Importance of SMEs and Intrapreneurship in Developing Entrepreneurial Skills

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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