Of the 10 Small and Medium Enterprises (SMEs) that start every year in Rwanda, seven don’t live to celebrate their first anniversary, the Private Sector Federation [PSF] has revealed.
Speaking to The New Times, the federation’s Director of Entrepreneurship, Antoine Manzi, said that the trend has been observed over time.
He said that a lack of strategy was the biggest cause for this short life of SMEs.
However on a brighter note, Enterprise Rwanda has deployed methods to check on the rate at which enterprises are collapsing.
“Enterprise Rwanda is all about training and monitoring to see to it that SMEs persist,” he said. So far, the body has trained 30 SME personnel.
It also works alongside Business Development Services (BDS) project which also provides business solutions.