Do you believe that SMEs (Small and Medium Enterprises) are the future of the gl

  1. Gaurav Oberoi profile image80
    Gaurav Oberoiposted 2 years ago

    Do you believe that SMEs (Small and Medium Enterprises) are the future of the global economy?

  2. lions44 profile image99
    lions44posted 2 years ago

    Maybe online, but not in the brick and mortar business world.  As the developing world grows into first economy status, the same old fights between the big companies and the little guys will continue. Some industries are hurt more than others.
    I hear this a lot: small business (or those under a 1,000 employees) are the future. This great comeback of cottage industries is the new hot thing. But I don't see it. Look at our major cities. Take my hometown of New York. It's gentrifcation central. All of the independently owned diniers and other restautrants are closing. Small boutiques are shutting down too, mostly driven by internet sales but regulation and high real estate cost is a part of it. Chains are replacing everything. Even "indpendent" restaurants owned by well-known chefs/celebrity chefs are really part of LLCs or are just 1 property of several owned by that person.  The startup brew pubs and other "craft" shops are well funded by wealthy individuals.  The small grocery stores are still disappearing despite the concept of the urban village.  Manufacturing is virtually impossible on a smaller scale, especially in a major city.
    My new home area of Seattle is the same way. it's a corporate town run by chains despite its determination to be independent and offbeat. Amazon, Microsoft, Boeing, Paul Allen's Vulcan Properties and Costco are the major players.  They may talk a good game about keeping small suppliers in business but will eventually swallow them up as well.  Just to save the Pike Place Market took years because developers want that space.
    The fight for the small retailer online will always go on.  If I can use an old term, it's a battle for bandwidth.