Work detail

The Role of Small and Medium - sized Enterprises in Economy

Author: Mgr. Ondřej Sláma
Year: 2003 - summer
Leaders: doc. Ing. Pavel Mertlík CSc.
Consultants:
Work type: Economic Policy
Masters
Language: Czech
Pages: 81
Awards and prizes:
Link:
Abstract: The impact of globalisation on industrial structure has been huge. However, the global competitive scenario is not dominated by large firms, which defeat their smaller counterparts. Conversely, the sector of SMEs prospers and its dynamics forces economists and politicians to review traditional approaches to industrial policy. SMEs play important role in economy, because they considerably participate in generating economic growth and employment, create healthy entrepreneurial environment and increase dynamics of the market. Besides wealth and jobs, SMEs bring further benefits to society by providing a diversity. SMEs are great at inovating and flexibility. They overcome their weaknesses by cooperation with other firms in clusters and networks and thereby they generate competitiveness of the economy as a whole. SMEs play crucial role in industrialisation and transformation of economies. SMEs are source of entrepreneurial acitvities. Entrepreneurship for individuals is a way to unlock personal potential. Entrepreneurship matters to society at large, this is why we need to ensure that the motivated and skilled entrepreneurs are given the opportunity to start and grow their ventures in a supportive business climate.

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