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The Importance Of SME

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The micro small medium enterprises or businesses are the cornerstone of every country’s economy all around the world as they contribute an important percentage to the GDP of each country. Also they beat unemployment by establishing new jobs and maintain the current job sheets by boosting and flourishing in the competitive economical environment. But what does SME stand for? ‘SME’ is commonly used in the European Union, the world trade organization (WTO), the United Nations, the World Bank and other international organizations around the world. The exact determination/ definition of SMEs varies from country to country. In the European Union there are two factors that determine a company as a ‘SME’. The number of employees …show more content…

As it is stated in Microsoft official webpage, it has a long history of working with small medium enterprises by improving the products and the services , making them cost less and help these businesses meet their organizational goals. According to a survey that was done after the request of Microsoft Office, which is a brand that is trustful and indispensable for the accomplishment of their goals. Bill Gates the founder and former chairman of Microsoft has recognized the important part that SME s have in the economy and the evenly important part that technology has in the subsistence of entrepreneurship. The importance of the economy of the SME s sector (148 million of SME s function worldwide) is colossal and countries which fail to hearten SME s nowadays will have a serious impact in their economies the following years. ACORDING…….. business analytics , which is the capability to predict and analyze behavior , leads to shifting in business , by making organizations from reactive to proactive. Analytics also can monitor customer needs and then show the direction for the product and services goals of the entrepreneurship. Another proof that analytics boost the entrepreneurships is that 68 per cent of the answers in a survey done by Star Center, stated that business analytics is the main tool of innovation for

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