UBAIDILLAH MASLI
YOKOHAM
Friday, November 12, 2010
SMALL and medium-sized enterprises (SMEs) need to embark on initiatives such as engaging and communicating with policymakers, and not leave it only to multi-lateral fora like the Asia-Pacific Economic Cooperation (Apec), to fulfill their role as the "lifeblood" of national economies.
"Ultimately, government and multi-lateral bodies like Apec can only be catalysts for economic growth and innovation," said US Secretary of Commerce Gary Locke yesterday at the Apec SME Summit 2010 held here.
He explained that entrepreneurs and SMEs owners were the ones that had to "actually do it" through efforts such as by contributing to the shaping of policies as well as public opinion.
Locke pointed out that 90 per cent of businesses and 60 per cent of the region's employment opportunities were driven by entrepreneurs from small and medium-sized enterprises.
"SMEs are also frequently the driving force behind innovation as well as the commercialisation of new products and services that are the lifeblood of our local economies," he added
It was therefore the role of policymakers within Apec to "smoothen out the road" for SMEs, as the regional forum was trying to fix some of the structural problems which have caused "imbalance and volatility" in the global economy.
"We can no longer assume that the path to global prosperity is simply paved with exports to the United States, Europe and other developed countries," he said.
The Secretary of Commerce noted that the US would do its part by increasing private savings and exports as well as taking steps to bring down fiscal deficits to a sustainable level.
He added that for other countries that were too reliant on exports for self-development could do their bit and boost their domestic demand by undertaking "concrete policies" such as regulatory reform, infrastructure improvement, investment in human capital such as in education.
Chairman of Japan Chamber of Commerce and Industry Tadashi Okamura, while delivering his opening remarks during the opening session of the Apec SME Summit 2010 held at the Yokohama Royal Park Hotel said that the region has gained momentum for growth, after emerging out of the global economic downturn as the centre of growth.
"The Apec region becomes a bigger presence in the world economy with each passing year and by 2015, it is predicted to account for 57 per cent of global GDP," he said.
Okamura said that SMEs provided "fundamental support" to these economies through such roles as job creation.
He said that it was estimated that SMEs contributed 46 per cent of Apec GDP, and based on this, it can be calculated that SMEs in the Apec region account for approximately one-quarter of the world economy. "Thus, it is no exaggeration to say that sustainable growth and development of SMEs is a key to growth in the economy of the Apec region and the (world)," Okamura said.
Globalisation and integration bring "hectic chang" and new challenges for SMEs, the Japan Chamber of Commerce and Industry chairman continued to say.
Okamura said that a survey carried out on SMEs in the region found that changes in financial environment and technological innovation have the biggest impact on SMEs' environment. Lack of human resources was also cited as a hindrance towards "internationalising"operations and growth of SMEs.
"While SMEs do not always have sufficient skill to make the most of business opportunities, they do have the agility and flexibility to overcome difficulties and open up new fields of business," he said.
He said that it was important for Apec to create business environments where SME strengths can capitalised upon, in order to successfully encourage regional economic growth.
Okamura also touched on the theme of the summit, "Big Trees Grow from Small Seeds", which emphasised on inclusive growth in the region.
"In order for a small seed to become a big tree, you need to have sturdy and big roots to be fully established," said Yokohama City Mayor Fumiko Hayashi. In that regard, she hoped that the networking opportunities at the summit would provide the participating SMEs with the "sturdy roots for you to grow your businesses".
More than 600 participants from 25 economies in the Asia-Pacific and "beyond", among them SME managers from seven economies, attended the summit.
courtesy of---The Brunei Times
"Ultimately, government and multi-lateral bodies like Apec can only be catalysts for economic growth and innovation," said US Secretary of Commerce Gary Locke yesterday at the Apec SME Summit 2010 held here.
He explained that entrepreneurs and SMEs owners were the ones that had to "actually do it" through efforts such as by contributing to the shaping of policies as well as public opinion.
Locke pointed out that 90 per cent of businesses and 60 per cent of the region's employment opportunities were driven by entrepreneurs from small and medium-sized enterprises.
"SMEs are also frequently the driving force behind innovation as well as the commercialisation of new products and services that are the lifeblood of our local economies," he added
It was therefore the role of policymakers within Apec to "smoothen out the road" for SMEs, as the regional forum was trying to fix some of the structural problems which have caused "imbalance and volatility" in the global economy.
"We can no longer assume that the path to global prosperity is simply paved with exports to the United States, Europe and other developed countries," he said.
The Secretary of Commerce noted that the US would do its part by increasing private savings and exports as well as taking steps to bring down fiscal deficits to a sustainable level.
He added that for other countries that were too reliant on exports for self-development could do their bit and boost their domestic demand by undertaking "concrete policies" such as regulatory reform, infrastructure improvement, investment in human capital such as in education.
Chairman of Japan Chamber of Commerce and Industry Tadashi Okamura, while delivering his opening remarks during the opening session of the Apec SME Summit 2010 held at the Yokohama Royal Park Hotel said that the region has gained momentum for growth, after emerging out of the global economic downturn as the centre of growth.
"The Apec region becomes a bigger presence in the world economy with each passing year and by 2015, it is predicted to account for 57 per cent of global GDP," he said.
Okamura said that SMEs provided "fundamental support" to these economies through such roles as job creation.
He said that it was estimated that SMEs contributed 46 per cent of Apec GDP, and based on this, it can be calculated that SMEs in the Apec region account for approximately one-quarter of the world economy. "Thus, it is no exaggeration to say that sustainable growth and development of SMEs is a key to growth in the economy of the Apec region and the (world)," Okamura said.
Globalisation and integration bring "hectic chang" and new challenges for SMEs, the Japan Chamber of Commerce and Industry chairman continued to say.
Okamura said that a survey carried out on SMEs in the region found that changes in financial environment and technological innovation have the biggest impact on SMEs' environment. Lack of human resources was also cited as a hindrance towards "internationalising"operations and growth of SMEs.
"While SMEs do not always have sufficient skill to make the most of business opportunities, they do have the agility and flexibility to overcome difficulties and open up new fields of business," he said.
He said that it was important for Apec to create business environments where SME strengths can capitalised upon, in order to successfully encourage regional economic growth.
Okamura also touched on the theme of the summit, "Big Trees Grow from Small Seeds", which emphasised on inclusive growth in the region.
"In order for a small seed to become a big tree, you need to have sturdy and big roots to be fully established," said Yokohama City Mayor Fumiko Hayashi. In that regard, she hoped that the networking opportunities at the summit would provide the participating SMEs with the "sturdy roots for you to grow your businesses".
More than 600 participants from 25 economies in the Asia-Pacific and "beyond", among them SME managers from seven economies, attended the summit.
courtesy of---The Brunei Times
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