Small, medium business key: Obama

| November 14, 2011



The importance of small and medium sized business was emphasised by United State President Barack Obama at the first session of Asia-Pacific Economic Cooperation (APEC).

Obama told the APEC Leaders Meeting in Hawaii small and medium businesses were high on the agenda for the talks.


“We have agreed to address a set of next-generation trade issues, including removing frictions in the global supply chains, helping small and medium-size enterprises grow and better plug into the global trading system, and adopting smart, market-oriented innovation policies,” he said.

Obama noted the importance of innovation for the APEC member nations.

“Innovation is especially critical to all of us, and we all want to take appropriate steps to encourage it, because without it we can’t grow, become more productive or create enough jobs.”

Obama said it was time to get down to work and he was confident that the leaders could make significant progress.

“Our 21 economies – our nearly 3 billion citizens are looking to us to bring our economies closer, to increase exports, to expand trade and opportunity that creates jobs and economic growth. That’s why we’re here,” Obama said.

APEC Economic Leaders’ Meeting was held in Honolulu on 12 and 13 November 2011. President Obama chose his birthplace of Honolulu as the location of the meeting to highlight America’s position as a Pacific nation.

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Helen Hull

Helen Hull is the editor of First 5000, the leading network for mid-sized businesses in Australia.

2 Comments

  1. Connie Comber

    November 15, 2011 at 10:23 pm

    Agreed. It’s so important
    Agreed. It’s so important that SME businesses get the proper acknowledgment of their place in our economies – so Obama’s emphasis is timely and hopefully will boost the same emphasis in our political scene. The SME sector is the essential fabric of our employment, communities and livelihoods in this country – not only should this be highlighted far more but celebrated. We have some amazing stories of achievement out there in ‘owner-land’ and so few of them get told.

  2. Laurence Strano

    November 14, 2011 at 10:39 pm

    The President has identified
    The President has identified correctly the importance of SMEs as they are the cornerstone for employment.Everyone wants economic growth which can only come with employment.We should not however underrate the growing importance of online marketing in this endeavour as it has the capacity to move economic growth extremely quickly.It is the speed of turnaround now which is vital to the world economies.