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Small Medium And Micro Enterprises Essay

1200 Words5 Pages

We live in uncertain times. In a world that needs change, progress and above all, sustainability for all its inhabitants. We have many problems but the biggest issues revolve around poverty and unemployment, especially on the African continent. So how do we address this issue? The answer to this may lie on how we can use information and communication technologies (ICT’s) to empower and grow small, medium and micro enterprises (SMME’s) around Africa. This essay will discuss the way in which SMME’s can capitalize on ICT’s and it will also confront the challenges that come with this. After all, we are living in the exciting and ever expanding era of technology.

Small, medium and micro enterprises comprise of a variety of firms, companies and small businesses including family businesses that make an annual turnover of about 5 million Rand. They can have up to 100 employees (medium enterprises) or even 1 self employed individual generally found in informal micro enterprises sector. SMME’s should however, not be confused with SME’s. SME’s refer to small medium enterprises which have an annual turnover of anything between 5 and 35 million Rand (newdiscovery 2012). Now we will look at what ICT’s …show more content…

We are only touching on its potential as the key to long term economic sustainability by supporting and empowering SMME’s in Africa and around the world. With further research and technological development, the defects that come with ICT and SMME integration will slowly decrease until eventually everyone will have the resources and information required to create an environment where business owners thrive, thus drastically changing the current economic state. In the passed it was said that money made the world go round. Today it is Information and communication technology that makes the world go

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