GOVERNMENT has expressed its commitment to promoting the development and growth of small to medium enterprises (SMEs) and address the skills gap in the sector.
Speaking at the Vision 2030 SMEs Business Summer School recently, Women’s Affairs, Community, Small and Medium Enterprises Development minister Monica Mutsvangwa said the government’s mandate included offering business management technical skills focusing on decision-making and problem-solving to the SMEs.
The summer school was running under the theme Empower Small and Medium Enterprises through Comprehensive Set of Objectives Designed to Foster Business Growth, Skills Development and Sustainability.
“My ministry is committed to promote the development and growth of the sector through the implementation of various interventions such as business management skills training, market access, funding, cluster development and association building, among others,” Mutsvangwa said.
“To address the skills gap in the sector, the ministry offers business management technical skills training throughout the country to equip entrepreneurs with the necessary knowledge and skills to enhance their decision-making, problem-solving and leadership abilities for them to remain competitive and adapt to changing market conditions.”
She said Zimbabwe faces significant challenges with informality, with 86% of enterprises operating informally, according to the Finscope SME Survey 2022.
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“The informality negatively affects the sustainability of a business as it limits access to business development support services from stakeholders, access to finance, market expansion opportunities and regulatory compliance, among other issues.
“It is, therefore, important for you to register your business operations to ensure long-term sustainability,” she said.
Mutsvangwa also called on SMEs associations to invest in digital training in their programming to build member capacity.
“Government established innovation hubs at tertiary institutions to nurture and develop innovations in the country.
“It is common knowledge that SMEs are innovative by nature as they actively engage in developing new products and services,” she said.
“I encourage the sector to work closely with our tertiary institutions in perfecting their innovations and also with the Zimbabwe Intellectual Property Office to register and protect their innovations.”
Skills Audit and Development minister Paul Mavima said skills development for SMEs was of utmost importance as it imparts knowledge to the on how to grow our businesses.
“After formation, we understand that entrepreneurs are delighted in seeing progress in their undertakings,” he said.
“One of the key factors that is looked at is whether the establishment is growing or not. Our SMEs undertakings should get adequate training so that they know proper channels and canons of establishing sustainable businesses.”