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Small and Medium Enterprises
Poverty reduction requires more than just economic growth. But the latter is an essential factor for the private sector to create jobs and additional income which will benefit the poor. Respective strategies towards broad-based growth need to strengthen micro, small and medium enterprises (MSMEs). These ventures account for the majority of economic activities in developing countries and provide significant employment opportunities. However, MSMEs often face growth constraints due to their size and capacities. Such limitations need to be addressed to strengthen the enterprises’ economic potential and competitiveness, and to enhance their access to dynamic markets.
For more than 20 years, GFA teams have been supporting private sector stakeholders, particularly MSMEs, through a threefold approach that translates into broad-based growth. First of all, our experts consult reform processes that improve the very framework of economic development. Also, they strengthen demand-oriented and responsive business and financial support institutions. Last but not least, we offer capacity development to entrepreneurs who strive to boost their competitive edge.
Business environment GFA consultants facilitate a conducive business environment for private sector investment and competitiveness by reducing legal, regulatory and administrative constraints. The services we offer comprise assessing regulatory impacts, and simplifying business registration and licensing procedures. Also, we improve business-related regulations and enforcement practices, and install one-stop services at the local level.
Business and financial support institutions Our experts facilitate better access to market information, business services and finance. They improve the institutional arrangements that promote MSMEs in their strategic and operational business activities. We help business membership organizations, financial institutions, providers of business development services (BDS) and public support facilities become more responsive to MSMEs’ demands. Also, we encourage such institutions to develop innovative services and market them accordingly, and to develop economically viable business models for service delivery.
MSME capacity development GFA creates awareness among MSMEs that competitiveness in domestic and foreign markets needs to be improved. In this respect, we pursue a systemic approach through collective action in a cluster or value chain. Developing enterprises’ ability to collaborate in horizontal and vertical networks is a promising approach as it creates opportunities to benefit from economies of scale. Also, it stimulates innovation and technological upgrading initiatives, often in collaboration with additional institutional stakeholders