'Zim can create a $1bn economy'

HARARE – Zimbabwe has the potential to create a billion dollar economy by empowering its entrepreneurs and small to medium enterprises (SMEs), a local firm has said.

Global Entrepreneurship Trust Club (Get Club) said SMEs play an important role in the world economy and contribute substantially to income, output and employment.

“In Japan SMEs constitute 98 percent of all enterprises and account for 70 percent of employment and their SMEs come in varieties thus showing their positive contribution to the economy. This signifies that entrepreneurs are very significant for the growth and development of economies in developing and developed countries,” Get Club said.

The organisation further noted that Asian nations prove that SMEs can be economic leaders by demonstrating their ability to employ between 60 percent and 70 percent of their labour.

“Get Club has therefore started development of SME tools including holding seminars and workshops to further the entrepreneur development cause for Africa initially propping up Zimbabwean entrepreneurs,” the company said.

The membership based organisation, which will be launched this Saturday, is targeting to develop solutions that bring the entrepreneurial businesses to be bankable in order to attract capital for SMEs.

“Most entrepreneurs begin as sole traders and employ up to five people at their maximum potential due to a number of reasons including but not limited to poor record keeping, improperly managed financial records.

“Beginning with the local sector, we have set our sight on developing first generation millionaires coming out of Zimbabwe with an impact on Africa and its vast resources on the global scale,” Get Club said.

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