The Lifeblood of any Local Economy
Nothing matters, if SMEs do not. Our love for acronyms has reduced the nucleus of a local economy to the three letter word “SME” – for Small and Medium Enterprise. When discussing local economy, it doesn’t really matter what state, province, city, town, village or even country is cited; the same principles, rules, regulations and statistics apply, and SMEs are in jeopardy.
Without a regulatory environment geared to enriching the preliminary experiences of small and medium enterprise, we are (to use the vernacular) “shooting ourselves in the foot.” Too often, unnecessary obstacles are thrown into the paths of those seeking guidance. The next great invention may fail to even be understood, as most financial institutions simply have “a big business mindset.” Traditional lending institutions are conditioned to demand crippling collateral from those short on capital, and entrepreneurial passions and practical experiences are too often ignored.