Sme Market Orientation

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A Market−Oriented Strategy for Small and Medium Scale Enterpri

A Market−Oriented Strategy for Small and Medium Scale Enterprises

A Market−Oriented Strategy for Small and Medium Scale Enterprises Discussion Paper Number 40 Kristin Hallberg IFC INTERNATIONAL FINANCE CORPORATIONbreak

Copyright © 2000 The World Bank and International Finance Corporation 1818 H Street, N.W. Washington, D.C. 20433, U.S.A. All rights reserved Manufactured in the United States of America First printing April 2000 The International Finance Corporation (IFC), an affiliate to the World Bank, promotes the economic development of its member countries through investment in the private sector. It is the world's largest multilateral organization providing financial assistance directly in the form of loan and equity to private enterprises in developing countries. To present the results of research with the least possible delay, the typescript of this paper has not been prepared in accordance with the procedures appropriate to formal printed texts, and the IFC and the World Bank accept no responsibility for errors. The findings, interpretations, and conclusions expressed in this paper are entirely those of the author(s) and should not be attributed in any manner to the IFC or the World Bank or to members of their Board of Executive Directors or the countries they represent. The World Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. Some sources cited in this paper may be informal documents that are not readily available. The material in this publication is copyrighted. The World Bank encourages dissemination of its work and will normally grant permission promptly. Permission to photocopy items for internal or personal use, for the internal or personal use of specific clients, or for educational classroom use is granted by the World Bank, provided that the appropriate fee is paid directly to Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, U.S.A., telephone 978−750−8400, fax 978−750−4470. Please contact the Copyright Clearance Center before photocopying items.

A Market−Oriented Strategy for Small and Medium Scale Enterprises

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A Market−Oriented Strategy for Small and Medium Scale Enterprises For permission to reprint individual articles or chapters, please fax your request with complete information to the Republication Department, Copyright Clearance Center, fax 978−750−4470. All other queries on rights and licenses should be addressed to the World Bank at the address above or faxed to 202−522−2422. ISSN (IFC Discussion Papers): 1012−8069 ISBN 0−8213−4727−6 Kristin Hallberg is principal private sector development specialist in the Small Enterprise Development Unit at the World Bank. Library of Congress Cataloging−in−Publication Data has been applied for. break

Contents
Foreword Acknowledgments Abstract Introduction The Economic Importance of SMEs: Separating Myth from Reality Policy Biases and Market Distortions Implications for SME Development Strategies Business Environment Financial Services Business Development Services Subsidies: Market Distortion or Market Development? Evaluating the Success of Interventions Conclusions References link link link link link link link link link link link link link link

Foreword
This IFC Discussion Paper, the fortieth in the series, deals with small− and medium−scale enterprises and how governments and aid agencies can best encourage their development. Small− and medium−scale enterprises play a very important role in developing economies, and assisting them is a task which ranks high in the priorities of the World Bank Group and in particular of the IFC. Ms. Hallberg takes a fresh look at the issues and offers a market−oriented strategy for SMEs.break

Contents

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A Market−Oriented Strategy for Small and Medium Scale Enterprises

GUY PFEFFERMANN DIRECTOR, ECONOMICS...
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