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There is no single definition of a small firm, mainly because of the wide diversity of businesses. A few of them adopted by different committees are listed below. Each economy has its own definition, which is reviewed in the chapter on Definitions.
The types of small businesses, its difference from the larger firms, and other aspects are discussed in the chapter on Types and forms of SMEs.
SMEs have an important role to play in an economy. They are innovative, provide jobs, enable technology transfer and are a good support for the MNCs. Role of SMEs discusses these roles played by SMEs.
There are various reasons why anyone would start a small business as also certain uncertainties about running the business. Reasons/barriers for starting SMEs discusses this aspect.
Why an SME succeeds is discussed in Success factors.
Similary what factors can cause an SME to fail and the trends in failure are discussed in Failure factors.