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Open innovation a top priority for SMEs

Innovation has been internationally quoted as one of the key drivers in business success for companies suffering the delayed effect of the global financial crisis, says IQ Business.

Willie Krause from IQ Business, says that innovation is especially relevant for small-to-medium sized enterprises (SMEs) in South Africa.

“Given that approximately 80 percent of the formal business sector in South Africa can be classified as SMEs or micro enterprises, it’s critical to the economic health of our country to identify processes such as open innovation to support these operations,” he says.

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