Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
No Result
View All Result
Women Enterprise Fund Partners With KEBS To Support Small & Medium Sized Businesses

Women Enterprise Fund Partners With KEBS To Support Small & Medium Sized Businesses

Lynda Chalker by Lynda Chalker
28 October 2019
in Business Finance
Reading Time: 4 mins read
26 1
0
32
SHARES
180
VIEWS
FacebookTwitterWhatsApp

Small and medium-sized businesses are vital ingredients for most economies. A vibrant small and medium enterprise environment can create job opportunities, aid industrial development, foster breeding grounds for innovation, contribute to the GDP of a country as well as support large businesses with services.

However, even though this sector is important for raising the GDP of a country, SMEs often face the challenge of scalability. The lack of knowledge, skills, managerial training and adequate education causes entrepreneurs to focus only on operational plans at the expense of strategic decisions, which could contribute to the growth of a business.

The lack of seed capital or financial aid from banks is also a major challenge facing small and medium-sized businesses. In addition to the rapid technological changes which also pose a threat to these businesses.

This is why the collaboration between Women Enterprise Fund (WEF) and the Kenya Bureau of Standards couldn’t have come at a better time. This partnership provides support for women running small and medium-sized business by creating access to local and international markets.

  • Partnerships

Since 2012 when Women Enterprise Fund (WEF) was set up, the agency has partnered with other organisations including Jomo Kenyatta University of Agriculture to support women enterprises and start-ups with the guidance needed to develop and grow their businesses.

The recent partnership with KEBS is aimed at standardizing and improving the quality of products provided by these small and medium businesses. Once the products are standardized the women are eligible to apply for certification, which WEF pays a subsidized rate of Kshs.5,800.  As a result, their products qualify for the KEBS Diamond of quality allowing them to access both local and international markets.

Dear SME, this is why you should register your business

  • Training

WEF addresses the challenges that women and the youth, who comprise 70% of the nation’s population, face, in their pursuit of social empowerment. This is by providing support, linkages, technical guidance and training to women entrepreneurs of these small and medium-sized businesses.

WEF builds the capacity of these micro-entrepreneurs increasing their chances for success. Additionally, through capacity building and partnerships the fund increases their chances of accessing credit; a challenge that the unbanked face when trying to start or expand their businesses.

Funding. Image from https://loanscanada.ca/business/how-to-use-assets-to-secure-funding-for-your-business/

Over the last 5 years, these strategic partnerships have enabled 13500 beneficiaries to be trained to enable them to improve their products and meet industry standards. This in terms of handling, product quality, packaging and preservation as Eng Mwirigi, CEO Women Enterprise Fund states.

As a result, WEF has disbursed over KSH 150 million to fund beneficiary businesses in the manufacturing and processing sector.

The funding cuts across numerous ventures including vegetable oil processing, soap and detergents making, water purification and bottling, yoghurt processing, aquarium making for sale, honey processing, making of hides and skins products, processing of horticultural produce, making of construction materials e.g. tiles and bricks making, ventilation blocks, milk processing and welding.

This sum is expected to increase significantly as the number of SMEs venturing into manufacturing continues to grow.

Read how SMEs can engage in Corporate Social Responsibility and the benefits of doing so

In 2018, the initiative empowered 161,000 Kenyan women.

Earlier in the year, WEF and Coca-Cola Central, East and West Africa Limited (CEWA Ltd) announced that a further 285,000 Kenyan women will be empowered in their joint economic empowerment program. Participants in the program receive business skills training, financial services, as well as access to peer networks through a business club for mentoring and ideas sharing.

Given that SMEs play a fundamental role in job creation in the country –  about 30% and contribute up to 3% of Kenya’s GDP, the nation stands to gain through skill development and support of the informal sector. In reference to the vision 2030 which aims to transform Kenya into a newly industrialising middle-income country, it is high time we start addressing the constraints that hinder the growth of small and medium-sized businesses.

Business: How SMEs Can Engage In Corporate Social Responsibility And The Benefits Of Doing So

My Friend’s Dream Of Becoming A Designer Is Now Coming True Because Of She Got Funding From Women Enterprise Fund

Share13Tweet8SendShare2Pin3
Previous Post

The Secret Benefits Of Having Breakfast Early In The Morning

Next Post

Finances: Don’t Fall For The Forex Trading Hype – You Are Likely To Lose Your Money

Lynda Chalker

Lynda Chalker

I am a writer with interest in hair, beauty and fashion. I also like telling stories, but most of all I enjoy listening and reading them. If I'm not doing any of the above, I will be trying to crack a game of chess or monopoly. My biggest fear is being ordinary.

Next Post

Finances: Don't Fall For The Forex Trading Hype - You Are Likely To Lose Your Money

Please login to join discussion

Recommended

Lifestyle: 6 Health Benefits Of Oats

Lifestyle: 6 Health Benefits Of Oats

6 February 2021
159
Understanding What Being Sex Positive Means

Understanding What Being Sex Positive Means

29 January 2020
289

Popular Stories

  • Kenyan Musician J. S. Ondara Nominated For A Grammy Award For His Album Tales Of America

    Kenyan Musician J. S. Ondara Nominated For A Grammy Award For His Album Tales Of America

    20 shares
    Share 8 Tweet 5
  • The Singlehood Series: I’ve Been Secretly Seeing My Ex For Years

    111 shares
    Share 44 Tweet 28
  • He Kept Her Waiting Around For A Marriage Proposal, But He Never Seemed To Be Ready To Settle Down 

    8 shares
    Share 3 Tweet 2
  • The Singlehood Series: I Became Very Picky About The Men I Dated In My 20s Because Of My Family Background And Now I Regret It 

    127 shares
    Share 50 Tweet 32
  • Sex: Household Items That You Can Use As Lube (And Those To Avoid)

    448 shares
    Share 179 Tweet 112

Potentash Blog

Potentash is an award-winning lifestyle blog. We publish lifestyle content that intersects with health, women, beauty, travel, business, relationships, finances and entertainment.

Explore

  • The Singlehood Series
  • From Stairs To Ramps
  • Man Around Nairobi
  • Pearls And Heels
  • Personal Finance
  • Food + Beverage
  • Editor’s Pick
  • Reviews

Get the Potentash Newsletter

  • Newsletter Archive
  • Subscribe
  • Frequently Asked Questions
  • Privacy Policy
  • Contact Us

Copyright © 2023. Potentash, In Partnership with Decima

Welcome Back!

Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
No Result
View All Result
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books

Copyright © 2023. Potentash, In Partnership with Decima