ARTICLES

Small and medium-sized companies and factories face many obstacles that often limit the scope of their growth and undermine their long-term sustainability, such as

o   Tax burdens disproportionate to their size or output

o   Skills gaps between them and larger companies and factories

o   The credit, commercial and financial barriers and obstacles it faces

Despite this, small and medium-sized companies and factories are the engines of economic and global growth and represent on average 33% of GDP and 45% of the workforce in high-income countries and more than 60% of GDP and 70% of employment in developing economies

In this case, the rise in the number of small and medium-sized enterprises was a critical factor in economic diversification and resilience, especially in countries exposed to commodity price fluctuations.

The credit is also attributed to small and medium-sized companies and factories in creating opportunities for economically marginalized groups, democratizing the labor market and driving more inclusive economic growth.

What does the Egyptian government offer to small companies and factories to support and help them?

The Egyptian government is also supporting small and medium-sized companies and factories through attractive offers to invest in the free zones. The free zones that were created specifically for small and medium-sized companies are strategically located along the Suez Canal to give light industries and service sector companies access to various global trade routes. 

But the challenges I have faced recently have hampered the development of business globally is the pandemic where the whole world went into an intermittent shutdown process that greatly affected the business and it was almost impossible to get supplies from other countries and in such situations the need arises to run our own industries so that the population does not suffer from that.

Employment rates in medium and small companies and factories:

While most companies and factories in Egypt are small in size, with 97% of them employing less than 10 workers, medium-sized companies and factories with 10 to 50 employees represent only 2.7% of the total business.

These data show that Egypt largely lacks medium-sized companies and factories, and there are solutions that can be provided to work on solving this problem

What are the solutions that can help medium and small companies and factories to expand and develop?

Where it is possible to provide facilities and financing to some small businesses to be able to expand their activities, develop the businesses based on them, and improve the level of services and products offered by these factories and companies. 

This service was created for micro, small and medium manufacturers to help them expand without the suffering of big investment. Converting the initial cost into a monthly fee helps them generate more profits and gain larger market shares.

 Provided by White Corp, one of the leading companies in the field of engineering and industrial development and consultancy.