Innovative strategies for enhancing SME competitiveness in emerging economies

Abstract

The chapter titled highlights key approaches to enhance the competitiveness of small and medium-sized enterprises (SMEs) in developing countries. SMEs are key economic actors contributing significantly to employment and GDP growth. However, they often need help with unique challenges, including limited access to resources, technology and markets, that can hinder their growth potential. The chapter explores innovative strategies tailored to these contexts and highlights the need for an adaptable framework that considers local conditions and global market trends. It highlights the role of technology, particularly the adoption of digital tools and platforms, in improving operational efficiency, market reach and competitiveness. We also discuss the importance of entrepreneurial ecosystems that foster SMEs' collaboration, knowledge sharing, and skills development. The chapter also covers policy interventions and support mechanisms essential for enabling environments.

Keywords: Business & Management, Business Science Reference, Small & Medium Enterprises, Small, Medium Enterprises