A STUDY ON THE STATUS, PROBLEMS AND COUNTERMEASURES OF SMALL AND MEDIUM-SIZED ENTERPRISES (SMEs) IN CAMBODIA

Abstract: SMEs play a crucial role in the economic development of the country, contributing significantly to employment generation and poverty reduction. This study aims to investigate the current status, problems, and potential countermeasures of small and medium-sized enterprises (SMEs) in Cambodia by providing an in-depth analysis of their current status and challenges. The proposed countermeasures offer valuable insights for policymakers, industry associations, and development agencies to design effective strategies and programs that can foster the growth and development of SMEs in the country. SMEs in Cambodia face challenges such as limited access to finance, lack of comprehensive databases, low levels of R&D expenditures, insufficient use of information technology, inadequate institutional support, bureaucratic hurdles, and skills gaps among the workforce. These challenges hinder their ability to scale up, innovate, and compete in both domestic and international markets. To address these challenges and promote SMEs growth, several policy recommendations are suggested. Improving access to finance can be achieved through innovative financing solutions like credit guarantee schemes and microfinance. Comprehensive databases on SMEs should be established to better understand their needs and design targeted support measures. Incentives for R&D and innovation, as well as the promotion of information technology adoption, should be provided. The business environment can be strengthened by reducing bureaucratic red tape, enhancing the legal framework, and promoting fair competition. Skills training programs for entrepreneurs and employees, investing in infrastructure, fighting corruption, strengthening institutional support, and enhancing human capital development are also important strategies. Promoting innovation and technology adoption through access to digital tools, innovation hubs, and R&D support, as well as fostering collaboration between SMEs, universities, and research institutions, are crucial for SMEs success in Cambodia. It is hoped that this research will contribute to the overall economic development of Cambodia and create a favorable business environment for SMEs to thrive. Keywords: Small and medium-sized enterprises (SMEs), Cambodia, Business, Economy. Title: A STUDY ON THE STATUS, PROBLEMS AND COUNTERMEASURES OF SMALL AND MEDIUM-SIZED ENTERPRISES (SMEs) IN CAMBODIA Author: Meng Kheang Sorn, Guanghui Fu International Journal of Recent Research in Commerce Economics and Management (IJRRCEM) ISSN 2349-7807 Vol. 10, Issue 3, July 2023 - September 2023 Page No: 114-127 Paper Publications Website: www.paperpublications.org Published Date: 26-August-2023 DOI: https://doi.org/10.5281/zenodo.8285765 Paper Download Link (Source) https://www.paperpublications.org/upload/book/A%20STUDY%20ON%20THE%20STATUS,%20PROBLEMS-26082023-4.pdfInternational Journal of Recent Research in Commerce Economics and Management (IJRRCEM), ISSN 2349-7807, Paper Publications, Website: www.paperpublications.or