The Power of Small Businesses

by Developed Africa 24. March 2014 09:00

A recent article from How We Made it In Africa highlighted how important small businesses are to growing economies.

The article focuses on the impact small businesses are having on the economies of post-war Sierra Leone and Liberia, proof of the power of small businesses on growing economies if they can be of such high importance to war-torn countries. 

in post-conflict economies which have endure decades of war, the role of small and medium enterprises (SMEs) is even greater in job creation, providing essential services and rebuilding the nation's economy"

On top of the usefulness of SMEs in bolstering economies that have seen much turbulence, it is evident that they are helpful at 'filling in the gaps' in areas such as manufacturing, where there is little large scale activity across Africa at the moment, but by having SMEs partaking in manufacturing, the sector can start to build up.

manufacturing, on a large scale, is still somewhat embryonic in Africa and as such, there is a definite opportunity for SMEs to fill the gaps which are not being serviced by these large global companies."

But it is perhaps important to note that they should not be seen as just a gateway before company giants move in, but perhaps as a real tool for development that comes from, and benefits, real people and their small businesses.

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