‘SMEs part of Germany’s success secret’
on JUNE 17, 2013 · in FINANCE

By EBELE ORAKPO

…provides about 70% of jobs
Small and Medium Enterprises (SMEs) have been put forward as part of the secrets of Germany’s success. The German Ambassador to Nigeria, Her Excellency, Frau Dorothee Janetze-Wenzel, made this known while delivering a lecture at the recent international colloquium organised by the Faculty of Arts, University of Nigeria Nsukka.

She said although Germany is not endowed with remarkable natural resources, it is the largest economy in the European Union and the fourth largest in the world with a Gross Domestic Product of US$3,342 billion due mostly to education/research.

“German research institutions and private enterprises are investing billions of Euro into research (almost three billion euros).

As a result, Germany is the leading European country when it comes to patent registration. “Important sectors in the German economy are automobile construction, mechanical and electrical engineering, chemicals, environmental technology and nano technology.

“One of the secrets of the German success is the fact that alongside international companies, small and medium-sized enterprises (SMEs) are the backbone of the economy and provide roughly 70 per cent of the jobs,” she said.

Quoting German’s Federal Foreign Minister, Guido Westerwelle, the Ambassador said that Germany’s resources “do not lie underneath our feet but between our ears. The most important resources in times of globalisation are education and research.

“We have the chance and the responsibility to promote and to employ education and research well,” she said even as she noted that another thing Germany has going for her is the fact that the average German loves his/her job and so is able to put in his/her best.

Quoting German’s Federal Foreign Minister, Guido Westerwelle, the Ambassador said that Germany’s resources “do not lie underneath our feet but between our ears. The most important resources in times of globalisation are education and research.

Ngwakwe: This should be a great lesson for Greece, Spain, Italy, Cyprus and Northern Ireland.

As for Nigeria, our politician told us to exercise some patience, that they are still learning after 14 years of our new republic.

The NASS has nothing to offer in terms of economic development proposals and passing enabling laws to protect micro economic developments from fraudsters. The judiciary are still acquitting criminals while the Executive has lost the actual formula that is indigenous to Nigerian Climate.

School no be books.

Emmy9ite: Don't put all the blame on our leaders, the youths are also to be blamed. Everyone is looking for a white collar job even when it's so obvious that the labour market is filled to the brim. Even if our leaders start businesses for our youths, 80% will crumble in less than 2 years. Our youths need a change in mindset before anything else.