08 Jan 2019
Tarek Sultan Al Essa
Chief Executive Officer and Vice-Chairman of the Board, Agility
Smaller businesses need their own ecosystems. They require products, services, partners and collaborators that speed their digital journey; help them enter new markets; allow them to deploy their data; and give them access to scale-building technology that sharpens their competitiveness.
Big businesses are relentless in their hunt for the small, tech-driven “unicorns” that can bring outsized value to their ecosystems. But until now they’ve had little interest in more prosaic SMEs as ecosystem collaborators, protégés or even customers. That’s been especially true in emerging markets.
In Africa, where SMEs provide 80% of jobs and represent 90% of all companies, the life cycle for most small businesses is tragically short. Bigger companies and governments are doing little to help them develop their own ecosystems or close what the London Stock Exchange group says is a $140 billion SME funding gap.
Venture Africa says: “Unfortunately, the hostile business ecosystems in many African countries don’t support the growth of SMEs, resulting in their rapid death.” Read More Here