“SMALL AND medium enterprises have a vital role in society’s development as it contributes 70 per cent of the employment. The significance of SMEs in driving innovation and competition is well recognised. A clear understanding on your strategy will help you to scale new heights in SME sector,” said Sharjah Ports and Customs and Hamriyah Free Zone Authority director-general Dr Rashid Al Leem.
He was delivering the key note address on - Seminar on SME challenges, organised by the Kerala Chamber of Commerce and Industry at Kochi here on Monday (January 10).
Dr Rashid explained that the main challenges in front of small scale- medium enterprises are – clarify strategy, sustainability, protect and grow customer loyalty, tightly manage cash flows and liquidity and low levels of research and development.
“SMEs are essential for creating large businesses. It fits well into the industrial concept of co-ordination, integration and multi-disciplinary approach in the deployment of total business solutions. Educate SMEs and try to learn new innovations that are happening in and around us.
Besides, when you design a product think about the new generation,” Dr Rashid added.Continue reading…
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