Entrepreneurship and SMEs: a conceptual policy framework to financing

Rogerio Studart, Edilene Silva, Pietro Masci

IDB - june 2007

Over the long history of the development of economic doctrine, many great minds have turned to the concept of the entrepreneur. This term has long been used by economists with varying emphases at different times because of the evolution of global markets and the boost it generated to small-business. The concept remains relevant to economic development as one enters the new millennium, for how the market treats entrepreneurs has immediate and profound effects on overall internal and external economic performance and the direction of economic activity.

The purpose of this paper is to clarify and identify the importance of entrepreneurship, through its role in the development of small and medium-sized enterprises and, consequently, to economic growth. It also highlights the access to finance challenges faced by these enterprises to survive in increasingly competitive markets.
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(07/01/2007)

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