To develop our economies and allow the small business sector to achieve its maximum potential, it is imperative we invest in human capital. It is estimated that 97% of Irish businesses are Small and Medium-sized Enterprises (SMEs), with over 95% having fewer than 50 employees. We can therefore agree that the qualification and skill mix of the Irish workforce must match the changing needs of industry and the economy. Training has been proven to improve employee productivity and quality of work, thus making individuals and indeed their organisation more competitive. Consequently, it is essential that there is a continuous wealth of knowledge in our organisations. Providing a clear picture of the current state of training and education in our SME and micro-enterprise workforce is a challenging task. This latter group, micro-enterprises, often follows a different set of paths in terms of employment, education, training and upskilling. In addition, presenting a clear set of requirements for "next generation employability" is not just a challenge but also a necessity for organisations who want to stay in business. Against this background, this article attempts to make an important contribution towards identifying the skills and competencies that tomorrow's SME employers expect from graduates, while presenting research findings from the Programme for University Industry Interface [PUII, 2007, http://www.ul.ie/-puii/ (accessed 12 March 2007)], which addresses the upskilling requirements of individuals employed in the manufacturing and ICT sectors in Ireland.