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Minister of Small to Medium Enterprises and Co-operative Development, Sithembiso Nyoni

Business Reporter
MORE than 400 delegates are expected to attend the high profile CBZ International Small to Medium Enterprises (SME) indaba, which kicks off in Bulawayo today with a focus on embracing innovation so as to tap into new opportunities.

The three-day event is being held at the Zimbabwe International Exhibition Centre under the theme “Unlocking Innovative SME Development”.

It brings together local, regional and international stakeholders, business leaders, national and international experts relevant to the growth of the SME sector.

The event provides a unique platform dedicated to creating awareness of the challenges faced by SMEs and provide solutions to the challenges highlighted through presentations and discussions with both local and international experts.

Small to Medium Enterprises and Co-operative Development Minister Sithembiso Nyoni will be the guest of honour at the event and will share the stage with Mr Rajiv Chawla, the chairperson of “I AM SME” of India, among other distinguished speakers.

SMEs play a key role in economic growth and development in many countries around the world. They have become a dominant form of business in many developing economies and contribute to exports, employment generation, economic empowerment and poverty alleviation.

Zimbabwe’s SMEs sector has demonstrated resilience in the face of a challenging economy with the budding entrepreneurs exhibiting flexibility in adapting to changes in market tastes and preferences. Despite its potential the growth of the sector continues to be weighed down by challenges such as lack of finance, inadequate working space, limited management and marketing skills, lack of supporting legislation and regulatory structures, which have seen SMEs operators playing hide and seek with authorities.