Small and medium-sized enterprises account for 99% of all business entities in the advanced industrial world. The importance of SMEs to the real economy is immense, particularly in outlying areas, where they often play a critical role in the life of the community. Finding ways to inject vitality into small businesses is clearly a high priority for industrial economies seeking to overcome the sluggish growth of recent years. At the same time, government policy can only accomplish so much in terms of promoting small business reform in today’s highly complex society. Each company needs to adopt strategies appropriate to its sector and tailored to its own circumstances. Corporate social responsibility has a significant role to play in such private sector-driven reforms.
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