Role of Small and Medium Enterprises in Economic Development

This presentation discusses the crucial role played by small and medium enterprises in the economic development of a country. It covers their impact on the economy, the benefits of intrapreneurship, and the differences between public and corporate intrapreneurship. The presentation also includes data on the share of small and medium enterprises in the UK economy and their contribution to GDP.

Entrepreneurial
Ventures

Table of content
 Introduction
 Small and micro business affects economy at various levels
 Share of small and medium enterprises in UK economy
 Appraise the impact of various enterprises on different levels of
economy
 Similarities between small and medium intrapreneurship
 Differences between small and medium intrapreneurship.
 Define the benefits of intrapreneurship and its contribution to
competitive advantage

Introduction
Small and medium enterprises
play a crucial role in the development of
overall economy that is urban and rural
growth. It helps to bring promote
employment and revenue by offering its
services to local peoples and
community with the help of supporting
services

Small and medium
business affects economy
at various levels-
Small and medium enterprises play a crucial role
in contributing in the employment scenario along
with input and output.
 Promotes competitiveness
 Adaptive to rapid changes
 Innovation within industries
 Employment opportunities

Share of small and
medium enterprises in
UK economy
The above data determines the share of small
and medium enterprises in the UK economy.
The graphs determine the levels of industries,
employment and turnover small and medium
enterprises hold in the economy (Chamba
and Chazireni, 2021). There industries
contribute about half of the share of the
economy and contributes a large share in the
economy revenue generation.

Impact of small and medium
enterprises in economy
From the above discussion, it is determined
that small and medium enterprises
contribute a large share in the economic
and social development and contributes a
significant share in the GDP of an economy.
They are more reliable and comprises of
easier formation unlike the larger firm.

Public Intrapreneurship
These are the public sector leaders at
local and national levels which includes
representative of government and
international organisations. They are
responsible to contribute in the
innovations and society welfare in
accordance with the policies,
procedures and government rules and
regulations.

Corporate
Intrapreneurship
These are the intrapreneurship that focus
on optimum utilisation of resources that
are available to an organisation and helps
in generating overall profitability and
productivity of an organisation by
managing different operations and
business activities (Submitter and et.al,
2020).

Similarities between
public and corporate
intrapreneurship
INTRAPRENEURSHIP DESCRIBES PEOPLE
CENTRED APPROACH TO DEVELOP
REVOLUTIONARY INNOVATION WITHIN
PREMISES. THEY ARE CONCERNED
TOWARDS THE FOREFRONT AND
HUMAN OF AN ORGANISATION. THEY
TEND TO DEVELOP, CREATE, DESIGN
AND SCALE UP THEIR IDEAS.
• LEADING ROLES
• INNOVATIONS
• RISK MANAGEMENT
.

Differences
 Freedom: It is the main difference between
them, public intrapreneurship is not that much
flexible and free in their operations and functions
 Risk: Public intrapreneurship, have less risks and
failure associated with their operations and
functions
 Objectives: The aim of public intrapreneurship is
to provide its services for the success and welfare
of the public

Define the benefits of intrapreneurship and its
contribution to competitive advantage
 There is a significant role that intrapreneur plays
in a business to make them achieve a competitive
edge in the marketplace ( Matricano, 2020). They
help to boost economic growth by introducing
innovative technologies, products and services.
The rising competition in the marketplace helps
the organisation to develop their skill and
competencies that help them to attain a
competitive edge in the marketplace

Conclusion
From above report it is concluded that role of
entrepreneurial ventures plays a great role in the
global economy development. It determines the
function of entrepreneur that involves optimised
utilisation of resources and developing and
introducing new technologies that will improved
the overall production of an organisation

References
Woodard, 2021. Waste Management in Small
and Medium Enterprises (SMEs): compliance
with duty of care and implications for the
circular economy. Journal of Cleaner Production,
278, p.123770.
Yang and et.al, 2019. Effect of government
subsidies on renewable energy investments: The
threshold effect. Energy Policy, 132, pp.156-166
Chamba and Chazireni, 2021. Intrapreneurship
as a Strategic Renewal Option for State-Owned
Enterprises: The Case of Parastatals in
Zimbabwe. Journal of Public Administration,
56(4), pp.842-853