Nearly 90% of companies in both developed and developing nations are Small-Medium Enterprises (SMEs). African SMEs are the economic engine that has the power to transform the continent through sustained economic growth; they account for roughly 60% of the continent’s GDP.
Unmatched worldwide, the potential for cross-border trade offers prospects for expansion and durability. The largest obstacles to achieving this potential and profiting from the development of economic success, however, are the lack of centralized, pertinent, and easily accessible information for businesses that can interact with and establish their own trade community, learn from experiences and obstacles, exchange best practices, and expand trade within and between Africa and the rest of the world.
Why SMEs find it difficult to access information for bussiness and trading?
Finding funding is often one of the biggest challenges business owners face. This is often due to a lack of experience or limited understanding of financial forecasting. Before providing you with finance, investors will expect to see evidence that you understand how you’ll reach customers and make money
Despite this, as any starter in the field of bussiness, new entrepreneurs often lack the customer base, social media following and valuable contacts that more established business owners enjoy. As a result, launching a crowdfunding campaign or making connections with investors can be a challenge.
But there are several ways to overcome the problem and secure investment in your new venture. With a preferred community and information hub for small and medium-sized enterprises (SMEs) seeking to expand internationally; a reliable and reputable network and possible source of information and insights that links industry and decision-makers.
How to do it?
Private sectors, governments and the development community have been the take all competitors when it’s comes to being funded and they all agree as to its potential as a game changer for the African economy. However it is through efficient inclusion and participation of SMEs that is can truly transform the continent.
JamiiTrade will reach this goal, by building a community of African SMEs who all share a common goal: to learn, to support each other, share stories, and to help each other – and our continent – grow!
With an obligation to convene a trade community. It’s an SMEs’ trade community where challenges, experiences and best practice of cross border trade is shared, and a body of knowledge and information is built to provide data that can influence policy change, create new markets and provide new opportunities for the African SMEs.