Sunday 22 July 2007

Making SMEs Competitive

The Small Medium Enterprises (SMEs) sector is vital to any economy. In the so called "new economy", this sector has demonstrated its potential when big ideas from then "small" individuals ended up in creating amongst the world largest companies such as Microsoft, Google etc.

The challenges for entrepreneurs behind these SMEs are enormous. They include identifying opportunities in the ever changing business world, developing winning business models, manage the business to deliver their value proposition to the targeted markets and eventually generate values (economic or otherwise) to themselves. They have to get all these right or otherwise, they would be joining a long list of others who have failed ~ around 70% of startups would fail later!

I have been involved with entrepreneurs and the SMEs since my first employment in a chartered accountancy practice in Perth, Australia, in 1987. Since then, my career in public accountancy, my involvements with accountancy bodies in Malaysia and Australia and my appointments to govermental bodies which relate directly or indirectly with business and competitiveness have contributed to my passion in encouraging and facilitating SMEs to move up the value chain and attain sustainable competitiveness.

Through this medium, I intend to share my views and thoughts on issues relating to competitiveness of SMEs which I believe is very critical in making this world a better place for everybody.

Nik Hasyudeen