31. Financing SMEs and Entrepreneurs
- Publication Date:
- 11-2006
- Content Type:
- Working Paper
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- Small and medium-sized enterprises (SMEs) are the backbone of all economies and are a key source of economic growth, dynamism and flexibility in advanced industrialised countries, as well as in emerging and developing economies. SMEs constitute the dominant form of business organisation, accounting for over 95% and up to 99% of enterprises depending on the country. They are responsible for between 60-70% net job creation in OECD countries. Small businesses are particularly important for bringing innovative products or techniques to the market.
- Topic:
- Development, Economics, Industrial Policy, and Markets