Small businesses are the engine of growth in any capitalist economy. Records from the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) indicate that Micro, Small and Medium Enterprises (MSMEs)contribute 46.54 percent to Nigeria’s Gross Domestic Product, GDP.
Also, available statistics show that small businesses make up more than 99.7 per cent of all employers in the United States of America and create more than 50 per cent of the non-farm private Gross Domestic Product (GDP).
Culled from Tribune
