SMEs are ‘engines of growth’ for economies; particularly in countries such as Germany where SMEs make up 99% of the economy, driving high productivity and remaining globally competitive. Small local businesses can provide economic resiliency and create jobs through innovation. To be productive and competitive, SMEs need to identify sectors where gaps exist and develop businesses to fill those gaps. By focusing on improved quality and productivity, SMEs can drive their competitiveness. SMEs need to take advantage of technology and free opportunities when it comes to setting up and scaling up their businesses.

Source: The Guardian January 16, 2018 05:37 UTC