In India, we add the word “micro" to the classification: MSMEs make up a substantial segment (over 95%) of the nearly 60 million enterprises in India. Newly federal Germany, after World War II, provided a dramatic fillip to its Mittelstand through its provinces (landes). Nearly 25 million SMEs form the backbone of the US economy, with nearly two-thirds contribution to net new jobs in recent decades. In addition to the number of employees, other factors, such as whether they are manufacturing or services enterprises, which subcategory they come from, what their assets are, etc., are also often used. Beyond this, the best contribution that policy can make is to ease access to finance and develop the benefits of clustering.

Source: Mint July 08, 2019 09:22 UTC