SMEs post COVID-19: towards a gender sensitive policy development strategy 4. Fostering Global Competitiveness of SMEs in the supply chain post Covid-19 5. SMEs Finance: Challenges and Policy Options 6. Payment of Taxes: Challenges and Options 7. Global Supply Chain and SMEs 8. Building Productive Capacities: The Role of Business Linkages 9. Skills Training by SMEs: Global Experience and South Korean Consortium Approach 10. Access to Markets and Internationalisation of SMEs 11. SMEs and the African Continental Free Trade Area 12. Fostering Business Ethics and Professionalism 13. Enhancing quality and standards among SMEs
About the author
Gift Mugano is an Adjunct Associate Professor of Economics in the Faculty of Management Sciences, Durban University of Technology, Durban, South Africa.
Nirmala Dorasamy is a Full Professor in the Faculty of Management Sciences, Durban University of Technology, Durban, South Africa.
Summary
Building on evidence from international experience, this book provides grounded solutions to challenges affecting small and medium-sized enterprises (SMEs), particularly in Africa, and offers guidance on how to build resilience to counteract future shocks.
