Real stories of small business success : successful, small scale, manufacturing from five European island regions : a training manual

Abstract

It is common knowledge nowadays that small and medium sized enterprises (SMEs) are very important to economic growth. Their positive contribution is all the more evident in the context of massive lay-offs from large firms and especially appreciated in epochs of long term, structural unemployment. SMEs play an even more pronounced role in the case of very small islands, since the typical average enterprise size is even smaller than elsewhere.

Manufacturing is also seen as an important contributor to economic growth and development. The factory has been a symbol of industrial progress for the last 200 years. Manufacturing creates many jobs, usually in large firms, develops technical skills, adds higher value to products and creates many supportive service industries. However, many handicaps can affect the set-up and operation of SMEs which are based in small island territories And are involved in manufacturing. How challenging are these handicaps? Can they be overcome? How? Can some small firms from small islands serve as models of successful export-oriented development? And if so, which? What would be their characteristics?