Small Enterprises and Their Role in the Current Economic Based Modern System

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ACKNOWLEDGEMENT

My thanks go out to all who have helped me complete this study and with whom this project may have not been possible. In particular, my gratitude goes out to friends, facilitator and family for extensive and helpful comments on early drafts. I am also deeply indebted to the authors who have shared my interest and preceded me. Their works provided me with a host of information to learn from and build upon, also served as examples to emulate.

DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, and this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views and not essentially which are associated with university.

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ABSTRACT

This research study is an attempt to study the role that small businesses play in the modern market economy. From a global perspective, it has been known that small enterprises play a very important role in the development of the economy. This research study has adopted two method of research for meeting the objectives of this dissertation. It applied a qualitative and a secondary method of research. Five participants were interviewed for this research study for obtaining detailed responses regarding the role that small businesses play in the modern economy. Furthermore, secondary research has also been applied to this research study in order assess the previous researches that have already been conducted on the role of small businesses in the modern economy. The results of this dissertation have shown that small businesses play a significant role in the modern economy. They are considered to be the primary source for the development of a country's economy as they increase employment and grow the output not just for both the developing and the developed countries. Additionally, it is also important to note that the small business themselves are not that strong to make the economy grow. Without the commercialisation of the large enterprises it is not possible for the economy to grow. The overall demand for the conditions is not restrictive; therefore, no sustained and significant small enterprises growth can be expected.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

CHAPTER 01: INTRODUCTION1

1.1 Background of the Study1

1.2 Aim and Objectives3

1.3 Research Question3

1.4 Significance of the Study3

1.5 Layout of the Dissertation3

CHAPTER 02: LITERATURE REVIEW5

2.1 Introduction5

2.2 Theoretical Framework5

2.3 SME Development7

2.3.1 Macroeconomic Factors8

2.3.2 Business Environment10

2.3.3 Growth Opportunities for Small Businesses10

2.3.4 Small Businesses Development and Historical Determinants12

2.4 Government Policies on SMEs12

2.5 Realities of the Market and Ideology of a Free-Market13

2.6 Small Enterprises and Economic Development15

2.7 Role of Small Enterprises in the Modern Economy16

CHAPTER 03: RESEARCH METHODOLOGY19

3.1 Introduction19

3.2 Research Method19

3.3 Research Philosophy19

3.4 Qualitative Method of Research20

3.5 Secondary Method of Research21

3.6 Research Instrument22

3.7 Sample23

3.8 Reliability23

3.9 Validity23

3.10 Informed Consent24

3.11 Confidentiality24

3.12 Ethical Concerns24

3.13 Limitation of the Dissertation25

3.14 Data Analysis25

3.15 Conclusion26

CHAPTER 04: DISCUSSION AND ANALYSIS27

4.1 Introduction27

4.2 Interview Analysis27

4.3 Secondary Research Analysis28

4.3.1 Problems faced by Small Businesses29

4.3.3 The Successes of Small Businesses in the ...