In the product market, a firm competes with other firms for market shares.

While the market and its development are essential for the operation of firms, the market alone will not be sufficient for the smooth operation of firms.

SMEs from Singapore remain interested in regional markets rather than global markets but the larger enterprises are investing as farafield as in Europe, the Middle East and Africa.

It nurtures a pro business environment that encourages enterprise formation and growth, facilitates the growth of industries, enhances the productivity, innovation and capabilities of enterprises, and helps increase access to markets and business opportunities.

Prospects for the world steel market and opportunities for new entrants, in particular for developing countries

At the same time, SMEs face increased competition in both domestic and international markets.

In other words, SMEs from Singapore remain interested in regional markets rather than global markets.

60. Support programmes should be designed to help promote inter firm linkages among SMEs and between them and larger firms so as to improve skills, business information and production, marketing and sales opportunities of SMEs through inter firm and market networks.

2. Corporate strategies for seizing market opportunities

Market vitality comes from people, especially from entrepreneurs, from entrepreneurship.

Agreement for the Establishment of a Common

The business community felt that there was a need to provide information on both market opportunities and criteria for the identification of suitable joint venture partners.

Limit access to a market or free competition among enterprises

At the same time, such clusters of enterprises situated in proximity of one another and sectoral networks among enterprises can enhance world market entry by facilitating access to and promotion of information regarding markets and technology.

The second focus area is aimed at facilitating the entry of SMEs into international markets and value chains through the promotion of export consortia and the promotion of corporate social responsibility (CSR) and business partnerships.

Both of them are about investing in entrepreneurs who are committed to service, and who really know the markets.

Linkages with local businesses can also help the latter to explore new export or product markets.

Foreign enterprises are increasingly investing in emerging markets.

Additionally, OFDI by SMEs has a greater tendency to go to neighbouring countries to diversify risk and access new markets, compared with OFDI by large enterprises or TNCs.

Enterprise partnerships involving both local and foreign firms can help African enterprises achieve competitiveness in regional and global markets.

In this regard, OFDI has helped expand the market scope and access to new markets overseas for these SMEs.

More recently, the emergence of stock markets and broad scale privatization of public enterprises have led to new forms of enterprise growth through equity and acquisitions.

From the start, therefore, the size of the domestic market imposes limits on enterprise development and on the degree to which local enterprises can accumulate technological capability and a knowledge base through the process of technological upgrading, growth and competitiveness in the domestic market.

Increased competitiveness can result from the growing reputation of a Singaporean firm in both domestic and foreign markets.

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A range of government policies influences the behaviour of firms directly or through the market, institutions, infrastructure and inter firm relations.

Studies of African and other countries show that inter firm or market networks have helped to provide business support services highly valued by SMEs.

The liberalization of financial markets has made it easier for larger SMEs to gain access to international capital markets.

Thus, firms have utilized information technology in strategic planning and in the implementation of goals and objectives, in assessing the strength and innovativeness of markets and products, and in assisting enterprises to adapt swiftly to changes in the market place and in the overall international environment.

New approaches to small scale enterprises were part of market oriented policies.

For their creation and operation, firms draw on both factor and product markets.

By investing in these markets, SMEs can reduce the large costs associated with gathering information about the foreign market (UNCTAD 2004b).

An expert reported that a recent Brazilian study of enterprise survival factors had found that the enterprises more likely to survive and thrive were those which were market oriented and which had links with other organizations and firms.

In the product market, competition among firms producing the same product, or close substitutes, can differentially affect a firm s performance, depending on the structure of the market and the nature of the competition policy pursued.

There are different retailing formats corner store, cash and carries, convenience stores, specialized stores, department stores, discount stores, hypermarkets, superstores, supermarkets, warehouse clubs, supercentres, mail order catalogue sales, and virtual stores.

This process has led to a concentration of sales, with large firms and chains dominating the market.

However, an enterprise with special needs may purchase AMU courses specially tailored to suit the needs of the enterprise

Globalization may reinforce traditional relations of dominance between firms.

SMEs were constrained by lack of finance, inadequate entrepreneurial skills and training, limited access to markets and vital business information and technologies and the high cost of doing business.

An enterprise or group of enterprises exercise market power when its or their activities occupy a dominant position in the domestic market or a substantial part of it which is characterized by a monopoly or a manifest concentration of economic power.

In some cases, export companies have seen a more rapid growth than those producing solely for the domestic market or those in the service sector.

First, the country's limited domestic market is a very significant push factor in propelling Singapore enterprises to expand their markets abroad.

In the Colombian market large scale retailers coexist with SMEs, each one serving a different segment of the market.

Its ultimate aim is to nurture a host of dynamic and innovative Singapore enterprises that can serve the domestic market and invest in the regional and global marketplace.

Such markets can stimulate investment and encourage new private sector enterprises to emerge and prosper.