Assignment No. 01 MGT601 SME Management Solution Ideas Fall 2014

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MGT601 SME Management Assignment No. 01 Solution & Discussion Due Date: December 03, 2014


Small and medium enterprise is a term refers to any investment that entrepreneurs do invest in
establishing a venture. The choice of these ventures most of the time depends on the capability
of an entrepreneur in terms of art, craft, skill or talent and that is the core reason for its
existence.
Such initiatives are usually taken by lower and lower-middle classes to take a chance to get the
economic and financial gain, small businesses become a cause for economic emancipation of
not only the businessman but of many who work for him. Other returns acquired through such
ventures have even deeper effect, it may include the up level of productivity at vendor level,
generate healthy competition, enhance craftsmanship, and the ability to drive innovation.
Large economies have merged the SME’s into a greater part of their GDP, like USA has 39 per
cent of its share coming from SME sector. Likewise China is attaining almost 60 per cent from
SME. Even small countries like Bangladesh’s SME sector have a contribution of more than 25%
to its total GDP. Being the backbone of economic development have always been the core
agenda of government’s economic policy initiatives.
In spite of the fact that SME create most of the jobs as compared to large firms, the government
had paid less attention as a result this sector is at par. The consequences are huge un
employment, extincting financial resources, deteriorating economic & social life and at the end
extreme poverty.
In the light of above scenario and being a student of SME Management, what would you
suggest (workable steps) to government for uplifting the SME sector? Enlist any five
established institutes that extend facilitation to entrepreneurs.
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