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AFRICA CONGRESS OF ACCOUNTANTS PAFA event - GHANA – MAY 2013

AFRICA CONGRESS OF ACCOUNTANTS PAFA event - GHANA – MAY 2013. Promoting the Growth of Small & Medium Enterprises (SME) Tshego Modise, President, BICA. Agenda. 1. What is SME. 2. Need to Promote SME's. 3. Botswana SME's. 4. Key Message to Stakeholders. What is SME.

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AFRICA CONGRESS OF ACCOUNTANTS PAFA event - GHANA – MAY 2013

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  1. AFRICA CONGRESS OF ACCOUNTANTS PAFA event - GHANA – MAY 2013 Promoting the Growth of Small & Medium Enterprises (SME) Tshego Modise, President, BICA

  2. Agenda 1. What is SME 2. Need to Promote SME's 3. Botswana SME's 4. Key Message to Stakeholders

  3. What is SME • What exactly an Small to Medium Enterprise is - depends on who’s doing the defining • Various economies have a different definition which varies • Whatever be the definition – SME's play a crucial role in achieving industrial and economic development objectives of an economy

  4. What is SME – continued... • IASB defines SME's based on accountability and not on monetary limits (IFRS for SMEs applicability) • European Union (EU) defines that there are three broad parameters which define SMEs: • micro-entities are companies with up to 10 employees • Small companies employ up to 50 workers • Medium-sized enterprises have up to 250 employees. • "The category of micro, small and medium-sized enterprises (SMEs) is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro."

  5. Botswana's SME Thresholds

  6. Need to promote SME's

  7. Challenges faced by SME's

  8. Challenges faced by SME's

  9. Getting out of Comfort zone

  10. Synergic effects of SME's

  11. Botswana SME …

  12. LEA BOCCIM CEDA BOTA Some Botswana Initiatives to promote SME Promoting SME's Supporting Training Entrepreneurial Skill Low Cost Funding Private Sector LEA CEDA BOTA CEDA

  13. Botswana initiatives – continued …

  14. Botswana Initiatives - continued

  15. SMEs: key messages to government • A thriving SME sector is key to economic growth and job creation • An enabling regulatory requirement is critical – particularly SME registration and monitoring • Governments can engage (incentives) to address the need for start-up funds • Governments play an essential role in capacity building, e.g. • Promoting the need for more entrepreneurs and SMEs • Setting up agencies for advice and training on starting and operating SMEs

  16. SMEs: key messages to business • Localizing value creation through SME engagement is a key contribution to economic development wherever “big business” operates • Leadership from the top is key to success - both strategically and operationally • Facilitating access to finance is critical • Consider partnering across segments to facilitate SME development and access to finance • Business planning skills, incl. training in financial management, are crucial • Capacity building help is essential

  17. Time is ticking…..SME's need to overcome the hurdles

  18. Acknowledgement • Policy on Small Medium and Micro enterprises in Botswana – Government Paper No 1 of 1999 • Transforming Africa through embracing good governance principles – by George B Partridge • The Role of Government in promoting investments to reduce poverty in Africa – Ben Kaluwa • Botswana and sustainable development: Drawing policy strength from experiences – Laurence Clarke 2008 • Employment – creating through SME's in Sub Saharan Africa : Emerging insights and challenges from Botswana – Thando D Gwebo • LEA Web site (www.lea.co.bw) • CEDA Web site (www.ceda.co.bw) • IFRS for SME's • Performance and Competitiveness of Small & Medium sized manufacturing enterprises in Botswana • Promoting SME's for development - OECD

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