SMEs key to Africa’s economic growth
Africa’s small business sector has the potential to grow the continent’s economies, create jobs and attract the much needed investment.
A series of activities over the past couple of years have played a part in the pumping up of the Africa Risingstory.
One such development is the May 2014 forum at Gallagher Convention Centre, for the first international trade conference designed specifically for small and medium enterprises.
At this forum, Africa’s brightest and most promising gathered to pave a way for the future of SMEs on the continent and what could be done to create a thriving small business sector.
As correctly analysed then, the National Small Business Chamber (NSBC) of South Africa as organisers, had embarked on a new journey, not only for South Africa, but for the rest of the African continent.
The success of the conference also ensured that international trade for the small business sector would become a big drive for the continent’s development on the road ahead.
Themed Trading Across Borders, this trade conference attracted more than 1000 delegates from all over South Africa as well as Nigeria, Ghana, Kenya and Tanzania.
According to the organisers, these delegates were primarily seasoned SME decision makers who attended this all important forum for the purpose of getting to know more about accessing new markets and growing and competing in the global arena.
Another notable milestone was the launch of Build a Business in Afrika initiative, now a global leader in small business and entrepreneurial development and also the official ambassador of NSBC in South Africa and throughout the African continent.
The main outcomes of the conference included the question of extension into Africa, with the following focus points: exposing South African SMEs to international trade experts; linking SA’s SMEs to funding and support; showing the country’s SMEs how to expand their global customer base.
Others included helping SMEs establish contacts with foreign partners; inviting SMEs to ongoing international trade forums; helping SMEs get to know the African economy; providing local SMEs with ongoing education on global trading.
A point of strength for the SMEs in Africa is that there is now a united voice and international trade is the key to growth and competitiveness, the key driver for small and medium enterprises around the world.
“If you are serious about expanding and boosting your top line, follow our educational journey and seize the opportunity to take your business into the lucrative global arena,” was a stated at the conference.
Remarking further on Build A Business in Afrika, the SME forum said: “If you’re looking to start out or grow your business and expand internationally, then this is an unmissable opportunity for you too.
Get exposed to unique and amazing opportunities; receive daily success tips and inspiration; network and gain information or assistance in exporting your products or setting up overseas operations.
To confirm the success of the 2014 forum, last year thousands of business people gathered at the Cape Town International Convention Centre as part of the follow up to that masterpiece vision at Gallagher.
This was a celebration of another season in SA of My Business Expo, now incorporating Business Start-Up Expo Access to Finance Expo, Small Biz Techno Expo, My Business Seminars and the world-famous Buzz Party, The Franchise Show and Build a Business Live programme.
With more than 27000 visitors, 500 exhibitors and sponsors, and top of the line seminars, many participants still refer to this as the most successful show of its kind in the region.
One thing is clear though, there is new energy for the development of small business and entrepreneurship in South Africa and the rest of the continent.
And if the small business and entrepreneurship community can be dedicated to the success of small business in South Africa and Africa, it will be a big role in growing, teaching and learning, networking, connecting,and inspiring many more entrepreneurs.
African governments would do well to join forces with these initiatives for economic growth purposes.
More recently, a workshop on the plan of action of the Accelerated Industrial Development in Africa, which kicked off in October last year, in Nairobi, Kenya, was another opportunity to leverage the African SME sector.
Organised by the African Union Commission and its Department of Trade and Industry the workshop brought together relevant practitioners with experience and influence in the SME sector, to learn from the challenges they face and their achievements in supporting SME development.
Thandisizwe Mgudlwa
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