Importance of SMEs and Intrapreneurship in Developing Entrepreneurial Skills

This article discusses the positive impacts of SMEs on economic growth, job opportunities, competing with big companies, becoming part of the global market, boosting exports, and innovation. It also emphasizes the importance of intrapreneurship in developing entrepreneurial skills and how it helps companies to work effectively towards their goals and accelerate change within the workplace.

Slide 1

Slide 2

Slide 3

Slide 4
SMEs provides major support to economy and people living there. Small enterprises contribute
almost 48% of GDP which is helpful in economic growth. With the improvement in SMEs there
is a development of innovation.
Positive impacts of SMEs
economic growth- As we all know that small businesses are the lifeblood that keeps the
economy of the country functioning and develop GDP. The contribution of small businesses and
medium size company is generally gathered under main topics which includes economic growth,
flexibility, adopting new technology, developing innovation and encouraging entrepreneurship
among people.
job opportunities- Among all these features of SMEs the most important one is their
contribution to job creation and providing good employment to people living in the countries.
Small medium businesses are using labor intensive production techniques which support society
as well as economy. SMEs in the UK provides 45.18% of jobs to people in which they have a
share of almost 48.54% in the manufacturing industry. Small businesses are hiring people with

good experience and skills and paying them more than big industries this has attracted people.
Nowadays, many people want to focus on career growth opportunities, so they are applying jobs
in small-medium enterprise.
compete with big companies- nowadays in today business world, small businesses
compete with big companies in terms of quality services, product differentiation and innovation.
SMEs are hiring staff members with good skills and knowledge. They can easily compete with
big enterprise on the quality of their employees as small businesses is having more skilled
workforce nowadays. By offering a living benefits and more salary, SMEs are attracting
employees.
Become part of the global market- SMEs helps economy to become part of the global
market, as they will directly deal with their clients and work with suppliers to meet their needs
more accurately and offer a more individualized service to customers. Becoming a part of the
global market will help SMEs to establish some strong professional bond with their users.
boost exports - with the development of SMEs there is a development in exports of the
country. Export shares of SMEs in US is almost 36% which is quite high as compared to others.
In England, it is 27% and so on. This is how small businesses is very helpful in boosting exports.
Innovation- not only economic growth and competing with big enterprise, SMEs helps
people to know about how innovation works in the world and provide them details about new
technology used by small businesses. New start-up companies are using effective strategies and
technology such as online delivery, paying bills online and create two-thirds of new jobs which
helps to improve gross domestic product.
Slide 5

Slide 6

Slide 7
Depend on innovation- it is said that innovating remains the effective technique for an
SME to survive in the competitive world. If small company fails to adapt innovation, then they
cannot survive in this world of business. So, it is essential for small businesses to keep them up
to date in the context of innovation and technology.
Need a supportive environment- in order to survive in the competitive world, SMEs
requires a supportive and encouraging environment then only they can achieve their desired
goals. Due to political instability in the world and restrictions SMEs has to face some challenges
related to development and creation.

Slide 8
As we all know that intrapreneurship enables company to work effectively towards their
goals and accelerate change within workplace. Intrapreneur helps staff members to grow while
keeping them motivated towards work. With the development of intrapreneurship there is a
development of employees too. It provides a platform to motivate staff members in work that is
more challenging because of changing trends. Intrapreneurs are highly engaged in their business
work which inspire others to work effectively and engage in task that is meaningful.

Slide 9
• In today's business context where the source of power is skills and knowledge, engaging
employees is vital for success of the organization. The major idea behind intrapreneurship
development is to include the behaviours and characteristics of entrepreneurs inside the firm.
It is very essential in economic development and organizational management. In order to
compete successfully in the changing business environment, companies need to nurture
entrepreneurship throughout their business operations. In both public and corporate, it
provides a positive environment where employees can work peacefully by sharing skills and
knowledge and motivate each other. It helps staff members of the company to grow their
transferable skills while keeping them motivated and engaged.
• By having intrapreneurship development public sectors like NHS which is one of largest and
popular healthcare organization, helps shape career direction. Intrapreneurship engage
employees to work effectively by focusing on innovation. It has motivated to help the public
sector grow and support people by creating new opportunities. In order to meet changing

customer behaviours and their expectations, corporate organization intrapreneurs offer a
strategic option to refine its business concept. For achieving competitive advantages and
enhancing its competitive position in the market Unilever plc sustain innovation over time.
They encourage employees of the company to act as entrepreneurs for achieving success. The
major purpose of intrapreneurship is to increase sales and productivity in both corporate and
public organization.
• While on the other side, HSBC achieve competitive advantage by adopting strategy like
customer orientation and technology adaptation. Intrapreneur in HSBC innovates new
business related ideas and develops new knowledge for employees in the existing
environment.
Slide 10
creation of value-

As we all know that both public and corporate Intrapreneurs work effectively for the betterment
of people. Adding value to the services and goods is the major purpose of both of them. They come up
with a different proposal in order to create values in the organization. Both of them are driven by leaders
and champion who works effectively in a team.
Adopting Innovation
Both of the companies Intrapreneurs wants to drive innovation and new ideas for the betterment
of people by suing skills like managerial skills, leadership, determination and business focus skills. Both
of the Intrapreneruship requires risk management strategies to develop creative environment for
leveraging resources which can helps them to achieve success.
Slide 11
Slide 12

Doern, R., Williams, N. and Vorley, T., 2019. Special issue on entrepreneurship and crises: business as
usual? An introduction and review of the literature. Entrepreneurship & Regional Development. 31(5-6).
pp.400-412.
Baker, T. and Welter, F., 2018. Contextual entrepreneurship: An interdisciplinary
perspective. Foundations and Trends® in Entrepreneurship. 14(4). pp.357-426.