Main Article Content
Abstract
Worldwide dynamism and rapid evolution in tourism industry, call for a new entrepreneurial approach, both in new business development and existing businesses. This paper aims to identify the relationship and role of Micro, small and medium enterprises in the tourism and hospitality industry and their link to the socio-economic development of the local community. Micro, Small and medium-sized enterprises (MSME) are non-subsidiary, independent firms which employ lesser than a given number of employees. Micro, Small and medium enterprises (MSME) make up the vast majority of businesses in most countries. In the early stage of the tourism development, entrepreneurship has played a vital role, especially in the rural and ethnic community where the multinational firms and international hotel chains were less interested in investing because of comparatively-small size of the potential market.