Business development services for micro, small and medium enterprises - literature review of past trends and future directions

Abstract

This article examines the research literature to understand the current and emerging trends pertaining to the role of business development service (BDS) providers in the performance of micro, small and medium enterprises (MSMEs). The MSMEs account for 60% to 80% of the total jobs thereby posing a key influence in the economic growth of the nations. The availability and access to BDS providers (public and private) is essential for MSMEs to learn and acquire new skills regarding marketing, operations, management, resourcing, technology and innovation. However, the research literature reflects the underdeveloped nature of BDS markets, weak acceptance among the MSMEs, dynamic challenges for the BDS providers and changing market trends from public to private BDS providers. The research objective involves: 1) evaluating the evolutionary aspect of the BDS concept; 2) understanding the definition of BDS providers; 3) identifying the key challenges faced by the BDS providers; 4) identifying the strategic actions undertaken by the BDS providers.