The importance of SME Economic Growth on Employment

I had the opportunity to attend the Minister of Qld Department of Aboriginal and Torres Strait Islander and Multicultural Affairs (DATSIMA) NAIDOC week Industry Reception last night.  The Minister took the opportunity to share his Department's Aboriginal and Torres Strait Islander Economic Participation Action Plan, his speech was focused on improving the employment rates for Indigenous Queenslanders through businesses being encouraged to employ staff.

If there is minimal economic growth then the ability for businesses to employ staff becomes a challenge. Currently, the small and medium enterprise (SME) sector is experiencing various challenges at all lifecycle stages from establishment to growth within the marketplace.

There needs to be a increased focus on Indigenous SME sector growth that will flow onto an increased employment footprint. You hit two birds with one stone, the business owner becomes self employed and when required recruits and retains team members - win/win.

Without a wholistic economic development strategy that encompasses equally economic growth and employment against a backdrop of appropriate stakeholder engagement, it will be hard to maintain sustainability of the strategy and achieve maximum positive outcomes.

Tagai Management Consultants have the capability and strategic alliances to ensure all boxes are ticked when developing and establishing a realistic, results driven approach to your business and/or organisation economic strategy.