AAI Promotes Small and Medium Enterprises Through Improved Business Management Practices
- Created: Monday, 21 September 2020 12:31
- Published: Monday, 21 September 2020 12:31
The development of small and medium enterprises is subject to many limitations that emerges both from their external environments, internal weaknesses and lack of knowledge in small business management. Lack of improved business management skills and application of these skills are some of the biggest factors contributing to SMEs failure. As one way of improving small and medium enterprises (SMEs), African Institute of Corporate Citizenship (AICC) through its Agribusiness Acceleration Initiative (AAI) project is improving SMEs with high potential of growth through tailor-made agribusiness solutions that includes training in improved business management.
Small and medium enterprises often have limited exposure to the skills required for operational and business reporting, business plan preparation, navigating regulatory requirements, and keeping meaningful records for decision making. AICC through AAI project, engages and build partnerships with private sector players ranging from input suppliers, off-takers, supportive service providers, government as well as other regulatory service providers to enable SMEs have skills in diversification and record keeping among others.
Skills in record keeping and business management have helped SMEs to easily access finance and to be recognized with large scale businesses as their distributors among others. One of the unique Agrodealers under this project is Pemba Agrodealers, a business located in Chinamwali in Zomba. Mr Pemba and his wife joined the AAI project in December 2018 while their business was unregistered and without a business plan. They have since learned to keep records for the business and have developed a business plan that they follow. Through the training of record keeping and business planning, Pemba Agrodealers has now been registered with Malawi Revenue Authority (MRA) and has also been diversified into an aggregating entity of farm produce having demonstrations field for DEKALB maize seed and also linked to MOSANTO Malawi.
Pemba family in the shop and Mr. Pemba in the demonstration field respectively