Small and medium enterprise productivity in Asia: Getting the policies right

Small and medium enterprises (SMEs) represent the vast majority of businesses in Asia and provide a significant share of jobs and output. SMEs accounted for 98% of all enterprises, 66% of the labor force, and 38% of gross domestic product in Asian countries, on average from 2007-2012. Their importance in the services sector, where economies of scale are less binding, is well known. They also play an important role in manufacturing, providing components in value chains linked to multi-component goods and producing their own finished products. Small start-up businesses, including in high tech fields, are a spur to innovation throughout the economy. The workshop will develop the capacity of government officials to design effective policies and programs to raise the productivity of small and medium enterprises (SMEs), the ADB's official website reads.