When you ask entrepreneurs today what their three major problems are, the most common answer you will get is "markets, funding and information. The Association, being an organisation formed by entrepreneurs, for entrepreneurs is very much alive to these challenges, and is actively working to address these.
Markets
Already, the first marketing initiative, which is the Business Directory, is in place. It is now up to each SME to play their part by ensuring they are registered on the website, which registration is for free. The Association also works better with more members present, so please refer your business colleagues to the website. Additional marketing benefits are available for paid-up members, which include access to the shop front and special offers sections of the site, as well as featuring on both the site and in our offline marketing.
Our monthly networking cocktails start from April, and are another initiative aimed at circulating money amongst entrepreneurs, rather than feeding it out of the country. We will also be embarking on our linkages program with large corporates, something that is expected to work well given the large corporates' desire to access the SME market. We have also contacted a few external development agencies, and although progress on this front may take slightly longer, we nevertheless have our foot in the door.
More initiatives on the marketing front are set to be unveiled soon, once we have advanced sufficiently with ongoing negotiations.
Funding
The Association has managed to arrange some networks with the banks, through which SMEs can access funding. Although most SMEs do not fit the criteria that the banks require, the Association nevertheless will seekk to try and find alternative routes in which SMEs can be financed, but at the same time banks can have the confidence that loans will be repaid. In the meantime, however, we encourage SMEs to ensure they have the basics in place, particularly registered companies, bank accounts (into which all income is deposited prior to disbursements) and a set of financial records. Not only is this good practice, but it also allows the SME to see clearly where they are going, financially.
Information
The Association's training & development sub-committee seeks to ensure that SMEs receive relevant training that ensures they can operate optimally. Training programs will be individually tailored for each entrepreneur and their team, and emphasis will be put on impact assessment to ensure that our efforts are directed, and are producing results.