Answered: ONE OF THE FOLLOWING IS NOT A CHALLENGE…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

ONE OF THE FOLLOWING IS NOT A CHALLENGE FOR SMES IN GCC. a. None of the above b. Innovation, business planning and management issues c. Access to talented manpower for Gulf SMEs is limited d. Banks in the Gulf are generally reluctant to lend to SMEs

Expert Solution

Step 1

Small-to-Medium-Enterprises

SME i.e. Small-to-medium enterprises are very crucial for the economic development of any country.
Small-to-medium enterprises can be defined as businesses or organizations that have revenue and assets and the number of employees below a limit specified.
However, the definition of Small-to-medium enterprise can vary from country to country.
Small-to-medium enterprises generally provide employment to a vast number of persons and thereby doing this they provide a contribution to the economic betterment of any country.
Therefore, many incentives and favorable tax treatments, and easy loans are also provided by governments to such enterprises so that they can maintain their ongoing business activities smoothly and cater to their needs.

GCC (Gulf Cooperation Council)

It is a Political and Economic union of Arab states around the border of the Gulf.
It was established in the year 1981.
There are 6 countries which are members of this council

Unites Arab Emirates
Saudi Arabia
Qatar
Oman
Kuwait
Bahrain

In the given question we are provided four options and out of such options we are required to answer that which option is not a challenge for Small-to-medium enterprises in GCC (Gulf Cooperation Council)