A new online business news service for small and medium enterprises (SME’s) dubbed Bizable has been launched in Kenya to enable businesses to be sustainable, profitable as well as to overcome the various challenges.
“Kenya has now many business publications but they mostly cater for large firms and have not adequately met the unique needs of SMEs. While SMEs challenges have been trumpeted, solutions have not been offered,” said Bizable Editor Dinfin Mulupi.
African Laughter’s Business Development Manager, Evelyne Kopar, said that Bizable will present an ideal advertising opportunity for businesses, government and the financial sector.
“Bizable fills this gap by offering solutions to the challenges entrepreneurs face. The SME sector is vital to Kenya’s economy especially in job creation, service delivery and attainment of Vision 2030. It cannot be ignored any longer,” Mulipi added.
Studies have shown that 80 per cent of SMEs collapse before their third year of operation. According to the Kenya Economic Survey 2011 released by the Minister of Planning, National Development and Vision 2030, out of 503,000 jobs created last year, 440,400, or 80 per cent were in the SME sector.
A study by International Labour Organisation shows that most Kenyan SMEs face a bleak future due to a myriad of challenges, key among them being access to relevant information.
Bizable sends a weekly e-newsletter and plans to introduce an iPad magazine version in the future targeting young, tech-savvy and ambitious entrepreneurs.