Business News Kenya: Bizna Kenya is the number one website that delivers the latest in business news, and the most in-depth business analysis.
Bizna Kenya is also an enterprise development portal that supports access to better goods and services by marketing and promoting businesses. The media group also hosts two annual awards that are aimed at promoting entrepreneurship in the small and medium enterprises category, as well as the entrepreneurship among the youth.
These awards include the Bizna Annual SME Awards which this year sought to recognise and celebrate small and medium-sized enterprises based on their performance, profitability, quality of products and customer relations. The group also hosts the Young Entrepreneurs Awards (YEA).
“There is need for capacity building for small business to make them successful. These businesses are run by hardworking entrepreneurs but they require more knowledge on business management,” says Bizna Kenya CEO Tonnie Mello. These awards have been a major boost for an economic sector that often records a higher rate of failure than success. “One of the major hurdles small and medium businesses face is sustainability. Most SMEs have difficulties breaking even and surviving the first 1,000 days. This is on top of maintaining fluent operating capital and income streams,” says Mr. Mello. In Kenya, the SME sector is estimated to contribute about 3 per cent of the overall Gross Domestic Product (GDP). According to the Central Bank of Kenya’s National Economic Survey report, the SME sector also constitutes 98 per cent of all businesses in the country, and contributes about 30 per cent of annual jobs.
Additionally, Bizna Kenya empowers businesses to:
- Create awareness about their products and services.
- Market products and services to a wide range of clients.
- Client engagement through social media and mobile solutions.
- Link with other businesses, suppliers and key business resources.
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