admin“We project that alongside foreign direct investment, SMEs will drive the growth and development of this economy in the foreseeable future but the challenge is now for the SME community to respond by raising their business management standards, including accounting and governance practices.
“There is also a need for financial institutions to create a favourable environment to allow small businesses to access funds to run their operations,” she said.
She said there was a need to come up with platforms like seminars and other various educational forums to help SMEs in running their businesses.
“Most SMEs lack proper management and professionalism hence they crumble and disappear easily.
“They should raise their business management standards, including accounting and governance practices, in order to access capital from various financial Institutions.”
Concerning the issue of SMEs development, the Indian Government donated some Print Circuit Board (PCB) machines three years ago under the Indo-Zimbabwe programme for the benefit of growing businesses but they are yet to be fully utilised.
The machines can make from a needle to any big parts like popcorn machines, cell phones, carpentry machines and many others.
At the end of last year, the machines which are at Bulawayo Polytechnic were being used by students from the college and the National University of Science and Technology because SMEs were yet to get training on how to use them.
Online Reporter