The very topic raises an ever present crucial question as to the role and significance of small and medium-sized enterprises (SMEs) and related structures in any given economic setting; not the least in the context of economic development in a sector-related view. Implicit complexities obviously do call for an SME-specific policy formulation recognizing that a small firm is not to be viewed as simply a miniaturized blueprint of a large one, but rather be considered as quite different a creature of its own.

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There is growing consensus in theory and practice that a thriving private sector is crucial for poverty reduction and that an entrepreneurship business-friendly environment must be in place to unleash private sector dynamism. The 2030 Agenda calls explicitly for member states to implement policies conducive to entrepreneurship, creativity, and innovation.Entrepreneurship includes MSMEs. MSMEs are crucial for economic development, as they are key drivers of innovation in many economic sectors and are exhibiting high degrees of flexibility and capability to react to customers’ needs, and less bureaucratic organizational structures.

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The Department of Economic and Social Affairs/Division for Sustainable Development Goals (DESA/DSDG) at the United Nations is engaged in a project to support 9 pilot countries(Brazil, Peru, Cambodia, Fiji, Laos, Sri Lanka, Kenya, the Philippines, and Tanzania) to enhance the role of micro-, small and medium enterprises (MSMEs) to achieve the sustainable development goals (SDGs).

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The role played by SMEs in our economies and societies is colossal. At a time of slow productivity growth and increasing or persistently high inequalities, SMEs are key to strengthening productivity, delivering more inclusive growth and adapting to the major transformations of our time, including demographic change, digitalisation and the new industrial revolution, the changing nature of work and the transition to a low-carbon economy.

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Entrepreneurship has become a crucial and vital component in the growth of national economies, with micro and small enterprises (SMEs) serving as the biggest employment creators in both emerging and developed economies throughout the world. SMEs drive the economy and are essential for enhancing innovation, competitiveness, and entrepreneurship. In the Middle East and North Africa (MENA), micro, small, and medium enterprises (MSMEs) account for the dominant share of private sector employment, particularly in countries like Egypt that have a large informal sector. In Egypt, MSMEs comprise 75% of all private sector employment and 80% of the national GDP.

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