Medium Sized Enterprises Small and Term Paper

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Linked Enterprises - This type corresponds to the economic situation of enterprises which form a group through the direct or indirect control of the majority of the capital or voting rights (including through agreements or, in certain cases, through individual shareholders), or through the ability to exercise a dominant influence on an enterprise. Such cases are thus less frequent than and very different from the two preceding type.

Importance of SMEs

Small and Medium-Sized Enterprises have become the lifeblood of today's global economy. Moreover, they are the fastest growing segment of major national economies. Small and medium-scale enterprises have become universally important due to their ability to adjust quickly to the vagaries and vicissitudes of the economy, fluctuations of the markets, and financial crises. They promote diversification of economic activities, support sustainable development and make a significant contribution to exports and trade.

SMEs are major employment generators, surpassing larger firms in net job creation. In the European Union alone, smaller firms provide employment for more than 70 million people, representing two-thirds of all EU employment. There are also an estimated 75 million SME worldwide which represent about 99% of all companies.

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Problems in SMEs

The main constraints faced by SMEs are lack of management and marketing skills. While most owner-managers and start-up entrepreneurs are experts in their product and service, but often lack of wider managerial skills hinder their long-term success. Strategic planning, medium-term vision, marketing, finding customers, patient "not to get rich overnight," management of innovation, commitment to quality and knowledge of quality systems, knowledge of foreign languages, cash-flow management, information technology, just to mention a few, which are all critical elements of management required to meet challenges of the market economy, especially in the international market environment.

SMEs generally do not have the same access to information, experience and technology as larger enterprises, and that this limitation on resources often limits the actions they can take.

Another problem, which SMEs are facing, is the misconception, that today everything is available on the Internet. The ability of small businesses to survive in the globalize market deeply depends on the existence and availability of relevant information they require for their decision-making......

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