Give legislative, financial support to SMEs: Govt urged

the Government and other stakeholders to learn from initiatives undertaken by India.
The workshop that was conducted by the Indian government through HMT International undertook training in the fields of general management for SMEs, financial aspects of SMEs, marketing of SME products, entrepreneurship development and personnel as part of the ongoing Indo-Zim project courtesy of the government of India, through HMT International.

In a speech read on her behalf, Small to Medium Enterprises and Co-operative Development Minister Sithembiso Nyoni said the project was set up to create an enabling environment that promotes vibrant micro, small and medium enterprises.
“The project was set up to create an enabling environment that promotes vibrant micro, small and medium enterprises and co-operative development through provision of state of the art machinery and necessary support services which includes the workshop we are attending today.

“The development of SMEs is being acknowledged as a key condition in promoting equitable and sustainable economic development,” she said.
The minister added that because of their economic weight, SMEs have a crucial role to play in stimulating growth, generating employment, contributing to poverty alleviation and creating social cohesion. Delegates urged SMEs to form clusters and co-operatives in order to raise funds for working capital.

Government and relevant stakeholders were also urged to support SMEs financially and through supportive legislation and policies.

The major objectives of the workshop were to upgrade SMEs through the provision of modern equipment, impart training to Zimbabwean youths, SMEs, co-operatives and local industry in different sectors, support local industry by manufacturing various components and provide consultancy to SMEs in various technical fields.

Minister Nyoni added that big businesses for years have enjoyed much support from the Government, financiers and other stakeholders and this situation is, however, changing quickly and focus is shifting towards small business development.