Using SMEs to Building Resilience and Sustainability of African Economies

This book provided an emphatic argument which shows that SMEs are the bedrock of the global economy. For example, on average, 60% of the global gross domestic product (GDP) is contributed by SMEs (Organisation for Economic Cooperation and Development (OECD), 2017a). Most importantly, SMEs contribute to economic development through a number of channels which inter alia include exports, job creation, reduction in inequality, and poverty eradication which are key elements of inclusive growth (Mugano, 2023; OECD, 2017a). Studies by Beck et al. (2005), after controlling other determinants of economic growth, revealed a robust positive relationship between economic growth and the relative size of the SME sector and economic growth.