Four mistakes SMEs make in planning for next generation leader

FOR many SMEs, planning for future leadership is still a new idea - too often, planning for the next generation leader is considered premature, falling among other non-immediate concerns.

A recent study by American Express revealed that 87 per cent of local SMEs consider their day-to-day operations to be more important than mapping out a long-term business strategy.

While the business needs of SMEs may differ vastly from those of larger businesses, one thing remains - no organisation can grow without great leadership.