This paper investigates the economic rationale for intervention in support of small and medium scale enterprises, on both theoretical and empirical grounds. It argues that the justification for SME interventions lies in market and institutional failures that bias the size distribution of firms, rather than on any inherent economic benefits provided by small firms. The role of the state is mainly to provide an enabling business environment that opens access to markets and reduces policy-induced biases against small firms. Governments can accelerate the development of markets for financial and non-financial services suited to SMEs by promoting innovation in products and delivery mechanisms, and by building institutional capacity. Improving the development impact of SME strategies will require much more attention to the monitoring and evaluation of intervention outcomes.

Business sustainability is becoming increasingly difficult amongst the demands of today’s markets. By implementing new and dynamic practices, organizations can optimize their day-to-day operations and improve competitive advantage. Optimal Management Strategies in Small and Medium Enterprises is a key source on the latest innovations in enhancing all main management functions, such as working capital and marketing, and examines how to implement sustainable business management practices. Featuring extensive coverage across a range of relevant perspectives and topics, such as human resources development, market orientation, and knowledge management, this book is ideally designed for business managers, professionals, graduate students, and researchers working in the field of smaller-scale business development initiatives.

It is no secret that Lean Six Sigma (LSS) is not as popular with small and medium-sized enterprises (SMEs) as it is with larger ones. However, many SMEs are suppliers to larger entities who are pushing for superior quality and world-class process efficiencies from suppliers. Lean Six Sigma for Small and Medium Sized Enterprises: A Practical Guide provides a roadmap for the successful implementation and deployment of LSS in SMEs. It includes five real-world case studies that demonstrate how LSS tools have been successfully integrated into LSS methodology. Simplifying the terminology and methodology of LSS, this book makes the implementation process accessible. Supplies a general introduction to continuous improvement initiatives in SMEs Identifies the key phases in the introduction and development of LSS initiatives within an SME Details the most powerful LSS tools and techniques that can be used in an SME environment Provides tips on how to make the project selection process more successful This book covers the fundamental challenges and common pitfalls that can be avoided with successful introduction and deployment of LSS in the context of SMEs. Systematically guiding you through the application of the Six Sigma methodology for problem solving, the book devotes separate chapters to the most appropriate tools and techniques that can be useful in each stage of the methodology. Keeping the required math and statistics to a minimum, this practical guide will help you to deploy LSS as your prime methodology for achieving and sustaining world-class efficiency and effectiveness of critical business processes.

Running a small business provides opportunity for greater success, increased growth, and potentially the chance to move to the global business arena, yet also much more risk. Small businesses not only have less employment, but also less annual revenue than a regular-sized business. With the growth of large corporations and chain businesses, it has become harder to maintain the survival of a small business. The COVID-19 pandemic has also brought more pressure onto the already unsteady survival of small businesses, due to forced closures, decreased agility, fewer technological innovations, and smaller customer bases. The Research Anthology on Small Business Strategies for Success and Survival offers current strategies for small businesses that can be utilized in order to maintain equal footing during challenging times. With the proper strategies available to small business owners, small businesses could not only survive, but also excel despite the environment that surrounds them. Covering topics including decision management, new supportive technologies, sustainable development, and micro-financing, this text is ideal for small business owners, entrepreneurs, startup companies, family-owned and operated businesses, restaurateurs, local retailers, managers, executives, academicians, researchers, and students.

Research shows a majority of small businesses fail in their early years due to poor financial management, turning the dreams of many business owner and novice entrepreneur into nightmares. This book serves as a guide to prevent small business owners and novice entrepreneurs from experiencing financial disasters.

Entrepreneurship is very important for both entrepreneurs and economic development. It helps boost innovation and competitiveness in every country and facilitates the creation of new jobs and new opportunities, especially for family businesses and small and medium enterprises (SMEs). Both entrepreneurship and innovation constitute a subject that is both topical and timeless, since institutions and the various institutional processes have always affected a country’s sustainability. Entrepreneurial Development and Innovation in Family Businesses and SMEs is an essential scholarly publication that contributes to the understanding, improving and strengthening of entrepreneurial development, and innovation’s role in family businesses and SMEs by providing both theoretical and applied knowledge in order to find how and why entrepreneurship and innovation can produce inefficient and dysfunctional outcomes. Featuring a wide range of topics such as women entrepreneurship, internationalization, and organizational learning, this book is ideal for researchers, policymakers, entrepreneurs, executives, managers, academicians, and students.