This In Pakistan, cottage or household industries hold an important position in rural set-up. Most villages are self-sufficient in the basic necessities of live . They have their own carpenters, cobblers, potters, craftsmen and cotton weavers. Many families depend on cottage industries for income. Cottage industries have also gained immense importance in cities and towns. There is a great demand for hand-woven s, embroidered work, brassware, rugs and traditional bangles. These are also considered important export items and are in good demand in international markets.
Small and Medium Enterprises are defined by the European Commission as having less than 250 employees, independent and with an annual turnover of no more than €50 million or annual balance sheet of €43 million. SMEs have been identified as a problem area in the field of environmental regulation. Whilst the individual environmental impacts of SMEs are generally small in comparison to those of large corporations, the cumulative environmental impacts of the sector are large. They also pose particular problems for environmental governance, showing little reception to new environment policy instruments NEPIs such as market-based instruments, voluntary agreements and informational devices.
Mittelstand commonly refers to small and medium-sized enterprises in German-speaking countries, especially in Germany, Austria and Switzerland, however Britain also has its own Brittelstand. The term Mittelstand proves difficult to translate and causes a lot of confusion. The majority of definitions define the Mittelstand as a statistical category and most commonly suggest that Mittelstand firms are small and medium-sized enterprises with annual revenues up to 50 million Euro and a maximum of 499 employees. The term is not officially defined or self-explanatory hence, in English linguistic terms SMEs are not necessarily equivalent to the Mittelstand. In fact, even larger, and often family-owned, firms claim to be part of the Mittelstand, such as Robert Bosch based on the Mittelstands positive connotations. The term Mittelstand mainly applies to mid-sized firms as opposed to larger listed companies and most importantly Mittelstand companies are characterized by a common set of values and management practices. Ludwig Erhard, the Economics Minister who crafted the post-war West Germanys economic miracle German: Wirtschaftswunder warned against reducing the Mittelstand to a mere quantitative definition, but instead emphasized more qualitative characteristics which embody the German Mittelstand, as it is ".much more of an ethos and a fundamental disposition of how one acts and behaves in society. What does define the Mittelstand, is a much broader set of values and more elastic definitions. Business historians define various traits associated with Mittelstand firms, such as: Family ownership or family-like corporate culture Lean hierarchies Social responsibility Generational continuity Investment into the workforce Independence Innovativeness Flexibility Long-term focus Nimbleness Customer focus Strong regional ties Emotional attachment A publication on Mittelstand firms by Venohr, Fear and Witt 2015 highlights that: "These companies are predominantly run by classic" owner-entrepreneurial families” Unternehmerfamilien seeking to sustain the business by instituting a core ideology of longevity, conservative long-term financing, and operating practices." The Mittelstand acts as a counterpoint to a singular focus on shareholder value and dispersed investor-orientated shareholding. Another and more recent publication by David Audretsch, Erik Lehmann and Julian Schenkenhofer underlines that "here are between six and 14 characteristics distinguishing a Mittelstand company, ranging from small size to governance family ownership, human resource relations, linkages to the local community, finance and long-term orientation, among other things. Firm size, i.e. being classified as an SME, is just one among multiple key salient characteristics"
Small and medium-sized enterprises or small and medium-sized businesses are businesses whose personnel numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank, the European Union, the United Nations and the World Trade Organization. SMEs outnumber large companies by a wide margin and also employ many more people. For example, Australian SMEs make up 98% of all Australian businesses, produce one-third of the total GDP and employ 4.7 million people. In Chile, in the commercial year 2014, 98.5% of the firms were classified as SMEs. In Tunisia, the self-employed workers alone account for about 28% of the total non-farm employment and firms with fewer than 100 employees account for about 62% of total employment. In developing countries, smaller micro and informal firms, have a larger share than in developed countries. SMEs are also said to be responsible for driving innovation and competition in many economic sectors. Although they create more jobs, there is also a majority of job destruction/contraction.
Small and medium enterprises in Mexico, generally called PyMEs, are an important segment of the Mexican economy. They are classified in two types of small and medium enterprises: family businesses and non-family businesses. The Mexican Government has supported PyMEs since 2004. The Mexican Chamber of Economy with the help of the Mexican government creates different types of programs for PyMEs that need to improve their participation in the national market and also for the international market. The PyMEs size is classified by the number of employees they have. The main sectors are manufacturing, commerce and service.
Small and Medium Enterprises in Afghanistan employ 10 to 500 employees, have sales up to US Small and Medium Enterprises in Afghanistan employ 10 to 500 employees, have sales up to US$1 million and paid-in capital of up to US$1 million. Lenders are banks, financing companies, some MFIs, local money exchange service providers Hawala dealers, credit unions and societies. Most of these loans are disbursed against collateral of title deeds, land deeds, property and automobile deeds. Some small loans are secured by neighbors, personal guarantees and character. million and paid-in capital of up to US Small and Medium Enterprises in Afghanistan employ 10 to 500 employees, have sales up to US$1 million and paid-in capital of up to US$1 million. Lenders are banks, financing companies, some MFIs, local money exchange service providers Hawala dealers, credit unions and societies. Most of these loans are disbursed against collateral of title deeds, land deeds, property and automobile deeds. Some small loans are secured by neighbors, personal guarantees and character. million. Lenders are banks, financing companies, some MFIs, local money exchange service providers, credit unions and societies. Most of these loans are disbursed against collateral of title deeds, land deeds, property and automobile deeds. Some small loans are secured by neighbors, personal guarantees and character. The SME loans that are disbursed by these lenders range from US$2.000-250.000. The majority of SMEs operate in cities such as Kabul, Mazar-e-Sharif, Herat, Kandahar, Ghazni, Jalalabad, Kunduz, Faizabad, Maimana, JawzJan and Taloqan. Interest rates are marked from 12% up to 24% depending on mutual deals, loan amounts and credit history. Most formal lenders charge 0.5% to 2.0% of the loan amount as an up-front processing fee.
Small- and Medium-sized Enterprises Development Agency of Azerbaijan was established by the Decree of the president of Azerbaijan dated December 28, 2017. The Agency is a legal entity that supports the development of small and medium-sized enterprises in the country, provides a range of services to SME subjects; coordinates and regulates the services of state bodies in this field and operates under the authority of the Ministry of Economy.
Small and medium-sized enterprises are called as KOS or KOM in Azerbaijan. SMEs have a leading position in the provision of economic growth and employment in Azerbaijan.
SME finance is the funding of small and medium-sized enterprises, and represents a major function of the general business finance market – in which capital for different types of firms are supplied, acquired, and costed or priced. Capital is supplied through the business finance market in the form of bank loans and overdrafts; leasing and hire-purchase arrangements; equity/corporate bond issues; venture capital or private equity; asset-based finance such as factoring and invoice discounting, and government funding in the form of grants or loans.
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