MSME trade

MSMEs: Not Just Baskets and Potatoes

MSMEs: Not Just Baskets and Potatoes

Why is it that so many officials (especially) assume that small businesses only make handicrafts or grow potatoes?  Small companies do, of course, create all sorts of fantastic products including handicrafts.  But they also do so much more.  Even in developing countries and least developed countries, small firms deliver services and create products that can be incredibly sophisticated and complex. The idea that micro, small and medium sized enterprises (MSMEs) only operate in handicrafts and basic agricultural products warps policy responses.  Policy that accommodates just two types of outcomes for smaller firms leaves huge swathes of MSMEs outside policy frameworks.  Government ends up crafting programs and solutions to problems that may be completely inappropriate or potentially counterproductive for the majority of firms in the marketplace.