MANAGEMENT

Detailed explanation-1: -As they have more flexible production opportunities compared to large enterprises, they adapt to the changes in demand in a short time and reach full competition conditions quickly. Thus they contribute to national income, employment, productivity and entrepreneur training.

Detailed explanation-2: -In Australia, SMEs are by far the largest employer. They contribute more than half our national GDP and make up 99.8 per cent of all Australian businesses. They are our manufacturers, our food producers, and our healthcare companies.

Detailed explanation-3: -Small and Medium Enterprises (SMEs) are the lifeblood of the economy. Right across Australia businesses such as gyms, florists, hairdressers, real estate agents, butchers, mechanics, and restaurants create jobs and stimulate economic growth.

Detailed explanation-4: -For our purposes, we divide them into five categories: technical, hybrid, instructional, functional, and sentinel SMEs. Each of these classifications has specific characteristics and contributes to our work in unique ways. Not all SMEs are created equal, and this is a real advantage for trainers.