Kenyan entrepreneurs are set to benefit from a one-stop-shop centre that will give them access to information needed for business growth.
Wylde International, a specialist in SME growth, has invested Ksh 50 million in the one-stop-shop that will see entrepreneurs get access to round the clock business growth experts to help face challenges they are experiencing. Dubbed SNDBX, the centre is the first in the World and will be located in Nairobi.
The centre is an all-access pass to more than 20 experts including finance, human resources, tax, legal, branding, marketing, debt collection, innovation, governance and risk management among others.
Speaking during the launch of the centre, Wylde International founder and Chief Executive Joram Mwinamo said that the move was necessitated by the need in the market to help entrepreneurs scale up.
“An environment where ambitious entrepreneurs have supporting cast of seasoned professionals. The SNDBX is a First of its kind in the world, developed over 10 years of working with entrepreneurs, it’s designed to ensure sustainable models for business support through a proven methodology localise for the African ecosystem,” Mwinamo said.
SMEs in Kenya always struggle to get past the five-year mark, mainly because most entrepreneurs do not get the scope of a market before diving into it. Latest data from the Kenya National Bureau of Statistics (KNBS) indicate that about 400,000 SMEs close shop annually in the country with 46 percent of them dying in the first year of establishment.
Those who close attribute it to making losses, poor investment choices and market saturation. All this would have been avoided if the entrepreneur is educated about the business he wants to venture in before making the investment.
“SNDBX will be the engine for entrepreneur growth, we plan to launch other centres in other cities in the country and replicate it regionally,” noted Mwinamo.
Present during the launch, Nairobi Senator Johnson Sakaja applauded the move saying that the concept is what Kenyan entrepreneurs need at the moment. Sakaja was excited that the first centre was launched in Nairobi which is a hotbed of entrepreneurship.
On her part, British Deputy High Commissioner Kenya Susie Kitchens says the concept is very disruptive and will go a long way in helping in building big business in Kenya and the region.
Kenya’s SME sector constitutes 98% of the businesses in Kenya and provides 30% of annual employment.