The primary reason for the existence of the Swabi Chamber of Commerce and Industry is to create a collaborative platform to steer policy by advocating the private sector’s agenda. However, the ambit of activities being a Trade Organization for us to perform has widened. Now, to ensure financial sustainability and retain the memberships, we perform research and development, take active steps in facilitating technological adoption, and contribute to improving the overall business environment by providing ADR mechanisms and protecting intellectual property rights.
In this context the collaborative role of the research academia, allied institutions, and cooperation from the associated industries the necessity of time to understand the changing dynamics of trade and commerce in the era of the 4.0 Industrial revolution.
Creativity and Innovation are in direct relation to your mind. The extractions of an idea from one’s mind came into the implementation stage with advancement people like it and are ready to invest in it. The first three industrial revolutions belong to Steam Engines, Electricity, and Computers. That’s the short story of the development of the modern economic system. The complete story of this vibrant financial world with is incomplete without the contribution and success stories of micro –small and medium-sized enterprises.
We cannot eliminate the mandatory role of academia-industry linkage in micro –small and medium-sized enterprises development. Because industry always needs efficiency in their production assembly line to improve their productivity and to minimize unnecessary costs to maximize profits. The new young brans from research academia can it. The high–tech nations always give value to their Research and Development.
The idea of national economic development through cottage and SME development without academia-industry effective linkage is incomplete. The importance of micro-business enterprises is very clear. That’s allegedly helping the large-scale industries and SMEs are the main contributors and stakeholders of an economic system. They are providing the facilitation in the provision of economic substance to these industries. There are about 3.2 million SMEs operating in Pakistan. The exports of light engineering and high-tech industries are highly dependable on the contributions and performance of micro –small and medium-sized enterprises. SMEs account for almost 90 percent of private-sector or general public-owned enterprises. Their contribution is about 40 percent of the GDP. They are the biggest source of employment generation in the country. In the current scenario, micro –and medium-sized enterprises are generating 80 percent employment. That is 4 out of 5 jobs.
We generally put over-attention to the large manufacturing industries and their spending. But it’s true their development is linked with the efforts and contributions of the cottage sector or medium enterprises. They are the main contributors of rough and semi-finished products to large-scale manufacturing enterprises. Nowadays every economic system is in search of efficiency in production. Their mandatory requirement is to access the ultimate resources in the meantime line to complete their production cycles as efficiently. This industrial research is always attractive to young researchers and economists.
Research and Development is the pivotal part of the activities of the Swabi Chamber of Commerce and Industry, it’s our primary priority is to provide ease of doing business and facilitation to the business community and to promote trade, commerce, and industrialization activities to strengthen the Economic contribution of district Swabi in the overall national economy and GDP.