THE PARADIGM OF MICRO ENTERPRISES AS ECONOMIC AND SOCIAL ENTERPRISES IN PAKISTAN (CASE STUDY: PESHAWAR URBAN MARKET)

Abstract

Micro enterprise in Pakistani cities is a survival economy for those who do not have a chance to enter the labor market as well as for those who desire to shape their destiny as an entrepreneur. In the last century, access to economic life through microenterprises was possible even without or at a very low level of training. In today’s world of specialization where micro enterprise not only play significant role in the form of entry to business world but also prove to serve as input provider to small, middle and large scale enterprises, and in addition to this micro enterprises have also become capable of innovation. In this context micro enterprises have started providing training and skill to the new entrants in the form of apprenticeship because hiring of skilled labor increases per unit cost of production. Hence training, apprentice and production of skilled labor at micro enterprises have not only strengthened the role of micro enterprises as a factor for economic development, but have also become an effective tool for social institutions. Hence this research is carried out with the objective to determine the role of micro enterprises in economic development and to assess the apprenticeship at micro enterprises as social institutionalization. Data was collected from micro enterprises about the indicator of economic success and target group for social institutionalization were apprentice working at micro enterprises in Peshawar. The analyzed data showed significant contributions of micro enterprises both in economic development and social institutionalization.