Small and medium-sized enterprises (SMEs) in the Middle East and North Africa (MENA) region can access several financing opportunities to help them overcome the challenges they face when it comes to accessing capital. These opportunities include traditional banks and financial institutions, alternative lenders, government-backed programs and initiatives, and international development organizations and donor agencies. Traditional banks and financial institutions offer a range of financing products, such as loans, lines of credit, and leasing options, that can help SMEs access the…

Small businesses, or SMEs, form the backbone of most economies. They offer a variety of goods and services to local customers, boost employment opportunities in the area, and act as important conduits for innovation. However, these small businesses often struggle to keep up with the latest developments in technology, which can be a major obstacle to their growth. Introduction to Small Business Technology Technology is the driving force behind many industries today, and small businesses are no exception. Technology can…

Small and medium-sized enterprises (SMEs) are businesses that are typically smaller in scale than large enterprises. These businesses are typically defined as having fewer than 500 employees and a relatively low annual revenue. In contrast, large enterprises are typically defined as having more than 500 employees and a high annual revenue. SMEs are an important part of the global economy, as they make up the majority of businesses around the world. In fact, according to the World Bank, SMEs account…

It is estimated that about 80% of all enterprises globally, roughly 280 to 340 million, fall under the informal SME category. The statement raises one common question, what is an informal SME? The definition of "informality" may vary based on different legislative frameworks, but as a whole, it can be understood in three different ways. One school of thought argues that informal SMEs result from formal organizations incapable of producing sufficient jobs to meet the workforce demands. This understanding criticizes…

SMEs face a shortfall of over $2 trillion in financing gap, derailing their prospects to move past stagnation and into the growth phase. This shortfall impacts one-half to two-thirds of the SMEs globally, and legislative efforts worldwide often overlook the contribution of SMEs towards GDP and job growth to the economy. Despite the financing troubles, SMEs' contribution to employment has increased in the last few years, employing roughly 50% of the working population in high-income countries and significantly higher in…

Over the past few years, job creation and economic growth through incentivizing private sector development have become primary objectives for legislators worldwide. This concise global effort to generate employment and job opportunities is not a recent trend. Since the 2008 financial crisis, policymakers have placed work and job creation as critical platforms in their political endeavors, especially in many developing and developed nations. However, many legislative efforts have not considered SMEs' employment generation potential. This devastating global trend has seen…

With over 90% of the businesses in the world falling under the “small and medium enterprises (SME),” these businesses play a significant role in most economies. SMEs’ contribution to the economy is vital for many emerging markets, with over 50% employment generation and 40% of the GDP in these markets. As per research by the World Bank, it is estimated that SMEs are in a place to generate roughly 600 million jobs by 2030, making it a vital sector with…