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Role of SMEs
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5/23/2024 11:31 AM (PST)
Greetings fellow forum members, I have one question that I think we could talk about. What is the role of SMEs in the Egyptian economy? I understand that small and medium-sized enterprises (SMEs) play an important role in the economic development of many countries, creating jobs and stimulating innovation. I would like to know what the current state of SMEs in Egypt is, which sectors are most developed, what support measures exist from the government and what challenges entrepreneurs face. Maybe someone has specific examples of successful projects or statistics? Thank you in advance for any detailed answers and advice!
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5/23/2024 12:41 PM (PST)
Hi. This is a very interesting question. Small and Medium Enterprises (SMEs) do play a significant role in Egypt's economy. It is estimated that SMEs account for more than 90% of all businesses in the country and provide about 75% of jobs, which is a significant contribution to employment. The most developed sectors among SMEs are trade, services and manufacturing. Many entrepreneurs are active in retail, restaurant and handicraft production. The government tries to support SMEs through various programmes and initiatives. For example, in 2016, the "SME Support Fund" was established, which provides soft loans and grants. There are also training and skills development programmes for entrepreneurs. Nevertheless, SMEs also face significant challenges. The main problems include difficulty in obtaining financing, bureaucratic barriers and lack of infrastructure. It is also important to note the problems with access to modern technology and international markets. For more detailed analyses and reviews on this topic, I recommend visiting https://egypttour.info/
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5/23/2024 1:18 PM (PST)
I agree that the topic is very important and relevant. SMEs are indeed the backbone of the economy in many countries and Egypt is no exception. It was interesting to learn about such a high percentage of employment in SMEs and support from the government. At the same time, the challenges that entrepreneurs face also need attention. I think that infrastructure development and simplification of bureaucratic procedures could significantly help SMEs to grow and develop
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