Rethinking SME Strategy: Why policymakers should embrace the dynamic capabilities perspective

Despite their vital contribution to national economies, many small and medium enterprises (SMEs) in emerging markets continue to struggle with volatility, weak performance, and early failure. In Ghana, where SMEs account for around 92 percent of registered businesses, contribute 70 percent of GDP, and employ over 85 percent of the manufacturing workforce, a different strategy is urgently needed. […]