As HR professionals, we have been spending our time and efforts supporting people and organizational development. But now, and even more going forward, we need to support innovation and entrepreneur behavior in our staff and in any professionals around us. The target is to make a material contribution to create wealth, new entrepreneur opportunities and therefore, new jobs.
The importance of SMEs to any economy is critical. As the major source of employment and wealth creation, they are the lifeblood for all economies. They represent more than 95% of firms around the world and generate about 50% of global GDP. They number between 420 million and 510 million overall, of which an estimated 310 million are in emerging markets, according to data from World Bank Group.
Any initiative supporting SMEs development is welcome, regardless of whether it has been done in its own interest or not. I share with you a document from Alibaba and I recommend you spend some time (not too much….) on the free document shared by them cold “Alibaba White Paper”. Although it’s focused on Alibaba’s Trade Assurance, as a solution to support cross border trade for SMEs, there is a lot of interesting information about how to create “confidence” and to provide financial support to SMEs using the latest new trends from the digital world: big data, analytics…. And they talk about Industry 5.0….by 2020?? We will see. I hope you consider it useful for your SME.
Photo credit: eurobiz.com.cn