The Importance of the SME sector

The SME sector, with its ability to generate jobs and wealth can have a direct and significant impact on the  formalization of a country’s economy.

It is said that among high-income countries of the Organization for Economic Cooperation and Development (OECD), two-thirds of all jobs are created by the SME sector. The figure is lower among low-income countries because of the overwhelmingly dominant informal sector, yet the SME sector’s contribution is significant. And as an economy grows and income levels rise, the impact of the SME sector only increases.

Source; SME Banking Guide 2009, International Finance Corporation