The Economic Impact of Extensive Number of Small and Medium Enterprises (SMEs), using Complex Adaptive System Analysis
DOI:
https://doi.org/10.61569/36c3r970Keywords:
Complex Adaptive System (CAS), Extensive, GNI per capita, SMEsAbstract
Business entities are classified into two major groups; Large Enterprises (LEs) and the Small and Medium Enterprises (SMEs). Using Complex Adaptive System analysis, this paper investigates the economic impact of extensive number of SMEs among 93 countries randomly selected across the globe. The data was mined from the databank of World Bank Organization on January, 2019. Histogram and scatterplot were used to facilitate data analysis. The results revealed that extensive number of SMEs of a country does not guarantee to provide economic growth as reflected by their unpredictable level of Gross National Income (GNI) per capita. Hence, there is a need for policy makers to craft long-term program/s that address the challenges which hinder SMEs from executing their role in job creation and poverty alleviation of the country.
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