Topic 9 July 27, 2017

Topic 9 Help & Support for Enterprise

Formal sources

1. Government bodies
2. Business agencies
3. Financial institutions
4. Charities
5. Non-governmental organisations (NGO's)

Informal sources

1. Friends
2. Family members
3. Teachers
4. Business acquaintances

Business networks

These are forums for advice and discussion

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Topic 9 July 27, 2017

Sources, examples, how they assist and effectiveness

Formal
Source Example How they assist Effectiveness
Key vehicle in
• Assist growth of SME's government's drive
Ministry of
through financial assistance to boost the
Government Small to
(grants and low-interest economy;
bodies Medium- sized
loans) and business planning particularly effective
Enterprises.
advice. for export-oriented
enterprises.

Some success with

• Advise government on policy policy changes
Zimbabwe
Business relating to the private sector. favourable to
Investment
Agencies • Facilitate joint ventures with entrpreneurs but
Agency
external investors. major focus is on
larger ventures.

• Banks -
Collateral is usually
CBZ,
• Business planning advice required for loans,
Financial Barclays
• Provide loans for business and interest is high
Institutions • Building
start-ups. thus inaccessible to
Societies -
many.
CABS

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Topic 9 July 27, 2017

Sources, examples, how they assist and effectiveness

Formal

Source Example How they assist Effectiveness

Selects young entrepreneurs,
Zimbabwe Achievers' showcases their enterprises Relatively few recipients
Charities
Awards Fund and provides business advice benefit from each.
and some financial support.

Financial, educational and

emotional support for
Zimbabwe Womens'
NGO's underprivileged women As above.
Finance Trust
entrepreneurs, primarily in
rural areas.

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Topic 9 July 27, 2017

Sources, examples, how they assist and effectiveness

Informal

How they
Source Example Effectiveness
assist
Knowledge of market
trends and new ideas
Honest advice in self-
from other markets.
appraisal is useful, as is
Friends at school, at Know you well in terms
their knowledge.
Friends other schools, locally of strengths and
May however be
based or international. weaknesses and can
untrained, and possibly
help you make honest
biased.
appraisals of likely
success.
May be too close to you
Family As above for their input to be
unbiased.
Can help you avoid
mistakes and provide
valuable advice and
Knowledge and
Business people suggestions.
experience.
Knowledge of market
and PESTEL factors can
be very useful.

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Topic 9 July 27, 2017

Sources, examples, how they assist and effectiveness

Business Networks

Example How they assist Effectiveness

Support and advice shared between

Small scale but some useful advice
fellow small business owners, feeling
Biznik from entrepreneurs who have "been
that "collaboration beats
there".
competition".

Web-based.
Business Network Provides referrals and word-of- As part of a global network, this can
International - mouth marketing for members. assist entrepreneurs seeking export
Zimbabwe Updates of international news and a contacts and markets.
database of members.