The role of entrepreneurship in economic development is substantial as entrepreneurs not only build businesses and grow their personal wealth, but also impact the economy by creating new jobs and opportunities, driving innovation, and developing new markets, products, and services.
In Kenya, small businesses are the driving force behind innovation and economic growth accounting for 33.8 percent of the national output, according to the 2022 Kenya National Bureau of Statistics(KNBS) economic survey.
As these businesses grow, they create more jobs, contribute to higher tax revenues, and stimulate demand for goods and services from other sectors.
However, despite their crucial roles, various challenges, including access to credit, competition, cash flow management, and taxation, have hindered these enterprises from growing.
The 2016 Micro Small and Medium Enterprises (MSMEs) survey revealed that 46.3 percent of small businesses closed within their first year of operation.
This underscores the importance of investor readiness to ensure small businesses develop appropriate business strategies and manage resources efficiently to remain competitive and attractive to investors and lenders.
Investor readiness is the capacity of an enterprise to understand and meet the specific needs and expectations of investors.
An investment-ready business can raise external capital more easily as it is prepared to meet the right investor, as well as their needs and expectations.
This enables businesses to easily develop new products, expand production capacity, and access new markets leading to overall business and economic growth.
In a bid to promote business growth, business consulting firm WYLDE International, in partnership with ABSA Kenya, has organized an exclusive webinar to help entrepreneurs communicate effectively with their clients and lenders.
”Join us for an exclusive webinar where we’ll explore how to make your business investor-ready and set the stage for long-term growth!’’
The topics of discussion will be:
- How to build a business that investors can’t resist
- Key strategies for positioning your business for growth
- Financial tips for attracting the right investors
- Best practices for presenting your business to potential investors
The webinar will be live on Zoom on Tuesday, 15 October 2024, from 9:00 am to 10:30 am.Click to reserve your spot.