Economic Aspects and Significance of SMEs

Abstract

In a world that is marked by a fierce competition, in which the actors that are in play change the rules of the market, forcing enterprises to change the fundamentals of their competivity and their economic performance, holding technological resources has become a major strategic stake for enterprises. SMEs, the backbone of an economy, whether we are referring to the economy of a random state, or the world economy, have to answer these changes and offer competitive goods and services, adjusting the quality of the production factors to these changes. Thus, the competitiveness for SMEs is an essential condition to be able to endure. This paper will adress the evolution and importance of SMEs in the economy.

Keywords: economy, business climate, small enterprises, medium enterprises, competitiveness