MARTIN MAWAYA
GWERU-Minister for Women Affairs, Community, Small and Medium Enterprise Development, Sithembiso Nyoni says small businesses should forge market linkages, partnering with local authorities as well as riding on industrialization drive by tertiary institutions.
Minister Nyoni said collaboration with local universities who have innovation hubs will help small enterprises to produce competitive products.
Nyoni told The Midweek Watch during a tour of small business enterprises in Gweru that the sector is immensely contributing towards the country’s development and employment creation.
“Government is more focused on small businesses and link them to bigger companies and universities so that they can grow and produce quality products as well as move our SMES towards vision 2030,” she said.
She said the success of micro enterprises lies with the public and private sector cooperation.
Nyoni added that small enterprises should partner with the local authorities and Ministry of Local Government so that they can easily access operational spaces and formalize their businesses.
“SMES are making a huge contribution to the economy and one of the things that is key to the Ministry is work space. We want to encourage local authorities to avail work space so that they can build their own premises because it is a shame that people are working from the streets,” said Nyoni.
She said high rentals is one of the main constraints among others that hinders the growth of small businesses.
The Minister applauded the local business enterprises for embracing gender balance at their work places.
She said Zimbabwe government recognize the informal sector as a cog in employment creation, women empowerment and inclusive growth.
Above that, the country’s National Development Strategy 1 (NDS1), also hinges rural industrialization and manufacturing growth to the SMES, as well as setting targets to help the upcoming businesses to transform from informal to the formal economy.
Furthermore, Zimbabwe SMEs have emerged as an important part of the economy, contributing significantly to the Gross Domestic Product (GDP).
According to the 2022 Finscope SME survey, micro, small and medium enterprises contributed US$8,2 billion to national Gross Domestic Product and created 4.8 million full time jobs.
