Small-business ownership encourages personal freedom and individual empowerment and contributes to social and political stability. In many developed countries, the SME sector has been the catalyst for product innovation and for productivity enhancement. For these reasons, in virtually all successful economies, the development of small- and medium-sized enterprises is given special priority.
An analysis of countries that have had the most success in the development of the SME sector suggests that there is no single blueprint that is effective for all times and in all places. The analysis, however, points to certain pre-conditions and best practices which are paramount.