SMEs Benefit As ZETECH Unveils Entrepreneurship Training

 SMEs Benefit As ZETECH Unveils Entrepreneurship Training

BY MAXIMILA WAFULA

Zetech University today unveiled it's first phase  of business training in the entrepreneurship skills at the Zetech Mangu Campus the Center of Innovation and  Excellence. The training involved over  300 women , youth and men  in entrepreneurial skills,  from different wards of Juja Constituency. 

Vice - Chancellor Prof. Dr. Njenga Munene

Overview .

Small and Medium Enterprises (SMEs) play a major role in most economies, particularly in developing countries. SMEs account for the majority of businesses worldwide and are important contributors to job creation and global economic development. They represent about 90% of businesses and more than 50% of employment worldwide.

Formal SMEs contribute up to 40% of national income (GDP) in emerging economies.

These numbers are significantly higher when informal SMEs are included.  According to our estimates, 600 million jobs will be needed by 2030 to absorb the growing global workforce, which makes SME development a high priority for many governments around the world. In emerging markets, most formal jobs are generated by SMEs, which create 7 out of 10 jobs. However, access to trainings and  finance is a key constraint to SME growth, it is the second most cited obstacle facing SMEs to grow their businesses in emerging markets and developing countries. 

On his part , Zetech University Prof. Dr. Njenga Munene expressed confidence in the initiative which will facilitate job creation and economic growth through providing micro and small entrepreneurs with advice , business management , mentorship, leadership  and entrepreneurship skills and competencies that add value to society.

On the same note the initiative seeks to support His Excellency President William Samoei Ruto's agenda on the Hustler Fund.

The business training skills, mentorship and coaching will provide hand holding and after care through mentoring and business advisory visits and also business support and advice through SMS tips.

Having recognized the diverse financial needs of the people of Kenya , Zetech University developed a tailored training curriculum for the various targeted  groups in classroom approach. This is on the experiential and practical basis,through the use of adult learning principles .

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