Solutions for SMEs for the UK and Saudi Arabia - Dissertation Example

Al Qirim [1] stated that Small and Medium Enterprises (SMEs) are strong economic forces of a nation helping in generating revenue and strengthening the economic structure of a nation along with playing a key role in the sustained economic growth. SMEs act as the backbone of a nation’s economy and continue to help in the future economic growth. As, there are a number of challenges pertaining to the economic growth of a nation, governments across the world have been keen in strengthening their business framework and policies to support the smooth operation of SMEs. (Zongqing [2] believed that SMEs also help in creating employment opportunities in a nation and thus creating a favourable competitive business environment to facilitate the economic growth.

The definition of SME varies from country to country. In European countries it is said that small and medium enterprises must have 250 employees and a turnover of not more than 50 million euro [20]. In order to attain growth on the part of SMEs, a lot of initiatives have been taken. Some of them are accepting different kind of technologies like e-commerce and e-technologies. Bhasker [3] stated that Ecommerce is a method by which goods can be sold and purchased through the help of web technologies like money transfer from one country to another and online shopping. It has become an important tool of sales and marketing mainly because of the acceptance by a number of customers all across the world. Moreover, the advent of web technologies has also helped in adding value to the conventional business framework offering wide arrays of business value and customer base.

1.2: Research Aim
The purposed aim of the research is to review solutions for e-commerce which helps in the growth of the SMEs and evaluate those solutions in terms of impact and influence. It also aims to achieve the factors which help the SMEs in facilitating the economic growth the United Kingdom and Saudi Arabia.

1.3: Research Objectives
In order to support the purposed research aim, the researcher has devised few objectives which will lead to the accomplishment of the research objectives. The research objectives are:

 To underpin how e-commerce can benefit the companies belonging to the SME sector
 To assess and analyse the advantages and disadvantages of e-commerce technology
 To identify ways through which e-commerce can increase the profitability of the SMEs firms
 To investigate reasons behind the low adaptability rate of e-commerce by the SMEs