SMEs Support Center
This is in recognition of the important role the sector (SME) plays in driving growth, job creation and innovation locally and around the global.
The Centre involves distinguished thought leaders, policymakers and experienced practitioners in an effort to empower entrepreneurs and inform our engagement in promoting the growth of the sector. We also seek out strategic partnerships with private, public and NGO sector bodies engaged in similar efforts.
Our activities are geared towards building entrepreneurial capacity in Tanzania and the region, promotion of best practice and excellence in management practice and publicly recognizing organizations and people whose achievements and attributes need to be emulated.
The Centre provides a platform for constructive and solution-oriented dialogue and capacity building on issues pertaining to entrepreneurs and SMEs around the key areas of:-
These are activities that involve forward evaluation and planning as well as putting contingencies in place that would among others:-
Enable an entrepreneur make an informed investment decision
Adequately respond to risk in the unforeseen operating environment risk; and,
Continue to operate successfully given the new circumstances.
SBS is in the process of developing a Business Preparedness tool, a matrix that will rate and weigh various indicators to guide the decision making process. It will serve to:
Enable individuals to assess their business preparedness and minimize the risk of failure
Identify and address points of weakness in already existing and or ailing businesses
Assist third parties including financiers and suppliers etc to gain a better understanding of client firms
Through training, the SBS SSC assists entrepreneurs at various levels with the planning and conceptualization of their businesses, putting it together and thinking through the various aspects necessary for success.
The resulting document is able to describe the business to a potential lender or partner and enable them to take a position regarding their engagement if required.
We help the entrepreneur develop a document that:-
Introduces the entrepreneur and his business,
Explains the vision and the strategy,
Explains the proposed business idea,
Describes the target market and the competitive advantage,
Shows the required capital, expected cash-flow and how it will be applied
Is a bankable business plan
Business Development Services
Access to capital alone is not enough for SME success. Financing needs to be accompanied by Business Development Services (BDS) that provide entrepreneurs and businesses with the knowledge and tools they need to compete. In Tanzania, quality Business Development Services are costly and out of reach to many small businesses.
In some areas they are virtually non-existent. SBS SSC is working to alleviate this gap by providing SMEs with quality BDS. We are working to build our capacity to adequately serve the local businesses through our branch network in 20 major towns across the country.
Under BDS, we provide the following services:
Training for SMEs
The Centre also develops tailor made programmes based on the individual needs of clients after undertaking a comprehensive training needs assessment to determine their specific requirements and the existing gaps in management practices.
Consulting for SMEs
The Centre carries out consultancy assignments related to enterprise development to meet the needs of SME clients or the needs of SME Support Organization’s as may be appropriate.
Research for SMEs
We take research assignments related to enterprise development to meet the needs of SME clients or the needs of SME Support Organization’s as may be appropriate.
Business Counseling and Mentoring Services>
We provide business counseling and mentoring services on a one-to-one basis to entrepreneurs in areas that still require individual attention after going through the training.
Conferences and Symposia on Entrepreneurship Development
KIM hosts various educative forums and events including conferences and award ceremonies to recognize excellence and hear from business leaders. The forums address challenges, opportunities and issues pertinent to the success of the sector. They also encourage and reassure businesses and entrepreneurs of their vital role in job creation and economic growth.
KIM has developed the Organizational Performance Index (OPI), a performance assessment tool that reviews business processes and benchmarks firms with their global counterparts who can be considered the gold standard in their sector. OPI was developed in response to feedback from organizations participating in the Company of the Year Awards (COYA) and the KIM Annual Business Awards (KABA).
KIM continuously refines the assessment tool in line with emerging trends and feedback from the market. The focus is to maximize efficiency in business processes necessary to generate the best results and push local business practices to the same level as those among the best in the world. The recognition and award function of the SSC is the KIM Annual Business Awards (KABA). It invites SMEs for an intensive process of assessment with a view to improving their business management practices. Through this program, KIM-SSC aims at improving the management practices and results of SMEs who benefit from expert advice and internal capacity building. Some SMEs have graduated to large enterprises and many others registered substantial growth after the OPI process.
Areas of Assessment
OPI gives SMEs a valuable model to assess how they run their business and to measure their performance against competitors in their industry and also against global standards. The OPI is designed to enable SMEs create a culture of continuous learning, so they can improve the quality and consistency of their performance in order to grow their businesses and become globally competitive. SMEs that show exemplary growth in them will receive recognition at the annual KABA gala night. The determinants’ below are the areas assessed:
- Leadership and management
- HR Focus
- Customer orientation and Marketing
- Financial Management
- Innovation and Technology
- Corporate Social Responsibility and Environment
- Productivity and Quality