This paper explores the current status of entrepreneurship development process in selected south and south-east Asian countries. Small and Medium Enterprises (SMEs) are of great importance to the region due to socioeconomic and political reasons. The paper focuses on the various government interventions and also the role played by the national and international agencies. Entrepreneurship education and training are the major focus areas of the paper. The paper attempts to present a framework based on the experience of Indian entrepreneurship development movement and a model which can be replicated considering certain socioeconomic and political similarities of India at the various stages of the economic development with other countries of the Indian subcontinent as well as other south and south-east Asian countries.

The importance of entrepreneurship - the process of recognizing opportunity and addressing it through an organization to foster economic growth - has been emphasized for many years. In the presence of market imperfections, entrepreneurs are needed to "search, discover, and evaluate opportunities, marshal the financial resources necessary for the enterprise, make time-binding arrangements, take ultimate responsibility for management, (and) be the ultimate uncertainty and/or risk bearer". Many public officials around the world have also supported the intuitive notion that entrepreneurship has a positive impact on Gross Domestic Product (GDP) growth and employment.

In south and south-east Asian countries, entrepreneurship through small and medium-scale enterprises (SME) is a major economic phenomenon. SMEs including micro-enterprises form the backbone of the economy in south and south-east Asian countries. They are the largest source of domestic employment across all economic sectors, in both rural and urban areas. The SME sector also provides opportunities for the women and the young to participate in the economic development of the country. A strong, dynamic and efficient SME sector will ensure the sustainable economic development. Thus, encouragement and promotion of competitive and innovative SMEs is necessary in contributing to greater economic growth of the south and south-east Asian region. The SME sector in this region is confronted with a wide range of structural fiscal and non-fiscal issues and challenges, such as limited access to finance, technology and market.

There is a lack of entrepreneurial spirit and management skills among South and south-east Asian SMEs. These problems are compounded with the lack of information, compliance to standards and certification and turbulent business environment. In addition, the new trend of conducting business utilizing infocomm technology (ICT) as well as the outsourcing and networking strategies adopted by large enterprises and multinational companies (MNCs) require SMEs to undertake proactive measures to ensure their business sustainability.

Small and Medium Enterprises, SMEs, Gross Domestic Product, GDP, Economic Sectors, Multinational Companies, MNCs, Business Environment, Policy Framework, Entrepreneurship Development Program, EDP, Entrepreneurship Development Institute of India , Indian economy, Global Retail Development Index.