THE ENTREPRENEURIAL ECOSYSTEM AND STRATEGIES FOR THE GROWTH OF SME’s IN CAMEROON
December 11 @ 8:00 am - 2:00 pm
Date: 11th December 2020
Venue: Foretia Foundation
Time: 8:00am to 2:00pm
In Cameroon, small and medium-sized enterprises (SMEs) are regarded as vectors for job and wealth creation. According to statistics from the Ministry of Small and Medium-Sized Enterprises, Social Economy, and Handicrafts, there are more than 400,000 active companies in the informal sector. Ninety-nine percent (99%) of these companies are SMEs, whose active presence helps generate growth and redistribute wealth in society. The important role played by SMEs in reducing poverty in Cameroon is gaining recognition. SMEs contribute around 36% of Cameroon’s GDP, make-up over 90% of businesses in Cameroon, and employ above 60% of the population. That notwithstanding, evident realities indicate that enormous potentials inherent in this sector are unfortunately not fully harnessed – especially given that more than 70% of SMEs still operate informally.
However, according to the General Business Census 2016 (RGE-2), the incubation and capacity building process of existing and potential entrepreneurs requires an enabling environment as SMEs still face significant challenges in terms of obtaining finance, lack of appropriate managerial skills, non-compliance with the Tax regulations, complicated legal environment, poor networking and lack of dedicated agencies to assist existing and potential entrepreneurs. The incubation process, growth, and sustainability of most entrepreneurs in Cameroon can be greatly improved through private training and networking especially in business management and entrepreneurship skills.
It is based on the above-interwoven problems that the Small Business and Entrepreneurship Center (SBEC) of the Denis and Lenora Foretia Foundation, organizes the 2020 National Forum on the theme “The Entrepreneurship Ecosystem and Strategies for the growth of SMEs in Cameroon” so as to discuss strategies which entrepreneurs can put in place to achieve sustainable growth in Cameroon.
- The main objective of this forum is to discuss the challenges faced by entrepreneurs in Cameroon and seek possible solutions to these problems in other to achieve a favorable entrepreneurial ecosystem.
The specific objectives are to:
- Find ways of attracting Investors and customers;
- Facilitate access to finance and business registration;
- Identify networking opportunities for SMEs at national and international level;
- Provide an opportunity for SMEs to exhibit their products and services;
- Identify challenges faced by SMEs in Cameroon and share best practices;
- Develop the SBEC network.
- SBEC Network members
- Other dynamic entrepreneurs from the SBEC database