Why corporate giants need to champion SME skills development in South Africa

THOUGH the buzzwords “job creation” and “economic growth” often dominate boardroom discussions, it is the humble Small and Medium Enterprises (SMEs) that truly bring these concepts to life.

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SMEs are the ones taking risks, hiring locally and revitalising our markets.

Yet, they are the ones struggling, particularly in accessing the skills they desperately need.

The growth potential is clear - SMEs do not simply fill gaps in the market, they create new ones.

They innovate and they adapt with a nimbleness that bigger entities lack but this potential is often choked by a lack of resources, especially in upskilling their workforce. It is unrealistic to expect SMEs to compete on a global scale, if they're perpetually battling to stay afloat due to a skills deficit.

Corporate self-interest - strengthening the supply chain

SMES

Many SMEs lack the financial resources to invest in training that would improve the quality of their products or services. By providing financial and resource support, corporates can bridge this gap and enable SMEs to develop the skills needed to meet industry standards.

To put it bluntly, this is a prime opportunity for corporates to provide real support for SMEs by funding training programmes that enhance their capabilities.