The challenges of SMEs for this 2023

Mr. Director,
It is no mystery that this 2023 will be a complex year for the country’s economy, and as usual in contraction cycles, the businesses that have the highest level of risk are the smallest.
For this reason, they are good signs on the part of the Government when from the Ministry of Economy they point out that one of the focuses of their management of this 2023 will be to support SMEs.
However, it is also important to keep in mind that most entrepreneurs do not know how to use the tools provided by the State, despite qualifying within the requirements, so dissemination and support in access to these benefits is vital to generate a real impact.
Also, from the point of view of the business itself, this will be a year where the financial order will be key, so it is relevant that entrepreneurs focus their products or services, putting efforts on those who have greater return for their cash, perhaps doing less things well done.
And if the targeting does not give results either, it is important to know how to recognize in time when the initial idea has no future, so a good advice is always to be open to reinvent yourself.
Another of the great challenges is to shorten knowledge and management gaps, where one of the central elements – at a transversal level – is to advance in digitalization, to achieve an operating model that is efficient and effective.
Finally, and no less transcendental, Chilean entrepreneurs must understand that they make up a true community, and working in a network will allow them to exchange experiences, detect opportunities and be infected with good ideas, passion and perseverance to enhance their businesses.
Horacio Pavez
President of ChileConverge

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Original source in Spanish