ABSTRACT
Gross domestic product (GDP) is a monetary term describing the accumulated value being produced in a country and has several sources of input. Input comes from the four main sectors of agriculture, industrial production, industrial service and public service. Small and medium enterprises are represented in all four sectors and hence contribute to a country’s economic development. The direct contribution to GDP comes from the accumulated net value produced by each individual firm and organization. Net value or added value is the value at market price of output produced, where the costs of the inputs required in doing so has been deducted. But small and medium firms also contribute indirectly by offering job opportunities whose salaries contribute to consumption and thereby to the demand for these same products and services.
