Write a 8 pages paper on faisal -business development of small-scale businesses in saudi arabia. A brief scan of the important theories and the challenges to them are as follows: Firm size: According to Schiffer and Weder, the prevailing assumption is that SMEs have more problems than large firms because of their size. The reasons favoring large firms include economies of scale and entry costs. political influence. and greater visibility. Life Cycle vs Age: Masurel &amp. Montfort (2006) analysed the stages in the life cycle of small and medium scale enterprises, in particular in the professional services sector, and distinguishing one stage from the other. Four stages were distinguished – starting. growth. maturity. and decline. First three stages show a diversification in sales, increase in differentiation of labor force, and increase in labor productivity. In the last stage, all these measures decrease. These stages, rather than the firm’s age, are what determine its growth.

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