Abstract:
All over the world, Small and Medium Enterprises (SMEs) are the economic and employment backbone of thriving and developing economies. They are widely considered as the primary sources of entrepreneurship and crucibles of innovation. A significant contribution to the country's economy comes from value-addition, an activity SMEs excel in. Apart from agriculture, almost the entire employment generation is in the Micro, Small and Medium Enterprise (MSME) sector, with 40 per cent being accounted for by SMEs. Therefore, SMEs should be contemplated as a measure of a country's growth potential, and their real impact must be determined not just from their turnover but from the people touched by them.
