ENTREPRENEURSHIP ENCOURAGEMENT STRATEGIES.

Successful small business development requires overcoming many hurdles. The specific hurdles that are most critical to overcome vary from community to community. Nonprofits that successfully encourage entrepreneurship often adopt an institutional strategy that focuses on overcoming one or more particular barriers. While there are many specific institutional strategies, they may be grouped into the following six approaches:

   Technical assistance

   Access to markets

   Links to social networks

   Cluster or sector development

   Capital investment

   Social ventures

For each of these strategies, the core practices described earlier can be thought of as the “engine inside” that helps to power the strategies. No matter which strategy the institution is employing, its ability to help entrepreneurs to succeed will depend critically on how well it implements the core practices described earlier: maintaining a focus on markets and customers, developing their work-forces, and forging innovative partnerships. This section will describe one of the six strategies, and provide several case studies illustrating it.

   Technical assistance and training

Organizations that offer technical assistance and training programs to small businesses aim to enhance the management skills of current and would-be entrepreneurs and/or their employees. The goals and delivery mechanisms for the technical assistance and training programs vary with the business skills targeted. For technical assistance, the staff of a small business development organization or consultants they hire will typically provide direct advice and hands-on support to business owners. Conversely, rather than offering a one-on-one experience, small business development organizations usually provide training programs to a group of students or through virtual, self-directed courses. Yet, technical assistance and training programs share a similar objective: to help business owners and/or their employees acquire various skills that may include those needed:

• In specific types of businesses (e.g. Manufacturing or Retailing)

• By specific classes of entrepreneurs (e.g. Minorities or Youth)

• At various levels in organizations (e.g. Executive or Entry level)

• To perform specific functions (e.g., marketing or accounting)

Example:    HOUSE OF ARCH

HOUSE OF ARCH is a foundation that started late 2009 here in Nigeria, it is a foundation set up to develop Africa entertainment and fashion as well as being a charitable organization. Strengthening the competitiveness of the sector with a three-part strategy;

Workforce development to improve workers’ skills, knowledge, and abilities workplace development to improve companies’ processes and productivity;

and demonstration and simulation to provide new production, management, and communication technologies in the entertainment and fashion industry.

It was housed on KAMPAINE KONSULT, which hosted training activities and demonstrations at its state-of-the-art. For over 8 Months, House of Arch has not cease to receive invitations and awards after the trainings from corporate organizations, religious bodies and governmental bodies.

With the advent of Applied Competitive Technologies, which provides similar supportive services to stakeholders in these sectors, it has enhance the productivity of this organization and others through the trainings received.

Kampaine Konsult provides these trainings in business skills as part of their core curricula and through internship and community outreach programs. Microenterprise development programs typically include technical assistance and training in business skills among their services.

to be continued in the next edition

Small Business Development Strategies.

Three core practices are key to successful small business development.

Small business development programs have been found most likely to succeed in improving business growth and profitability when they follow certain core practices.

• Maintain a focus on markets and customers. Successful small business developers analyze their prospective market(s) and develop products or services that offer a clear competitive advantage. Developers embody their vision in business plans that articulate, among other things, the size and growth rate of the market, the purchasing practices of the customers, why customers will choose the new business over others, what financial resources are required to start and maintain the business, and where those resources will come from.

In general, nonprofits that have succeeded in supporting small businesses choose interventions designed to improve the business environment for all small businesses in a community. They also target specific businesses in important sectors with a few well-designed services, preferably those in high demand and with significant benefits for the community.

• Develop the workforce. Successful small business development inevitably requires some measure of workforce training and/or human resources services. Nonprofits seeking to grow small business include these activities among their investments.

• Forge innovative partnerships. Business start-ups require a host of services beyond what the staff of most small business development organizations can provide on their own. Similarly, successful business development programs rarely provide all their services themselves; they work with partners—especially those in the private sector—to achieve their goals.

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