What about a Ministry of Small and Medium-sized Enterprises (SMEs)?
SMEs play an essential role in the growth of the economy in Chile; they generate more than 50% of jobs and contribute almost 20% of GDP. In the United States, a little less than 50% of workers belong to small businesses, but the contribution is greater than 40% of GDP. Thought-provoking.
The solution to establishing a more robust development system for SMEs is to promote a “stimulating environment”. So why not create a Ministry of SMEs? An institution that has a permanent willingness to support, that looks at its progress in an integral way and systematizes a regulatory framework to promote good practices and labor and tax incentives; in addition to the creation of a financial fund that invests in them, with economic and long-term criteria.
The State, whether we like it or not, is a “privileged” passive partner of all companies, because it participates in the profits, but it does not provide capital or provide solidarity promptly when there are losses.
Within this framework, it should be a more active partner, injecting capital and participating in the development of SMEs. If we want a competitive and more productive market, we must invest in the development of more and better companies.