Effective business plan key for SMEs’ survival, growth – Stratcomm Africa

  • as it launches Brand Reputation Week and Awards with focus on SMEs

The survival of Small and Medium Enterprises (SMEs) in difficult times, and their general growth, hinges on how they have effectively planned their operations and long-term goals, Founder and Chief Executive Officer of Strategic Communications Africa Ltd. (Stratcomm Africa), Esther Cobbah, has said.

She added that concerns about SMEs not being investor-ready and unable to access funds can also be attributed to the fact most of them do not have an effective plan, which influences how they execute their operations and attract funding.

“It is one thing coming out with an idea or being passionate about something and turning it into a business. You ought to also have a plan to let that business survive. We are encouraging SMEs to take that seriously.

“A lot of SMEs say they do not have access to funding. We know there are issues with that, but a lot of the time it is probably because they do not have the strategies and haven’t planned how the business will grow – say over the next 5 years. They have to build a reputation through what they do, planning their product line; the kinds of machinery and even human resources they will need,” she said.

She said this as Stratcomm Africa launched the Annual Brand Reputation Week and Awards on November 16, 2022 in Accra, aligned to commemorating Global Entrepreneurship Week celebrated annually from November 14 to 20.

The Week is specially set aside to celebrate entrepreneurs and empower them to scale-up their businesses, given their contribution to the country’s development.

The Brand Reputation Week’s theme is ‘Skill-up in communication to scale-up your business’, highlighting the importance of entrepreneurs acquiring the right business and communication skills to grow.

The event will focus on the use of digital communication for reputation management and enterprise growth, as Stratcomm Africa believes the current growth in digitalisation creates an opportunity for entrepreneurs to reach a wide audience with their products and services; therefore, if the right knowledge and skills are applied, they can grow their businesses and effectively manage their reputation.

Activities outlined for the Week include Reputation Clinics, which will be on November 30, 2022 at the offices of Stratcomm Africa.

The clinic will provide communication consultancy advice to about 30 SMEs selected from across the country, and other organisations which are looking to grow and require fresh perspectives to help them succeed.

Stratcomm Africa through the Business Clinics will offer one-on-one consultation to the SMEs while offering them the needed strategies, skills and support to grow and develop their business.

SME Communication Awards

The awards scheme will allow SMEs to showcase how communications impacts their businesses, thus highlighting further the importance of strategic communications in business growth.

SMEs with the most impactful communications approach will be awarded, and some will be given an opportunity to receive professional communication services from Stratcomm Africa.

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