Gauteng Business News

Send  Share  RSS  Twitter  27 Aug 2008

Finance: Supporting SME’s through Research Initiatives


Recent Gauteng Business News

Financial institutions have a vital role to play in assisting and developing the Small and Medium Enterprises (SMEs) to become viable and sustainable businesses. Recognising that this sector is a primary source of job creation and economic growth in South Africa,Gauteng, Standard Bank is committed to the development of the SME sector through empowering and enabling SMEs through research initiatives and knowledge sharing events. 
Thys Buitendag, Director of Business Banking for Standard Bank says, “Standard Bank has always been congnisant of the difficulties that SMEs are faced with when running their businesses. We are therefore involved in many research initiatives in order to gain knowledge and keep fully up to date on how we can assist SMEs.  We can only add value through having a clear understanding of what knowledge SMEs are lacking in the current markets and imparting this information.

 “As part of the Bank’s commitment to sustainable development of SMEs we have always strived to make a tangible difference with the information we provide to SME’s as evidenced through our ongoing involvement in initiatives such as the SME survey, The Global Entrepreneurship Monitor (GEM), Franchize Factor Survey Results, SMME Business Summit at the Soweto Festival, Espresso Events, The Letsema Learnership Project, Small Capital Guide, The Rocking Future Road shows and the Gauteng Business Leader of the Year, to name a few,” says Buitendag.

He says Standard Bank is committed to helping entrepreneurs’ combat day-to-day obstacles through these initiatives and its overall efforts are geared towards helping these entrepreneurs become viable contributors to the economy.

“In order to achieve this we need to look beyond traditional banking delivery channels to provide information into SME businesses that can assist them to be viable, sustainable and profitable. Involvement in these initiatives also assists the Bank in improving the level of our involvement with business owners,” says Buitendag.

“Standard Bank is continuously provided with opportunities to participate in initiatives whose main purpose is to facilitate growth in this ever growing market. “Therefore Standard Bank chooses those initiatives that invest in skills and knowledge ultimately turning SME businesses into viable entrepreneurial successes.” concludes Buitendag.

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