SMEs losing out

All major companies, across verticals, now have one or more IT applications helping them build a virtual Web of their branches and employees, Business Line reports.

Of late, though, even large companies with deep pockets are scouting around for ways to cut tech deployment costs while maintaining functionality, as well as zooming in on options such as software-as-a-service and cloud computing.

But small and medium-size enterprises (SMEs), which face no less competition from global companies, are not that lucky. Either they are not aware, or they cannot afford most solutions and applications. In either case, they are losing out.

Approving the Kingdom's Ninth Development Plan, the Shoura Council of Saudi Arabia recommended an independent authority for SMEs in the light of their importance in economic development, writes Arab News.

The council's 41st regular session held under the chairmanship of its vice-chairman Abdul Rahman Al-Barrak stressed that such a body should have a legal status and should function under the aegis of the Supreme Economic Council.

“The house approved the Ninth Development Plan following the opinions submitted by the Committee on Economic Affairs and Energy of the council,” said Shoura Council secretary-general, Muhammad Al-Ghamdi. He added the members agreed to recommend an authority for SMEs.

The private sector will save the day: that, stripped down, is the government's hope when it comes to maintaining employment levels in the wake of severe budget cuts, according to Herald Scotland.

The treasury estimates that while up to 1.3 million jobs will be lost in the public sector and associated industries by 2015, the private sector will create 2.5 million new ones.

That rosy prediction has been greeted with scepticism by some economists and trade unionists, and looks shakier still in the light of news that Scottish small businesses are still struggling to obtain affordable credit.