Strategic Cost Management and Business Performance A Study of SMEs In Karnataka

Abstract

Globally, Small and Medium Enterprises (SMEs) play a most important role in most economies, especially in developing countries. Formal SMEs contribute up to forty five percent of overall employment and up to thirty three percent of national income (GDP) in developing economies. These numbers are considerably higher when informal SMEs are included. According to estimates, 600 million jobs will be required in the next fifteen years to absorb the increasing worldwide workforce, mainly in Asia and Sub-Saharan Africa. In emerging markets, most formal jobs are with SMEs, which also create eighty percent of 5 new positions. newline