Grace Njoki-Journalist
Small Medium-sized Enterprises (SMEs) are non subsidiary, independent firms which employ less than a given number of employees.
SMEs play an essential role in the economy of a country by providing employment, income generation and stimulation of growth both in urban and rural areas.
Their capacity to apply, adapt and disseminate new technology is unique from other larger businesses.
SMEs are known in the world economy because they play a great role in economic development, providing products and services, creating value in an economy, drive industrialization, develop skills of managers, create wealth for nations and create employment to the citizens of nations.
It does not matter the size of the business you are planning to start, always think ahead how far and big it will become. A good example of SMEs is Spic and Span. A cleaning company in Kenya started in 1999 by Susan Mwenda. People are still enjoying its services. Big companies depend on their services too.
SMEs are at least half the food economy. Such businesses have a vital role to play in forging a more nourishing, sustainable equitable and resilient food system.
However SMEs are faced with the challenge of inadequate working capital, stiff competition from large companies, low capacity utilization, financial problems, and cumbersome regulatory practices among many more.
The following six pathways will help boost the impact of food SMEs;
- Elevate the voice of SMEs
- Reduce the cost of doing business
- Reward positive outcomes
- Target support at food SMEs
- Democratize the digital food revolution
- Make good food matter