According to the Robert Litan of the Kauffmann Foundation, almost all new jobs in the United States were created by businesses that were less than five years old. In the Middle East and North Africa (MENA), the impact of a small and medium sized business (SME) can be even more profound as on average they contribute around 28% of GDP AND create 71% of the jobs in the region. In fact, they are considered to the most important source of social and economic stability and are the single most important driver in economic development across the region.However, according to Abrajj, the GDP contribution is seriously under leveraged due to a number of factors which includes:
- lack of managerial best practice
- lack of support for entrepreneurs
Whilst many might say that this is a common problem world-wide, it is in developing economies where the strain is felt the most and the need becomes critical. For without the ability to significantly influence the local social and economic structures, a downward spiral can occur and the economic need becomes greater.
Mowgli came into existence simply because of a recognition that experienced mentors, with a high degree of business experience and knowledge, can help to address these two crucial issues at a very fundamental level; helping to raise the bar for SME’s who then contribute more to GDP and to the creation of jobs with MENA.
Subsistence farming and fishing are the primary economic activities. South Africa
Yes it is very important in the MENA region.
It is a source of creating new jobs….. as 95% of the total companies established are considered SMEs
Some of the big companies were considered SMEs at the beginning . By good managerial skills and good financing they managed to develop and grow to be considered as a large Cap.
Financial problems facing SMEs have to be solved …. in order to help the SMEs get the finance they need.