The Kenya National Chamber of Commerce and Industry (KNCCI) Kericho chapter has urged key players in the Small and Medium sized Enterprises (SMEs) ecosystem in the County to collaborate and identify actionable strategies that will help build resilience and thriving futures for the business enterprises.
Addressing participants at a Kericho hotel during the Absa Bank Annual Business Club forum, KNCCI Kericho Chairman Mr. Robinson Bett noted that SMEs, being the backbone of the local economy, had faced numerous challenges that tested their resilience, adaptability, and creativity while fostering development across the county.
“We are living in a time where the business environment is marked by volatility, complexity, and rapid change. Our SMEs have faced numerous challenges, from economic fluctuations and supply chain disruptions to increased competition and the evolving demands of the digital marketplace. These challenges have tested us, yet they have also shown us the importance of resilience, adaptability, and innovation,” said Mr. Bett.
He reiterated the collaboration of key players’, notably financial institutions, government representatives, business leaders, and development partners, to foster a healthy environment where challenges and identifiable actionable strategies can be identified so as to create a sustainable business environment for SMEs to thrive.
“By bringing together key players in the SME ecosystem, we create an environment where knowledge can be shared, resources can be aligned, and solutions can be found. We are here not only to discuss challenges but to identify actionable strategies that will help our SMEs thrive,” added Bett.
Mr. Bett noted financial resilience and access to capital as being one of the greatest challenges for SMEs and called upon financial institutions for support in assisting them into exploring innovative financial solutions that will not only strengthen their financial foundations but leverage opportunities to access capital.
The KNCCI Kericho chair encouraged SMEs to move with the times and incorporate digital technology in their operations in a bid to grow and have a positive impact on the county’s economy.
“As the world embraces digitisation, SMEs need to embrace digital tools and platforms that can help streamline their operations, expand their reach, and improve customer experiences. SMEs can leverage technology to enhance their competitiveness and build future-ready enterprises,” said Mr. Bett.
He said the KNCCI Kericho branch was committed to the growth of the SME sector in Kericho County, and they were ready to offer support to see the business enterprises thrive by advocating for policies that support business growth, providing access to resources as well as training forums, and connecting the SME entrepreneurs to opportunities for growth.
The capacity-building meeting themed ‘Building resilience for business continuity in times of uncertainty’ brought together over 200 participants drawn from various SMEs in the six sub-counties of Kericho, notably Ainamoi, Belgut, Londiani, Kipkelion, Soin/Sigowet, and Bureti sub-counties. ABSA Bank facilitated the event.
By Sarah Njagi
