Embrace ICTs, ZimTrade tells SMEs

Business Reporter
SMALL to medium enterprises (SMEs) should embrace information and communication technologies if they are to effectively compete with their formal sector counterparts, ZimTrade has said. ICT is an umbrella term that includes any communication device or application, encompassing: radio, television, cellular phones, computer and network hardware and software as well as satellite systems.

ZimTrade noted that global trade growth had been influenced by many trends with technological change standing out.

“The global trade arena has experienced a phenomenal shift as a result of Information and Communication Technologies (ICTs). SMEs the world over are being equipped with skills to fully adopt ICTs to advance their exports. According to the International Trade Centre (ITC), one of the pillars of SME competitiveness is ‘connect’ – having access to and being able to use the internet and other ICTs for business.

“Technology enables companies to tap into much larger international markets and to source raw materials from a broader range of suppliers. It has helped in reducing communication costs as businesses can now conveniently identify markets, communicate with buyers/suppliers and make online payments,” reads part of the newsletter.

ZimTrade said the European Commission indicated that the use of ICT was a critical factor for success in innovation, competitiveness and growth.

Seminars conducted for SMEs in the recent past that include the formalisation workshop and the Bulawayo Leather Cluster awareness seminar carried the recurring message of adopting ICTs to grow their businesses.

“Local companies should fully utilise the online Market Analysis Tools available on the Zimbabwe-EU Business Information Centre (Zim-EBIC), which is accessible from the ZimTrade website,” said ZimTrade.

“ZimTrade conducts free coaching and demonstrations on how companies can navigate these tools to ensure that they can fully explore identified market opportunities.”

SMEs across the globe have incorporated ICTs into their business in different ways. In Zimbabwe individuals are now paying their bills through mobile money platforms.