The Role of SMEs as the engine of economic growth in Africa : Compiled Report of the 7th Annual SME Conference & Expo

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Strathmore University Press (SUP)
Small and Medium Enterprises (SMEs) contribute greatly to economic growth of developing countries. Their share in employment and wealth creation tends to be higher than from large enterprises. As such, policy provisions remain fundamental in propelling these enterprises towards self-sustenance and realization of their full potential in contributing to economic growth. In Kenya for instance, SMEs operation cut across almost all sectors of the economy and sustain majority of households. Their activities form a breeding ground for businesses to thrive and provide one of the most prolific sources of employment. As such, debates and policy provisions geared towards boosting their operations are not only good for the sector, but the country’s economy as well. Experience over the years has also shown that in addition to policy provisions, SMEs need training, support services, networking and business opportunities to help them develop and implement their growth plans. It is against this background that Strathmore University organized the 7th Annual SME Conference and Expo that brought together SMEs regionally with a view to providing them with opportunities for networking and business growth. The theme and sub-themes of the event allowed SMEs to explore how they can become competitive players in a continental market. The event provided opportunities for SMEs to share their needs and explore the various financial solutions available to promote business sustainability. A primary focus of the event was positioning Kenyan SMEs to be globally competitive players that can tap into opportunities associated with the African Continental
Proceedings of the Seventh Annual SME Conference and Expo
SMEs, Economic Growth