By Wezi Tjaronda
WINDHOEK
Small and Medium Enterprises (SMEs) that have demonstrated innovation, market growth and job creation will now be recognised for their achievements.
Old Mutual Namibia (OMN) in conjunction with two SME service providers, the Namibia Chamber of Commerce and Industry (NCCI) and SMEs Compete, together with the Namibian Broadcasting Corporation (NBC) on Tuesday launched a competition that aims at creating awareness of the successes of SMEs in Namibia.
The competition, Enterprise 2007, will also build partnerships and celebrate and acknowledge true heroes in business.
OMN’s Andrew le Roux said at the launch of the competition on Tuesday that empowering SMEs would boost empowerment creation, offer skills to Namibians and also create wealth for entrepreneurs.
The rationale behind Enterprise 2007 is the dire need for financial education on personal finances and risk management, succession planning for family-owned business, recognition from established businesses and also massive business and growth in the SME sector.
There are two categories in the competition, namely, small businesses that employ one to 30 employees, and the medium category that employs between 30 and 100 workers. The combined prize for the winners will be N$50 000.
The support to SMEs will include capacity building workshops, information dissemination, networking events and radio talk shows.
Le Roux said the end goal for the SME sector is to have growth and sustainability, innovation and creativity, expansion of markets, environmental friendly businesses, healthy business practices and good governance.
Ignatius Kamati Mutilitha, Deputy Director: Industrial Development in the Ministry of Trade and Industry, said the ministry has set a goal to build entrepreneurial talents to meet 90 percent of industrial requirements by 2010, but this needs efforts from various role-players.
With trade liberalisation effects in mind, Mutilitha said SMEs face stiff competition and should be assisted to improve their productivity and efficiency, and to produce quality products.
For SMEs to succeed, the deputy director said the business operators need financial and technical support, as well as managerial and entrepreneurial skills development.
John Akapandi Endjala, NCCI First Vice President said at the launch the lack of financial support, preferential tendering processes for SMEs, the Chinese influence and networking among businesses were hampering growth in the sector.
“We need financial support to grow because if you don’t grow the economy won’t grow,” he said. Reiterating a long-standing problem that businesses face in getting financial assistance from commercial banks, Endjala called for the establishment of departments in the banks that offer advisory services to SMEs.
“Banks should establish departments where businesses can go to with their ideas,” he added.
Entry forms for the competition, whose deadline for entry or nomination is August 25, can be obtained from Old Mutual and NCCI offices.