Accra, Oct 14, GNA – The Vodafone African SME Summit opened in Accra, on Thursday with a call on Small and Medium Enterprises (SMEs) to look at collaboration in the execution of big ticket deals and contracts to be able to beat the competition.
The panelists, who made the call said, it was necessary for the SMEs to come together to make things happen and deliver on contracts rather than trying to do it alone, saying that was the only way to ensure the growth and sustainability of the businesses.
Professor Pikay Richardson from the Manchester Business School, a member of the panel, said all over the world business trends were changing from competition in favour of collaboration.
He said while in the past companies were asked to dwell more on their competitive advantage, the best strategy now was to even collaborate with one’s competitors to be able deliver the goods.
“In today’s world the best option is to collaborate,” he added.
“Sometimes people don’t feel safe when you talk about partnerships but get into a kind of collaboration with somebody else and that can ensure you more ahead,” Prof. Richardson added.
With Vodafone as the headline sponsor, the two-day Vodafone African SME Summit is running from 13th to 14th October on the theme: “Entrepreneurship- Being a Ready Business.”
The Summit is organised by events and marketing communications firm, Creative Trends, and would provide SMEs opportunity to learn from major industry players and also understand business growth essentials.
The summit would also provide networking and mentoring opportunities for SME owners and avenues for them to showcase their products.
Mr Yaw Asamoah, the Convenor of the Summit, said SMEs were important players for accelerated economic development and there was the need for entrepreneurs to learn new skills for sustainable businesses.
He said the seminar had been designed to empower and offer SMEs with essential business knowledge and solutions to help increase their productivity, drive efficiency and increase growth.
The African SME organisation defines medium enterprises as organisations with revenue base of up to $30m and employing up to 300 people.
Small enterprises are those with not less than 100 employees and an annual turnover of US$5 million, while micro enterprises as those employing not less than 10 and with not less than US$1 million annual turnover.
Among the speakers are Professor Pikay Richardson from the Manchester Business School, Professor Matthew Tsamenyi from China Europe International Business School (CEIBS); Mr Dhananjay Tripathi, and Mr Victor Yaw Asante of First National Bank.
The summit is also supported by First National Bank, Phoenix Insurance, the China Europe International Business School (CEIBS), the National Investment Bank (NIB), with Graphic Business as the main media partner.