Mentorship critical to survival and growth of MSMEs – Sinapi Aba Trust
Many young businesses struggle to survive beyond their early years due to limited managerial skills, weak financial systems and the inability to navigate an increasingly competitive business environment. Stakeholders in the Micro, Small and Medium Enterprises (MSME) under Sinapi Aba Trust say structured business mentorship can help address these challenges and improve the prospects of emerging…
Businesses often struggle to endure beyond their formative years due to limited management skills, weak financial systems, and the difficulty in navigating a highly competitive business landscape. Organizations associated with the Micro, Small and Medium Enterprises (MSME) sector, through the Sinapi Aba Trust, assert that structured business mentorship can alleviate these issues and enhance the prospects of emerging enterprises.
Mentorship is seen as a crucial element in equipping entrepreneurs with practical skills, guidance, and professional networks essential for managing business risks, responding to market challenges, and ensuring sustainable growth.
This view was underscored during the graduation ceremony of the sixth cohort of the Sinapi Aba Trust/BMZ Mentorship Programme, which has trained 300 young women entrepreneurs in the informal sector. Dr. Mrs. Patricia Acheampong, Deputy Director of the Council for Scientific and Industrial Research (CSIR), emphasized that mentorship transcends conventional classroom training.
It establishes trusted relationships that assist entrepreneurs in identifying and tackling challenges within their businesses. She emphasized that mentorship fosters relationships to help entrepreneurs grow their businesses, providing a trusted confidant to encourage the adoption of effective models that can drive success.
The Sinapi Aba Trust Mentorship Programme was established to address the critical gaps that hinder the growth of entrepreneurs in the MSME sector, especially women. To date, the program has positively impacted over 2,000 beneficiaries. This six-month structured program pairs experienced mentors with mentees, blending classroom-based learning with practical and informal training sessions.
The curriculum covers key areas such as fraud management, employee recruitment and management, customer service, financial management, and other essential business competencies. The sixth cohort consisted of 300 entrepreneurs. Phyllis Desbordes, Program Manager at the Sinapi Aba Trust, highlighted that the program has evolved to create a sustainable support network among entrepreneurs.
A significant development in the latest cohort was the involvement of previous program beneficiaries as mentors. This approach created hubs of support for new mentees, amplifying the program's impact.
Feedback from participants underscores the transformative effect of this mentorship program. One program participant reported improved communication with customers, enhanced financial record-keeping, and the ability to leverage digital platforms for marketing. The mentee emphasized the importance of taking advantage of the mentorship opportunity, expressing confidence in the program's ability to empower women entrepreneurs to scale their businesses.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
