Drawing insights from the literature on global value chains and similar approaches, it is argued that adopting a value chain approach could help Micro and Small Enterprises (MSEs) to gain from the benefits of integration into global/local value chains and making them competitive. This paper reviews the theoretical perspectives in value chains and the emerging market development paradigm for small enterprise development. It provides evidences from experiences of practitioners and development agencies on the adoption of value chain approach as a facilitation tool for integrating MSEs into market. The evidence from literature suggests that adopting a value chain approach provides enormous opportunities for small enterprises to become competitive.