SMALL AND MEDIUM-SIZE ENTERPRISES IN PAKISTAN: DEFINITION AND CRITICAL ISSUES

Madiha Shafique Dar, Shakoor Ahmed, Abdul Raziq

Abstract


SMEs play a vital role in the development of an economy. The
contribution of Pakistani SMEs is less as compared to other countries, yet their significance cannot be denied. The SME sector is facing multifarious problems that made it difficult to contribute to the nation‘s GDP. This paper attempts to focus on the major constraints faced by the SMEs. The basic problem starts with no defined and standardized size for SMEs. The paper examines the definitions of SMEs given by different government organizations in Pakistan with some possible suggestion for one standard SME definition (in terms of size). This paper also highlights the critical issues of Pakistani SMEs such as financial, human, physical and technological. The paper concludes with some brief prospects by recommending a few implications for policy.

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