The continuation of the challenges of SME:

* Lack of succession plan

* Inexperience 

* Lack of proper good keeping.

* Lack of business strategy.

* Inability to procure the right plant and machinery.

* Raw materials sourcing problems.

* Thin management.

![unnamed.jpg](https://steemitimages.com/DQmVnTZn4qfSCYu6JxygbPaZCsrdpMW1qVZnH5Uxs6c3FLx/unnamed.jpg)

RECOMMENDATION TO FIX  THE SME CHALLENGES 

As i have listed in the Part One(1) about the challenges facing SME . The key problems are poor infrastructure and insufficient funds. i think we need more of the government hand to fix most of these challenges. The government should do as follows:

*  The government through the Banks should establish the much-awaited National Credit Guarantee Scheme for SMEs, which should guarantee at least 80 percent of loans needed by small and medium enterprises.

* If SMEs are to increase their investments substantially, the question of risk capital for the sector becomes of utmost importance especially in the long term. The government should therefore stimulate the development of Venture Capital Market for SMEs through the provision of specific tax incentives for venture capitalists. 

*  The government should reduce the tax rate for SMEs to zero percent (0%) within their first three years of life and then to 20% from the fourth year and beyond. SMEs located in rural areas should enjoy 10% tax rate from their forth year of operation. 

 * The government should provide special and appropriate grants and tax incentives to SMEs, which provide their own basic infrastructure like Power, Road and water. This will help to reduce the respective SMEs’ cost of production and make them more competitive. 

* The government should tackle accelerated development and upgrade of rural/urban road and rail network, water and air transport system and other infrastructural facilities head on and review tariff in favour of local manufacturers especially the SMEs.


Conclusion:
  Small and medium scale enterprises (SMEs) are generally regarded as the engine of economic growth and equitable development in developing economy of a country.

As i have just conclude  what you need to know about  SMEs, i hope a lot of us will learn from it in our own little ways. thanks for reading through. 

@segunreus cares!