You have a much better shot at success if you work with others; that is why lions hunt in teams!
With Chester Dimairho
I am writing this article with a lot of anticipation for the 10th SMEs’ Expo whose theme for this year is “Sustainable Production for Economic Growth in Africa during and post Covid-19”. I hope you have already registered for the Expo and sponsored it to have a booth there. If not, please attend to it as soon as possible. Lions are the kings of the jungle and by far the biggest predators. But they do not go it alone if you like. They hunt in teams and no prey easily gets out of their grip. I have watched documentaries where a “lone ranger” repeatedly failed to hunt. This should also apply to your business. Place yourself in circles where you can collaborate with others to achieve your objectives. Our schooling system conditions people’s minds that you should go it alone and compete against others, but that does not work in the real world. So, this Expo is a wonderful platform for you to find allies!!! Now to our theme…What has been done so far to sustain production in our country? Our government, through the Ministry of Youth, Sport, Arts and Recreation disbursed grants of ZWL$5,000 to youths who had formal businesses and had been affected by the pandemic earlier on this year. It is very sad that a lot of youths failed to access this funding because their businesses were not formal. In a way, the government came up with a short-term strategy to keep SMEs afloat. However, the long-term is way more important than the short-term. Contemporary wisdom says the windscreen is much larger than the mirror because it is more important to look forwards than backwards. The United Nation estimates that 600 million jobs need to be created by 2030 to absorb new entrants to the labour market. SMEs in developing countries create 7 out of every 10 jobs created, which makes us very critical to meet that target. The geographical breakdown of where the new jobs should be created was not stated. My personal estimate is that SMEs in developing countries should create 360 million to 400 million of those jobs. UAE is launching the Nasdaq Dubai Growth Market in January 2021 to assist SMEs to raise funding to expand operations. In Singapore, the government is working flat out to encourage SMEs to adopt data analytics as technology is going to be a key driver post-Covid-19. This should inform the strategic directions African governments should adopt to capacitate SMEs on our continent. I am looking forward to interacting with you at the Expo. Remember, your network is your net worth!!!
“Chester Dimairho is a fellow of the Association of Chartered Certified Accountants, a Public Auditor and an Associate Member of the Institute of Directors. The views expressed in this article are his personal views and should not be treated as professional advice. He can be contacted at firstname.lastname@example.org”