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Why is SME Economic Sector Growth in Trouble?

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Naseem Javed

The Caution: Let this be clarified, new job creation demands a job creation mindset and not the job seeker mindset. What is the difference and what are the root causes of lingering economic problems of the free world? SME sector growth is a unique performance carried out by job creation entrepreneurial mindsets; unless economic development is not an academic exercise but a top national priority, a quick test needed on ‘mindset-hypothesis’ of any frontline economic development team.

The Definitions: Job seekers mindsets build organizations and job creator mindsets create those organizations in the first place. Job creators are the entrepreneurial and uniquely out of box-thinking mindsets, therefore their participation is essential in economic development front line teams 99% composed primarily of job seeker mindset, as visible on their LinkedIn profiles,  economic teams of governments across the world.

The Mindset Balances: With extremely fragile economic performances across the free world, something needs fixing fast. Unless a balance of mindsets achieved the current economic development tasks perform to create the desired goals, outcomes may further slide economic targets.  Equally, take notice why such narratives on mindset-hypothesis are missing in any top-level discussions in the Ministries of Trade, Commerce and Finance in the majority of countries.

The Economic growth is now primarily SME growth: No nation excused for ignoring their local SME vertical sectors. Globally, nation-by-nation SME sectors are the largest job creator and taxpayer base in any nation. Big business is big but small business is much bigger. Nevertheless, big business is always allowed to dance all over its own governments while in the same countries local SMEs crushed by the same governments.  With visible proof, no apologies needed. Therefore, solutions demand an entrepreneurial mindset to decipher critical pathways to success. Unless economic development teams can display hardcore entrepreneurial and SME ownership and creation experiences, the currently lingering lone academic approach to economic development based on number crunching will not achieve desired goals. A quick test on mindset balances urgently needed.

The Mandatory observance of the four key factors on SME sector growth

Primarily, the founders of existing and new enterprises are the true entrepreneurial risk-takers, job-creators and grassroots prosperity fertilizers. Normally, such founders of small medium businesses are outcast as out of the box thinkers, rejected, as they are risk-takers and not given the spotlight, as they are not large enough contributors on photo-op trails.

Secondly, the national trade groups and chambers are the umbrella where such founders gather to improve trade-flows. Trade associations and chambers treat them for being too small to pay what big corporations pay in membership fees.  During the last decades, the critical absence of digitization of each member on digital platforms to bounce in the global trade arena is a mistake at global scale. With free rains of technologies now appears a serious digital-divide based on mental-divide and lingering old models. Dramatic uplifts and new thinking are essential.

Thirdly, the national governments collecting taxes from founders are policy makers to improve the trades. This is where; national economic development on SME often delivered as just lip service compared to how they serve on silver platters the big corporate players. Openly, governments of many countries are trying hard to reduce their government worker staff by offering large funds to start business but critically lacking the understanding that entrepreneurialism cannot overnight transfer thinking with funds. Gifting a plane does not create a pilot. Passion for flying does. Front line government teams of brilliantly educated job seeker mindsets must indulge in specialized authentically curated entrepreneurial workshops and not academic classrooms already in the hands of job seeker mindsets. A revolutionary change is on the way.

Will Government Departments shrink to 25%? The world is changing fast; unstoppable forces will compress and shrink governments. Like or dislike, accept or reject, the force of speed and performance prevail. AI smart technologies will eliminate up to 75% of government bureaucracies with fully digitized and highly agile super connected 24x7x365 responsive bodies, in the coming years. Pending economic collapses and fake wars will only accelerate the process.

Lastly, for any business model, anywhere in the world, customers are the “buyers” that only prove the validity of the existence of any small medium enterprise. Customers of small medium businesses are extremely appreciative and loyal to businesses ONLY those with superior performances, quality of goods and services of real value.

This is why SME grows: Not by funding but by adding new customers. Therefore, these are the lifelong learning entrepreneurial challenges extracted from real business experiences, upskilling and reskilling to face local, national or global competitive forces to stand out. Hence, without job creator mindsets economic development is daydreaming. Check out a few dozen economic development programs around the world, observe the skill sets of frontline leaderships and notice their puzzlement to such narratives.  Job creator mindsets need added to balance the economic development.

Observe, over centuries, how the life-altering economic behavioral trends historically changed the world; how darkness dominated before the bulb, today, how paper-chase economies rule us with stagnation before digitalization. Study how absence of productivity is now a norm before upskilling. Adding the impact on losing economies shows how lack of exportability is now a standard before reskilling or advancement to competency accepted as impossibility before nation mobilization of entrepreneurialism. The world is changing and minds need to catch-up. Study special workshops on such topics and Expothon on Google.

There are no wars; just wars of minds. As an inflationary crisis, fiscal imbalances and fake economies are all human-made to fit a special agenda. Uncontrollable are the restless citizens, Unstoppable may be populism, while the connected five billion alpha dreamers are on rise and so does the creeping smartness of the global populace to decipher the truth.

Capitalism is not failing us: It is the economic development missing the boat. The deep silence on such debates provides the proof. The games of skill sets are on. Airlines need trained and experienced pilots but not the frequent flyers in cockpits. Just check LinkedIn, while digitalization has exposed the blatant weaknesses of the governments of the free world.

Just shoot your own foot; now fashionable, as geriatric-supported leadership of the free flow triple-hedged five star economies currently dancing in slow motion. Already the world is at the verge of a nuclear strike; everything is a fair game; so long, the word MONEY is unspoken. Discussion of budgets and economic development becoming taboo, seek and destroy doctrine slowly destroying own nations.

Well said Bill; “All the world’s a stage, and all the men and women merely players; they have their exits and their entrances; and one man in his time plays many parts”. Therefore, do we just need a clown to run a government; as it is only a stage, another of metaverse? Where, citizens wander like spectators, mesmerized, hypnotized and categorized, awaiting rise and fall of the curtain? The reality show of some 35 major elections amongst important nations of the world, taking place within 2022 will tell a different story.

Why urgently needed? As a top national agenda, the economic development across the free world needs revitalization, mindsets balanced and digitization to lead national mobilization of entrepreneurialism. Jobs and economic growth are now in the hands of the SME sectors of the world.  Learn fast, fail fast, recover fast, do it the entrepreneurial way.

The rest is easy.