Impact of Entrepreneurship on Small and Medium-Sized Enterprises

ISSUES WITH SMALL BUSINESSES
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Table of Contents
Introduction......................................................................................................................................3
Literature review..............................................................................................................................3
Conclusion.......................................................................................................................................7
Reference.........................................................................................................................................9
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Introduction
The importance of the growth of small and medium-sized enterprises to the development of a
country is a significant research area for the researchers for a long period of time. The growth
and the development of small and medium-sized enterprises require unique abilities and skills
that are needed to run the enterprise smoothly in their day to day business activities. According
to Goss (2005), the growth of small and medium-sized enterprises has a significant influence on
the economic development of a country by generating profit to the owners, increasing GDP
percentage and improving the way of living by reducing the rate of unemployment in the
country. In order to survive in the market and to develop the growth of small and medium scale
enterprises, entrepreneurship skills are the most important area to focus which provide benefits
for the startups throughout the life cycle of the enterprise. The current study is aiming at the
logical understanding of the importance of those unique skills and abilities of an entrepreneur on
small and medium-sized enterprises in the context of prevailing conditions in both in UK and a
global context. The essentiality of the study is focused on the entrepreneurial skills and how it
influences small and medium scale enterprises that can contribute to the economic development
of a country.
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