The literature on small business development argues that SMEs symbolize special advantages, such as, employment; poverty reduction; industrial growth; source of considerable innovative activities; development of entrepreneurial talent; export competitiveness; promoting greater economic dynamism etc. to the economies of the nations. And because of its remarkable contributions, it is known as the engine of growth. So, the positive growth of this sector is a great matter of concern for the countries specifically when the economies are being typified by fundamental and wide-ranging institutional transformations in the wake of Liberalization, Privatization and Globalization (LPG). So the establishment of impact assessment mechanism is necessary to avoid the unforeseen adverse conditions. By providing a model to testify the sort of situation this book is expected to enrich the international library with the importance of safeguarding the SMEs by avoiding the adverse situation and taking the remedial actions. I hope that this book will help the international community to realize how the liberalization measures have its impact on the growth and development of SMEs.