NAIROBI: Kenya’s small and medium enterprises (SMEs) stand to benefit from logistical and information support, following the launch of a portal to help bridge the information gaps that exist among entrepreneurs.
This comes following the launch of Biz4Afrika, an online resource developed by technology giant Microsoft that is targeted at African SMEs.
The launch of the portal is the latest in a spate of recent efforts by both the Government and private sector to help grow Kenya’s start-up communities.
Speaking at the unveiling of Biz4Africa at the Connected East Africa Summit held earlier this month in Kwale County, Microsoft Country Manager Kunle Awosika said the portal was developed to provide a one-stop-shop for African SMEs to get crucial business advice for free.
“Entrepreneurs in this region are hungry to create solutions. They are building businesses and paying taxes and they need to be supported in their entrepreneurial journey, and that is what Biz4Afrika is setting out to achieve,” Mr Awosika said.
KNOWLEDGE ECONOMY
Entrepreneurs are required to sign up to access blog posts and podcasts covering various topics, including how to create appropriate logos and make impactful business cards.
“We have already been cited by Harvard University as having surpassed the tipping point from primarily exporting raw materials to creating and exporting value-added goods and services,” said Awosika.
“The continued shift from a labour-based economy to a knowledge economy will require increased online presence, particularly by SMEs who contribute about 45 per cent of Kenya’s GDP.”
Due to various challenges, a majority of the country’s SMEs shut down within the first year. Business leaders have often stated that start-ups, particularly those looking to provide technology services, fail to get the required traction because of inadequate market research.
Software developers, in particular, are losing lucrative opportunities for funding because they lack clear business plans and strategies to take their ideas to market.
Further, according to a private equity confidence survey released last year, Kenya’s tech industry is losing ground to Nigeria and South Africa in terms of getting deals and early-stage start-up capital because of lack of information among start-up leaders.
“The Biz4Afrika.co.ke online hub aims to meet the needs of every SME at three entry points — the start, growth and acceleration phases — by aggregating relevant online services, complemented by valuable information, resources and learnings,” said Awosika.
The free portal also provides networking opportunities for firms offering complementary products or services, as well as access to real-time advice from industry leaders.
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