Don't Get Stuck in SME Mode - Africa needs Growth
Dr. Helen Emore
Director & Board-Level Business Analyst | Venture Builder | 20+years Global Experience | Developing Women & Youth Entrepreneurship | MD, Scientia Partners Innovation Hub | Adjunct, Pan Atlantic University
Don't get stuck in SME mode!
The only way up is to climb. We need to take Africa's economy up. That mean individual nations have to do more.
For nations to do more, individuals and groups have to do more.
It's not going to be easy, don't believe the glamorous facade painted on social media about entrepreneurship.
Entrepreneurship is hard and gruelling work, but if you have the right solution, team and ecosystem, you can pull through.
It's not a short journey either, it's a marathon where wvery milestone you hit counts.
The Economist says Africa is getting only 1% of private equity. That means we can do more.
But we have to create the solutions and platforms and it won't be easy.
Read Deuteronomy 11 verse 10- 15. There's work to do, we have to sharpen our axes and hit the road.
Will you start building a big thing today?
(To be continued)
Scientia Partners
Director, Freight Forwarding & Customs Affairs, Entrepreneurship
1 个月Each country defines SMEs based on specific criteria such as the size of employees and turnover. However, transitioning beyond the Small business category requires more than just meeting these benchmarks—it is fundamentally a mindset shift. Growth must be intentional, driven by clear goals, a commitment to innovation, and a willingness to take calculated risks. By adopting this proactive approach, SMEs can position themselves to scale sustainably and compete effectively in larger markets.
FNIMN, Author, Consultant & e.book store
1 个月Thanks
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1 个月Nice write up Dr. Helen Emore . Indeed, it is important that businesses understands what identifies them as being in "SME Mode" and the features of businesses that have exited that mode. That way they can start to dig their way out of the mode.
FNIMN, Author, Consultant & e.book store
1 个月Growing business from small beginning starts with a "master plan"; followed by investment scaling and axis of growth, advancement or modernization I.e Dagnote investments master plans for cement, refining, tomato processing etc. Next you consider business support or affiliates that galvanises. Common in America as investment peers and group I.e Microsoft and apples etc. Integrated investment units that facilitates business may be to expensive for one company, so subsidiary options is it I.e verve in the banking industry; until you optimize master plan. In Nigeria and Africa, we prefer to go solo. No, support industries is the way to go and grow. Read more from this my new book. Africa businesses grow better and faster by being self made, self supporting, self financing upto 75% etc with limited importation. Find out how well local fabrication is under patronised etc, etc in Nigeria compared to Germany and the western world. Another example is ABA garment industry through affiliate specialist companies. Germany promotes this as special industrial estate for transformation industries akin to transformation calculus. https://selar.co/33711i
Director at Holland Circular Hotspot
1 个月Holland Circular Hotspot European Circular Economy Stakeholder Platform