Enhancing the Role of SMEs in the Arab World

Enhancing the Role of SMEs in the Arab World—Some Key Considerations

By Vahram Stepanyan, Gohar Abajyan, Anta Ndoye, Marwa Alnasaa

December 13, 2019

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Format: Chicago

Vahram Stepanyan, Gohar Abajyan, Anta Ndoye, and Marwa Alnasaa. Enhancing the Role of SMEs in the Arab World—Some Key Considerations, (USA: International Monetary Fund, 2019) accessed December 21, 2024

Summary

Small and medium-sized enterprises (SMEs) are a cornerstone of Arab economies, accounting for over 90 percent of all businesses and providing a major source of new job creation. Governments across the Arab World recognize the important role that SMEs can play in delivering higher and more inclusive growth. Many have rightly placed SME development at the center of growth and jobs strategies to meet the needs of young populations. Authorities have initiated policy interventions and schemes to support SME development. But progress so far has been patchy, and more comprehensive policy action is needed. Fostering vibrant and competitive SMEs that contribute to employment opportunities and high value-added output requires various stakeholders to deliver on a broad range of factors. Arab governments need a holistic policy approach that addresses the gaps in access to finance, creates an enabling business environment, and upgrades human capital and infrastructure. The approach should also promote an entrepreneurial mindset.

Subject: Business environment, Economic sectors, Financial inclusion, Financial markets, Labor, Public sector, Self-employment, Small and medium enterprises

Keywords: Business environment, Control group SMES, Financial inclusion, Global, PP, Public sector, Self-employment, Small and medium enterprises, SME access, SME activity, SME constraint, SME data availability, SME development, SME needs, SME policy, SME sector, SME support scheme

Publication Details

Pages:

27
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2019/040
Stock No:

PPEA2019040
ISBN:

9781513522760
ISSN:

2663-3493

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