Impact Of Small And Medium Sized Businesses On Jobs And...

Running head: SMEs 1 The Impact of Small and Medium Sized Businesses on Jobs and the Economy Name: Institution: Outline 1. Introduction Introduces the discussion and gives a thesis statement 2. Discussion Explores the contribution of SMEs to the economy, gives detailed statistics from various academic sources. It also offers an explanation of the impact of the 2008 financial crisis to the SMEs contribution to the economy in regards to employment 3. Conclusion Wraps up the discussion The Impact of Small and Medium Sized Businesses on Jobs and the Economy Introduction The term â€Å"SME† is commonly used to refer to Small and Medium-sized Enterprises. The term covers a variety of definitions as well as measures. However, in most of the various definitions of what is an SME, employment is the most widely used criterion for categorizing the size of the firm. Moreover, SMEs are often defined as businesses with fewer than 500 employees. However, a number of countries, including some in the European Union use a lower cutoff of 250 employees. SMEs are important in the economy because they have some unique benefits to the economy chief among these being employment and job creation among others. The following discussion explores the impact of SME to the economy, especially in regards to employment and the creation of jobs among others. Discussion It is already apparent that SMEs are very important in an economy. SMEs make up over 95% of enterprises andShow MoreRelatedUsing Information Technology Into A Small And Medium Sized Enterprises2010 Words   |  9 PagesSmall and medium-sized enterprises account for the majority if the share in the market and most of the employment in certain sectors of the economy. They have unique characteristics that both work to their advantage and prove a burden. 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