The SME sector is being increasingly viewed as a pioneer of growth and prosperity in economies. They have a number of advantages which range from economic to social. On a social level, SME plays a very important role in eliminating income disparity. Usually, in emerging markets and mineral-rich economies, the phenomenon of income disparity is a nuisance. This basically occurs because of bad and ineffective political and legal structures which hinder any grass root development of the economy. In these economies, rich and elite engage in high capital projects usually catering to foreign needs such as oil refineries, auto assemblers, etc. The wealth is thus accumulated because most of the deprived class is given the role of laborers from which they do not escape their entire life. SME provides them an opportunity to start small businesses with or without government development funds. This creates a strong middle class thus reducing income disparity. Similar examples of successful SME ventures have been seen in Bangladesh where the concept of microfinance has developed a very strong economy and reduced deprivation of the downtrodden classes. SME also lead to economic activity by introducing small economic units which start generating GDP and create jobs. The reduces economic dependence on corporations and an integrated business system is developed which triggers economic prosperity by reducing the trade deficit and attracting foreign investments.Company Profile IntroductionThe company selected for analysis is The Welcome Committee. This is a unique advertising company which has revolutionized the concept of doorstep sales. The business was started by Suzanne Meyers who is a previous employee of Welcome Wagon international Inc. After receiving the pink slip from Welcome Wagon, Suzanne Meyers decided to start up her own business. She was a hardcore salesperson. the challenge for her was to start something unique which could grow big. With an entrepreneurial heart, Suzanne Meyers decided to start a business which could help her use her past experiences and links made while working at Welcome Wagon International Inc. Suzanne, therefore, started the revolutionary idea of starting a different type of doorstep sales service.
Competitive Intensity of the Repair Industry