Small and Medium Enterprises – The Drivers of Change

By Lim Wei Seong, Teoh Ai Ping

February 2012 FEATURE
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Defining SMEsThe substantial role of small and medium enterprises (SMEs) in the domestic economy as an agent of growth has generally been recognised throughout the world. How are small and medium sized enterprises defined? According to the United Nations Industrial Development Organisation (Unido), the definition of SMEs is a significant issue for policy development and implementation, and depends primarily on the purpose of classification. Therefore, there are various definitions and criteria of SMEs adopted by different countries – some refer...

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Lim Wei Seong

is the head of the Economics and Entrepreneurship Programme at the Penang Institute. He has been in the socioeconomic research field for more than 15 years.

Teoh Ai Ping

is currently a senior lecturer and a member of the SME Assist cluster at Universiti Sains Malaysia. She has also been involved in several consultancy projects with SMEs and MNCs.