The Impact of SMEs and Intrapreneurship on Economic Development

This report provides an overview of Small and Medium-sized Enterprises (SMEs) and intrapreneurship, highlighting their significant roles in economic development. It defines SMEs, differentiating them by employee count and financial assets, and explores how micro, small, and medium enterprises contribute to employment and financial independence through innovation. The report discusses the advantages and disadvantages of small business ownership, emphasizing the importance of creative ideas and modern technology for economic growth. Furthermore, it examines corporate and public intrapreneurship, outlining their similarities and differences in stimulating the workforce and achieving organizational goals, with public intrapreneurship focusing on social influence and corporate intrapreneurship targeting profit and service delivery. The conclusion underscores SMEs' role in managing the market economy and providing employment, supported by references to relevant research.

Small and Medium
sized Enterprises

Introduction
 SMEs are stands for Small and medium sized enterprises.
 They are non subsidiary and independent enterprises and also very
small group which can hire only few numbers of employees.
 Financial assets are also used to define SMEs, The number of
employees vary from country to country.
 In the United Kingdom the most upper limit to recruits the employs is
only 250 workers.

How micro and small enterprises influence the economy at
different levels
 The small, medium and micro corporate sector with large
enterprises plays a very major role in the economy of the
country.
 They provide employment to the employees who can live
into the nation. This brings financial independent through
creating innovative ideas.

The different types of enterprises are as follows:
 Small Business
 Micro Business
 Medium Business

Advantages of Small Business Ownership
 In the small business, The person have their own company
or business owner.
 The person who have willing to take their own decision
that are beneficial for own business.
 . Small business can changes the lifestyle of a person, If the
owner of the company wants to spend the quality time with
their family, So they have the freedom to do it.
 The person is might be decided to run their business at
home.

Disadvantages of Small Business Ownership:
 The major disadvantages of the small business are financial risk, Stress, Time commitment, Undesirable
duties etc.
 The owner of the company don't known about the output of the business it may be in loss or profit.

Conti…..
 The survey says that, Micro business can enhance their benefaction about 96% in contrast
with other businesses and also assessed that small business are provide 15% of
employment into the nation.
 The small and micro businesses have aim to use creative and innovative ideas and follow
modern technology that help in growth of an economy, they are also known as growth and
development of a country.

Corporate and public Intraprenureship
 Intraprenureship can be placed in any other business enterprises, it is more simple to the
entrepreneurship as it provides help from the other enterprises.
 The advantages and hurdle involves both in it. At any point of business it attracts the creative
person.

Public Intraprenureship
 Public intraprenureship belong to public sector and may be national representatives which works in
favour of enhancing public welfare by regulating policies which assist the strength of social
entrepreneurship.
 They are the leaders in the public sectors, who can manage the social economical aspects.
 The recruiting of the people on partial bases, Leaders can admit family members also like spouse,
children's above 18 years of age.

Corporate Intraprenureship
 The main aim of corporate intraprenureship is to increases the productivity by
exaggerating the economic development which exploit the resources as technology,
equipment, raw material and along with natural resources.
 Corporate Intrapreneurs are acting like a entrepreneur in the company.
 The corporate relates to the organisational bases and it is very differ from the public
intrapreneurs.

Similarities of public and corporate intraprenureship
 The both intraprenureship have willing to stimulates the work force in respects to
attains their goal of the organisation.
 The goal of public and corporate intraprenureship have clear insight to their business
operations

Dissimilarities of public and corporate intraprenureship:
 Public intraprenureship deals with suitable knowledge creating positive and social
influence on community.
 While limiting the harmful issue with the help of true information and
knowledge.
 Whereas the analysis of winning can be calculated by the profit in their business.
 The only target is to provides the goods and services to their customers.