Sammy Itemere

CEO's Profile

Theme |
Topic | SME Opportunities & Challenges
MONTH | March 2014

SME Opportunities and Challenges

Discussion Focus Area

  • Access to new domestic markets created by the devolved county government system, and the regional markets as a result of the East African Ccommunity Common Market Protocol.
  • Government policys focus on investment and tax incentives to SMEs.
  • Access to credit from Financial Institutions and impact of macroeconomic factors (e.g. Inflation, interest rates, exchange rates, GDP per capita growth rates.)
  • How SMEs can leverage on enhanced skills, standards and capacity to improve their businesses.

Overview
The World Bank defines Small and Medium-sized Enterprises (SMEs) as businesses with turnover of Kshs.5 million per year. To capture a wider base of “small enterprises”, KBA defines SMEs as clients with turnover of Kshs.4 Million per year.

SMEs play an important role in the economy and contribute substantially to income, output and employment world over. Locally, the sector has evolved to be the greatest contributor to the Kenyan economy --in terms of wealth creation and employment opportunities.