Innovation in VSMEs of Pakistan : What Next!

SMEs play a vital role in the most developing and developed nation. His role in the development of the economic growth and sustainability has been widely recognized. Due to its importance much emphasis has been put in through research and publication. Most research has covered on the characteristics of SMEs, its role in the economic development and its challenges in today's competitive world. Consequently this paper focus on the uniqueness of the technology base SMEs. This study mainly focus on those SMEs which having informal structure, micro in size, located in remote and rural areas and work force are up to five persons, which after this will be called at Very Small and Medium Enterprises (VSMEs). It described the capability of these VSMEs to innovate and retain their competitiveness. Its therefore suggest a conceptual framework for the VSMEs as in input to the Government to provide funding and training on more effective and efficient manner