Stanbic Bank Zimbabwe has begun a series of business clinics at its Incubator Hub to help many selected small and medium-sized enterprises tackle challenges they face and improve their business prospects and processes.
The first clinics, which have been dubbed Level-Up Business Clinics, following the Starter-Up Incubation programme the bank inaugurated last year for about 40 entrepreneurs, some of whom are among the 63 entrepreneurs expected to benefit from this clinic.
Auxilia Kambasha, Head of Enterprise Banking, emphasised the Incubator Hub’s role in supporting SMEs by understanding their unique challenges
“For Stanbic Bank to identify the best interventions for entrepreneurs we need to appreciate their challenges and their realities, such as tax compliance, market access difficulties and funding limitations,” she said.
“If a business is not registered as a company and the books are not in order, it is difficult to obtain a bank loan. If a business has employees, it follows that a human resources policy or structure is required. Family businesses need a clear assignment of roles and a succession plan so that the business can continue for generations to come.
“Where some of these things are lacking, we offer advice and training to improve the business’s capacity and prospects of success,” she said.
Some of the entrepreneurs who attended the Starter-Up programme have begun to see an increase in revenues, while others are now employing more people, Kambasha said.
The Level-Up clinics, which will continue until May, involve diagnosis and treatment, she said. The core objective is to continue building capacity for SMEs.
There are five clinics, each dealing with a particular area. These are financial management, human resources management, branding and marketing, funding and mentorship. Each clinic has six sessions. Participants have been assigned to the two clinics judged most appropriate for their needs or three at the most, Kambasha said.
Towards the end of the programme participants will make presentations on what they have learnt, how they intend to go forward with their business and, if they are in need of funding, how much funding they require.
Those judged to have proved that they are ready to grow their business will have the opportunity to obtain funding from the bank.
There will be three follow-up sessions after the programme has ended to assess how the businesses are doing and what further may need to be done.
Stanbic Bank’s business clinics represent a strategic effort to bolster the SME sector by equipping entrepreneurs with essential skills and resources, thereby contributing to Zimbabwe’s broader economic development.
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