SME's - a solution for Africa
SME's - a solution for Africa
Therein lies the solution. Africa has very few entrepreneurs, and this is not the place to discuss the why. However, they can still create wealth, through the use of compliance models such as franchising.
Africa's future lies in franchising, both internationally and locally developed. Compliance models create bankable SME's. Bankable SME's create opportunities for wealth creation. Compliance models result in major risk mitigation.
Rob Smorfitt
SMEs a solution for Africa - To learn more about this author, visit Dr. Rob Smorfitt's Website.
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I wrote previously on the difference between entrepreneurs and small business managers who own their own business or franchise. The franchisor in a successful franchise concept runs the marketing and strategy, and thereby keeps it on track. As a consequence banks are always prepared to fund these enterprises. This is critically important as one of the largest contributory factors to SME failure is insufficient working capital. Yes, they are terribly undercapitalised.
Therein lies the solution. Africa has very few entrepreneurs, and this is not the place to discuss the why. However, they can still create wealth, through the use of compliance models such as franchising.
Africa's future lies in franchising, both internationally and locally developed. Compliance models create bankable SME's. Bankable SME's create opportunities for wealth creation. Compliance models result in major risk mitigation.
Rob Smorfitt
SMEs a solution for Africa - To learn more about this author, visit Dr. Rob Smorfitt's Website.
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 Restricted Access to Finance
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| Africa’s SMEs have little access to finance, which thus
hampers their emergence and eventual growth. Their
main sources of capital are their retained earnings and
informal savings and loan associations (tontines)... |
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SMEs - surviving the recession in Africa
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| How can SMEs survive the recession in the African context |
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Expanding the supply of finance through the non-financial private sector - Increasing SME Access to Finance: A Four Pronged Approach
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| Financial institutions are not the only source of money for
SMEs. Apart from remittances by nationals working abroad,
which are a key boost to private-sector growth, the interdependence
between SMEs, large firms ... |
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Facts about SMEs in Africa
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| Very few countries have working definitions of SMEs, except some members of UEMOA/WAEMU and Mauritius and
Morocco. So data on this is hard to compare, though patterns can be seen and countries can be ranked by exte... |
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Helping SMEs meet the requirements of formal financing - Increasing SME Access to Finance: A Four Pronged Approach
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| Apart from the need to boost SME capacities, some financial
instruments can help provide missing information or reduce
the risk stemming from some SMEs’ lack of transparency. |
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