14. Market Size

The global market size of SMEs (Small and Medium-sized Enterprises) is very significant, as these businesses play an important role in the economic growth of countries around the world. While specific market size estimates may vary depending on the definition and classification of SMEs, here are some general descriptions :

  • According to the 2021 report by the International Council for Small Business (ICSB), there are approximately 582 million SMEs worldwide, which contribute to about 40% of the total global economic value. SMEs also create jobs for around 1.5 billion people worldwide, or about 50% of the total global workforce.

  • In terms of revenue, SMEs generate trillions of rupiah in economic activity each year. For example, according to the International Trade Centre, SMEs in developing countries alone generate $5 trillion in revenue annually. In the United States, small businesses (including SMEs) account for over 44% of the country's economic activity and generate about $8.5 trillion in revenue.

The global market size of SMEs is broad and vital to the world economy, as these businesses significantly contribute to job creation, economic growth, and innovation.

The potential of Specta Blockchain is enormous for developers and the SME market. In the development of Specta Blockchain, skilled developers are needed in developing smart contracts, blockchain applications, and blockchain network infrastructure. SMEs can leverage this potential by offering blockchain development or blockchain application services to companies in need.

Specta Blockchain can also help SMEs market their products online. For example, the use of blockchain technology can provide additional security in e-commerce transactions and enable consumers to track the origin of products and ensure their authenticity and quality. This can help increase consumer confidence in SME products.

Specta Blockchain can also help SMEs access financial resources more easily. In recent years, blockchain-based crowdfunding and peer-to-peer lending platforms have emerged that allow companies to borrow funds directly from individual investors or lenders without intermediaries. This can help SMEs that have difficulty accessing financial resources through traditional financial institutions. Overall, Specta Blockchain can provide many opportunities for developers and the SME market. The use of this technology can help improve business efficiency, enhance transaction security, and open doors to easier access to financial resources.

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