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SME's - the future is bright

SME's - the future is bright

I read recently on a USA website, I think it belonged to the Competitiveness Institute, that they see the future as being dominated by SME's, and that these SME's will be making their money in the developing economies of the world.

Assuming they are correct, and I think they are, where are these developing countries? I believe they are congregated in four distinct areas. The Middle East, Far East, Africa and South America.

I believe the least attractive to SME's will be the Middle East. Oil dominates these economies, and the complexities of the cultural and religious issues in the area make it a difficult market for SME's to target.

The Far East is perhaps the most attractive. However, these economies are fast learners and will soon close many of the opportunities to outside businesses. Cultural, language and banking issues will add an added dimension of difficulty.

Then it is Africa and South America. Africa perhaps wins the debate due to the fact that they have less cultural, language and banking issues, particularly for the European SME's. The South American countries however are perhaps more stable and prone to a lot less corruption and violence than Africa.

Well, I for one see Africa as my source of future wealth, so long as the trend towards democracy and ongoing economic growth continues.
Rob Smorfitt





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Dr. Rob Smorfitt
(Visit Dr. Rob's Website) Have an MBA and a PhD in entrepreneurship. Three key areas of ongoing research are entrepreneurship and innovation in large businesses, the impact of legislation on SMEs and SME finance. Run my own SME blog at http://sme-smb-smme.blogspot.com as well as an entrepreneurship and innovation for large businesses blog at http://innoveur.blogspot.com I have been self-employed since 1982. I have started or purchased in excess of 40 businesses since then. Most were sold again and a few were shut down because of a lack of profitability. Many were run by staff or family while I worked in full time employment in my bigger businesses. 6 books written in Entrepreneurship and Project Management educational field. Written articles for various magazines, newspapers and websites. Married with 3 children (22, 21 and 14).

Dr. Rob Smorfitt is a Platinum author on EvanCarmichael.com
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