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5 key insights on the future-readiness of SMEs - The World Economic Forum The top challenges cited by SME executives include talent acquisition and retention (52 5% respondents), growth and expansion (43 8%), funding and access to finance (35 7%), non-supportive policy environment (21%), and the difficulty of maintaining a strong culture and clear company purpose and value (20%)
SMEs can turn cybersecurity risk into opportunity. Heres how Moreover, at a fundamental level, low awareness of cybersecurity threats and measures within organizations leads to weak protection strategies and insufficient security protocols At a macro level, the absence of tailored policies for the SME sector leads to further disparity in effective protection strategies
4 Steps SMEs Can Take For Their Development and Business Success It’s no accident that small- to medium-sized enterprises (SMEs) have grown by 120% over the last five years across developed markets They’re now seen as the backbone of modern economies, accounting for about 90% of businesses and more than 50% of employment worldwide, according to the G20 Action Plan on SME Financing
These charts show which businesses are driving the EU economy New Eurostat data shows that small and medium-sized enterprises (SMEs) make up over 99% of EU companies The insights can help target policies and inform debate at the World Economic Forum Annual Meeting 2024 in Davos
Digital transformation can unlock SME potential | World Economic Forum Despite their economic significance, SMEs have experienced a decline in their contribution to GDP In the US, for example, SME contribution to GDP has fallen nearly 5%, from 48 0% to 43 5% from 1990 to 2014 The absence of technological adoption has been a significant factor in this decline
Why SMEs are key to a more sustainable and inclusive world | World . . . We only have a few years left to alter the trajectory of our GHG emissions, reduce global inequalities, and achieve the substance of the 2030 Agenda for Sustainable Development Individually, the contribution of each SME might be modest, but collectively they could make a whole world of a difference
Why priming Africa’s SMEs for growth needs more than money | World . . . Financing is a challenge for SMEs in Africa, but other factors are also critical to SME growth on the continent A healthy and expanding small business segment in Africa increases employment, broadens the tax base, grows national revenue and frees African governments to fund social and economic infrastructure
Small Business, Big Problem: New Report Says 67% of SMEs Worldwide Are . . . Rashimah Rajah, Professor at the National University of Singapore and co-lead author of the report, added: “SMEs and mid-sized companies have unique strengths in their ability to pivot their business models to be more future ready and, by hiring and developing the right talent, they can mobilize positive internal and external change faster than larger companies
The big opportunity behind small businesses | World Economic Forum This includes our future readiness self-assessment and benchmarking tool, the creation of an SME digital community for peer-to-peer learning between companies as well as meet-ups with experts and the expansion of our New Champions community, a select group of mission-driven mid-sized companies
Japans SMEs are receiving a recruitment and retention boost The Japanese government and local authorities are ramping up their support for SME recruitment and retention schemes through financial assistance The government recently announced an ambitious five-year, JPY 60 trillion ($417m) investment plan aimed at facilitating wage growth and productivity improvements among SMEs The initiative includes