ECONOMIC CONTRIBUTIONS OF SMES: CHALLENGES IN ACHIEVING SUSTAINABLE DEVELOPMENT
Keywords:
SMEs, sustainable development, economic growth, innovation, challenges, policiesAbstract
Small and Medium-sized Enterprises (SMEs) play a pivotal role in economic development by fostering innovation, creating employment, and driving GDP growth. However, achieving sustainable development through SMEs is fraught with challenges, including limited access to finance, insufficient technological capabilities, and regulatory bottlenecks. This article investigates the economic contributions of SMEs to sustainable development and explores the barriers hindering their potential. The findings underscore the need for tailored policies and innovative strategies to empower SMEs as key drivers of sustainability.
References
1. World Bank. (2022). Small and Medium Enterprises (SMEs) Finance. Retrieved from https://www.worldbank.org
2. United Nations. (2021). Sustainable Development Goals Report. Retrieved from https://www.un.org
3. OECD. (2020). SME and Entrepreneurship Outlook 2020. OECD Publishing.
4. IFC. (2019). MSME Finance Gap: Assessment of the Shortfalls and Opportunities in Financing Micro, Small, and Medium Enterprises. International Finance Corporation.
5. Schaltegger, S., Hansen, E. G., & Lüdicke, C. (2016). Business models for sustainability: Origins, present research, and future avenues. Organization & Environment, 29(1), 3-10.
6. Bakhtiyorov, A. (2023). ECONOMIC SIDE EFFECTS OF OPEN MARKET SYSTEM TO DEVELOPING COUNTRIES. Solution of social problems in management and economy, 2(8), 9-11.
7. Bakhtiyorov, A. (2022). Trade And Economic Performance Through Digital Economy. Gospodarka i Innowacje., 24, 720-726.
