3-5 minute speech outline (any topic) Essay Example | Topics and Well Written Essays - 250 words

3-5 minute speech outline (any topic) - Essay Example This increases efficiency and saves on time in business transactions (USTR, 2010). In 2007, SMEs contributed $480 billion value of goods and services sold in the foreign market (USTR, 2010). This amounted to approximately 41% of the total exports that year (USTR, 2010). SMES account for nearly 40% of the export related jobs in the US (USTR, 2010). This further shows the importance of SMEs in trade and the economy. There are trade barriers that adversely affect performance of SMES. First, there are discriminatory policies with regards to SMEs. For instance, they may lack the financial resources and expertise to compete in international markets. Second, SMEs are faced by higher taxes as they contribute largely to the manufacturing industry (USTR, 2010). Third, they encounter challenges in standards and certification through licensing and inadequate property protection. In a nutshell, SMEs play a vital role in domestic and foreign trade. The government should therefore review the policies governing them to promote their growth and development for greater benefit of intensified