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Using SMEs to Building Resilience and Sustainability of African Economies

In: SMEs Perspective in Africa

Author

Listed:
  • Gift Mugano

    (Durban University of Technology)

  • Nirmala Dorasamy

    (Durban University of Technology)

Abstract

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.

Suggested Citation

  • Gift Mugano & Nirmala Dorasamy, 2024. "Using SMEs to Building Resilience and Sustainability of African Economies," Springer Books, in: SMEs Perspective in Africa, chapter 0, pages 211-224, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-69103-4_10
    DOI: 10.1007/978-3-031-69103-4_10
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