Business Studies

It is common to find micro enterprises in developing countries because of ________.


ANSWER

lack of formal section jobs


SOLUTION
Micro enterprises account for a large fraction of employment in developing countries and they are likely to increase in importance in the future. In Sub-Saharan Africa, for example, around 8 million additional jobs need to be created annually in order to cope with the increasing number of new entrants into the labour market (The World Bank, 2013). As micro enterprises typically only provide subsistence income to few individuals the question remains whether they have the potential to grow and to contribute to the creation of jobs.
Therefore, due to lack of formal section jobs it is common to find micro enterprises in developing countries.
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