Performing a literature review is like an art. It is a precursor in the introduction of a research paper. A literature review can be defined as a critical and in depth evaluation of previous research. It is a summary of a particular area of research allowing anybody reading the paper to establish why pursuing the research program.
The purpose of a literature review is to help in explaining how the question to be investigated fits in and the reason why the researcher has approached the topic. It also allowed the reader to be brought up to date regarding the state of research in the field and familiarizes him or her to any contrasting points of view on the topic.
In this chapter the history and evolution of this tremendous …show more content…
The marketing aspects will be elaborated in order to give the readers a view of how the creation of an SME’s takes place and the process will be explain.
Through this literature review there is an evaluation of how SME’s success has help countries but also citizen of different countries to progress. Furthermore examples of great entrepreneur is mention and pointed out, which the researcher think will be an example to readers who are tempted to explore the entreneurial world.The women implication in the SME world is also pointed out. There is the fact that women are more involve in small business creation than …show more content…
These countries classified small companies to have less than 50 employees, while medium sized companies are those companies which have less than 250 employees.
At lower end of the SME sector a large number of countries define it as a group which a mixture of the self-employed and “micro” enterprises, with less than 10 employees.
On the 6 May 2003 the Commission Recommendation concerning the definition of small and medium-sized enterprises confirm this definition and it entered into force on 1 January 2005 and is mandatory for national State aid schemes and Community. Furthermore to that the European Union (EU) added a close to the definition and said that a is small and medium-sized enterprises (SMEs) is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding EUR 50 million, and/or an annual balance sheet total not exceeding EUR 43 million. This is illustrated in the figure below.
Company categories as Number of employees Annual Turnover
Small < 50 ≤ € 10