Future Readiness of SMEs: Mobilizing the SME Sector to Drive Widespread Sustainability and Prosperity
Small and medium-sized enterprises (SMEs), which represent around 90% of all firms globally, provide roughly 70% of all employment and, by some estimates, contribute to up to 70% of global GDP. At an aggregate level, these businesses play a significant role in enabling, constraining and shaping the nature of growth, innovation and sustainability in our global, regional and local economies.
Small and medium-sized enterprises (SMEs), which represent around 90% of all firms globally, provide roughly 70% of all employment and, by some estimates, contribute to up to 70% of global GDP. At an aggregate level, these businesses play a significant role in enabling, constraining and shaping the nature of growth, innovation and sustainability in our global, regional and local economies.
This report uncovers the set of organizational capabilities and orientations needed for SMEs to become future ready. It also highlights a series of best practices from SMEs leading the way in terms of future readiness. The paper builds on an in-depth analysis of more than 200 peer-reviewed articles and the engagement of more than 300 chief executive officers and founders of SMEs.