SMEs are running head-on into a barrage of changes, but, for the first time, technology is opening up doors and providing access to tools, products and services that have traditionally been reserved only for their larger brethren.
The majority of businesses within most economies are small to medium enterprises (SMEs). These comprise 99 per cent of all firms in the OECD group of countries. As such, SMEs play an important role in the economy.
It has never been a better time to be a SME founder/owner. Not that the challenges of starting up a new organization or sustaining it have become any easier (they haven’t), or the profits are there for the taking (they’re not), but what is true is the environment is rich with technology, world markets are more accessible and current demographics are contributing to a rise in interest in small businesses by and for the Boomers (including over 80 cases to illustrate the evolving SME business platform).
All these combined suggest that the future road will be characterized by a welcoming marketplace, the emergence of even more tools of the trade taking advantage of advancing technology, and the convergence with the information revolution which opens up new business opportunities every day.
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