Cutting productivity gap crucial to small firms’ success

The UN International Trade Centre’s Executive Director Arancha Gonzales highlighted the productivity gap between small and medium-sized firms in poorer and richer countries. Photo: UN / Laura Puigvert Alia

Smaller companies need to change the way they work, particularly in poorer countries, to ensure that employees aren't left behind by future economic gains, UN experts said Wednesday.

Pointing to a large productivity gap between small and medium enterprises (SMEs) and bigger companies, the International Trade Centre (ITC) says numerous obstacles stand in the way of their growth.

These issues need to be resolved quickly, ITC believes, since small firms employ up to 70 per cent of the world's workforce and account for 95 per cent of all companies.

Here's Daniel Johnson's report from Geneva.

Duration: 2'28"

 

 

 

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