To me, it was no surprise that the soft-spoken finance minister,
During this time,
By definition, SMEs are a heterogeneous group, ranging from the simple craftsman producing tools to the owners of cafes and cybercafÃ©s in small towns. However, the statistical definition takes into account the number of employees to classify a company as an SME.
In general, SMEs are companies with 200 to 250 employees, with
This article therefore seeks to discover and chart pathways for the growth and development of SMEs in order to provide jobs and livelihoods for the population, increase productivity to improve GDP and support growth and development. economic.
Sustainable public finance is essential for the growth of SMEs in
A so-called financial public policy regime should be enacted to provide seed capital to start-ups and SMEs struggling to survive to compete in a hostile business environment, with unbridled funds flowing in and out. international to subsidiaries of parent companies under the guise of financial globalization. .
Integration of SME development through trade and investment, into the broader national development strategy and / or poverty reduction and growth policies
These growth policies, among others, involve âPlanting for Food and Jobsâ and the industrialization program of âOne
The Free African Continental
AGOA is the economic policy and trade commitment of the United States with
The development of institutional and physical infrastructure focused on enterprises contributes to the growth and development of SMEs. The institutionalization of appropriate infrastructure provides simplified legal and regulatory frameworks, good governance, abundant and accessible, and enforceable macroeconomic policies as levers for the growth and expansion of SMEs in
Indeed, low budget deficits, inflation, a stable and transparent monetary regime and a competitive exchange rate ensure the minimum stability that companies need to make sound business decisions.
The establishment of industrial parks and business incubators is also essential to provide appropriate development services to SMEs in the framework of simple technological applications and innovations, as well as to launch cluster initiatives to improve their global competitiveness while by increasing corporate profits, employment capabilities and higher productivity.
Capacity building is crucial for the survival of SMEs in
Although some forms of skills, informally and / or formally, have been able to be developed. However, the right attitude and work ethic, maintenance, the law, customer service as well as civilian life are most often lacking. Improved workforce skills are essential for the commercialization of brands and commodities for a significant market share.
Enforcement of contracts and establishment of property rights are essential for the growth, development and success of SMEs. As important innovators, SMEs must protect their intellectual capital through formal legal rights such as patents or copyright, or contractual agreements.
Making these legal rights accessible, cheaper and shorter will benefit SMEs and protect them from the vulnerability of hackers, which has the potential to set back the development of promising businesses.
Remedies, when violations are found, should be provided and made affordable through the formal institutional support system.
The writer is chief of
Ghanaian Copyright Times. Distributed by AllAfrica Global Media (allAfrica.com)., Source