G20 = new G8 as economic power & influence shifts to the Pacific.

200909252121.jpgChina and India are to play a bigger role on the economic world-stage. This development has been under way for a few decades now and this recession has accelerated the trend. This shift is certainly well deserved and needed, as it will help global dialog about global issues. But what does this mean for small business in Europe?

The BBC cites a White House Statement announcing a new role for the G20:

“The G20 leaders reached a historic agreement to put the G20 at the centre of their efforts to work together to build a durable recovery while avoiding the financial fragilities that led to the crisis,” it said. “Today, leaders endorsed the G20 as the premier forum for their international economic cooperation.”

This move represents a clear sign that economic power and influence is moving from the Atlantic to the Pacific, and the disunited Europe is likely to lose out. This going to have an impact on the economic future of Europe’s small business community. The time has come for Europeans to understand our joint interests and for our politicians to finally act in all our interests.

Small business needs access to these emerging economies in the same fashion bigger business is being given access. If this access is not provided we will find one day that all these multinationals have decided to leave good old Europe behind and move to new shores.

SMEs on the other hand will always maintain their national identity and their positive impact for local national economies. This will be the source of jobs and national wealth in all our futures.

I hope our politicians can finally overcome their inability to understand SMEs of all sizes, all our futures depend on it. Time for indecision and failed small business policies is over.

Read more about the G20 summit on the BBC.

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