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In last decade under the global pressure, the authors have witnessed increasing numbers of Small and Medium sized Enterprises (SME) come and go as global competition takes effect in the Caribbean Region. This paper will review the past and current development status of the SME sector in the Caribbean using Grenada as a case study. The main focus will be on finding out the problems prohibiting the sustainable development of SMES and analyzing impacts of globalization on the industry in order to bring forward a development strategy for SMEs in Grenada under the new round of globalization. The paper will provide an assessment of the current status of SMEs, SME policy, support services and utilization and barriers to the growth of SMEs.
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