ECONOMIC CONTRIBUTIONS OF SMES: CHALLENGES IN ACHIEVING SUSTAINABLE DEVELOPMENT

Small and Medium-sized Enterprises (SMEs) play a pivotal role in economic development by fostering innovation, creating employment, and driving GDP growth. However, achieving sustainable development through SMEs is fraught with challenges, including limited access to finance, insufficient technological capabilities, and regulatory bottlenecks. This article investigates the economic contributions of SMEs to sustainable development and explores the barriers hindering their potential. The findings underscore the need for tailored policies and innovative strategies to empower SMEs as key drivers of sustainability.