Entrepreneurial Business Ethics and Good Governance

Abstract

Small medium enterprises (SMEs) have proven and are known to be one of the biggest contributors to the economy of developing countries. Evidence shows that SMEs provide a number of job opportunities, which results in unemployment reduction, poverty eradication, and a bigger boost towards other economic activities. However, most SME entrepreneurs face an array of problems such as access to funding, building up international connections, getting appropriate knowledge and access to adequate technology. These issues are then further intensified by the lack of proper governance and the avoidance of business ethics by most SME entrepreneurs. Over the past years, the number of SMEs has grown drastically in developing countries (Nigeria, Algeria, Brazil, and Vietnam), which has also resulted in an increase in competition within the sector. This has given rise to the need to install the strategies of corporate governance with the aim of strengthening the competitiveness of SMEs.