SMEs to benefit from national database

Sharon Jiyamwa-Herald Reporter

ZIMBABWE’S micro, small and medium enterprises are set to benefit from a proposed national database expected to improve business registration, inform policy formulation and strengthen support for small businesses as the country moves towards Vision 2030.

The proposed database was presented at the National MSME Database Stakeholders Workshop in Harare yesterday, bringing together Government, financial institutions, local authorities and business representatives to discuss its development under the theme; “Formalising Zimbabwe’s MSMEs: Powering Vision 2030 Through Data, Innovation and Growth”.

Women Affairs, Community, Small and Medium Enterprises Development Minister Monica Mutsvangwa said the database would enable Government to develop evidence-based policies and provide targeted support to businesses.

Speaking at the official opening of the workshop, Sen Mutsvangwa said the initiative would help address challenges affecting small businesses, including limited access to appropriate financial services, markets and business development support.

She said the database would also improve the coordination of enterprise development programmes by bringing together Government ministries, local authorities, financial institutions, business associations and private sector players.

“MSME development cuts across several sectors and institutions. It requires coordinated efforts; we cannot do it alone,” she said.

Sen Mutsvangwa said MSMEs were a vital pillar of Zimbabwe’s economy, contributing an estimated 60 to 70 percent of the country’s Gross Domestic Product (GDP) while creating employment and supporting household livelihoods.

She said strengthening the sector was essential to creating opportunities for young people and building an inclusive economy.

“MSMEs are creating employment, putting food on the table and sending children to school. They are bringing up empowered citizens for this country. For us to achieve Vision 2030, we need empowered citizens,” she said.

She said the database would help Government understand the geographical distribution, operational status and development needs of enterprises across the country, enabling institutions to design interventions that respond to their actual circumstances.

The Ministry has mandated the Small and Medium Enterprises Development Corporation (SMEDCO) to develop the platform as a strategic investment in the future of the sector.

Sen Mutsvangwa, however, challenged SMEDCO and its partners to demonstrate the benefits of registration to business operators, saying the success of the initiative would depend on the willingness of entrepreneurs to participate.

“The idea is how are we going to be marketing this to the people? Because people only come on board when they see the benefits,” she said.

Source: SMEs to benefit from national database – herald

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