The Kenya Association of Manufacturers with the intention of helping Small and Medium Enterprises has launched the Business Growth Program. The program will help SMEs by providing access to markets, support in advocacy for nurturing environment and capacity building strategies.
Ms. Flora Mutahi said that SMEs are an untapped economic resource. The Business Growth Program encourages preparation for growth, diversification and expansion of businesses through comprehensive strategy and planning.
“SMEs are the backbone of the Kenyan Economy and they are expected to play a prominent role in job creation. Yet out of 7.4 million SMEs in the country only 1.6 million are licensed. Formalization of businesses by SMEs in this country is a daunting task because the systems are not accommodating and may even seem punitive. We must correct this!”
The program will help these enterprises with the required management system and processes to secure and thrive in the market. Participant will be helped in developing business growth strategies. The program will have a total of seven modules among them market design and strategic supply chain management, Product design & development and Good manufacturing practices.
SMEs face a higher cost of capital than larger firms and have more credit rationing because they lack collaterals. The Kenya Association of Manufacturers (KAM) supports the government’s efforts to create SMEs friendly policies; they will therefore facilitate and support SMEs with specific sector issues.
She also stated that SMEs are so prominent in job creation yet their formalization process, power outages, high crime rates and lack of water limit the success of these businesses.
Partnering in this program, Ms.Waturi Matu the business Director of Trademark East Africa assured the government that they would support any of its efforts to make the SME sector better. The Business Growth Program is aimed at making the SME sector more vibrant by making it easy for them to access markets.
Want to find out more? Or join the Kenya Association of Manufacturers? Visit their website.
