Importance of SMEs in Bahrain for Innovation and Entrepreneurship | Desklib

This article discusses the importance of small and medium-sized enterprises (SMEs) in Bahrain for innovation and entrepreneurship. It explains what SMEs are and how they contribute to business growth and success. The article also highlights the role of SMEs in increasing employment rates and generating revenue. The content is relevant for courses related to business, entrepreneurship, and innovation.

INNOVATION AND
ENTREPRENEURSHIP

Table of Contents.
INTRODUCTION...........................................................................................................................3

QUESTION
Interpreting what SME means and concluding its importance in the current scenario of Bahrain
SME refer to set of companies or firms that may work individually to reach desire
outcomes and to earn money, more than their expectations. It can be said that small and medium-
sized enterprises in the world of business are non- subsidiary, as they run their ventures
independently in term of employing fewer candidates who are able to perform together, for
purpose of achieving aim and objectives. In the recent time, small or medium companies play
significant role in the context of business growth and success of corporate world. Each SME may
conduct specific activity, in order to increase profitability and productivity, which is quite
essential for them to do so.
SME's play vital role in the context of current scenario of Bahrain, where Sayed would
have to take on all venture functions himself because of earning money and obtaining a lot of
benefits in the market, via Timah business. As he thought that his wife has no business training
either, so he thinks that they can run venture successfully. In today's era, small & medium-sized
companies earn more than large firms, because it may have power to retain consumers and make
possible changes within current practices quickly.
By opening a small shop in Bahrain, both can earn money and fulfil their needs, because
SME's set up in the new market is quite easy as compare to establishment of big brand or an
organization, as it may require a lot of time, resources and other things. By referring to case
study, Sayed and Timah was getting older, and they want to spend their rest of life in appropriate
manner, which is quite essential for both of them, just because of this reason they both decide to
open an Sme through which earning become much easier. An small or medium-sized company,
whether it is public or private, may contribute to achieve strategic aims. For example, it helps to
generate revenue more than the expectations of stakeholder such as owner and workers, who are
performing and working for a firm. The importance of SME in Bahrain is unpredictable because
it may contribute in varied terms such as to increase the rate of employment, as when Sayed,
Umar or Timah open their new venture in the market, they hire skilled and talented people,
among which each person is able to achieve a lot of advantages in bulk.
According to scenario, Sayed and Timah only had RM4,200 in their bank account, as per
that amount they can only start a new venture at small level, which they will enlarge according to
the success of the same thing. It is fact that SME is easy to manage as it may encompass certain

functions that help to fulfil employees and owners expectations, which is important for
individual to do so in appropriate and successful manner.