together provide an end-to-end trading, import/export, financing, shipping, customs and foreign exchange facility.
On gender parity in enterprise development, Standard Bank has learnt that all businesses need support in accessing markets, finance and skills. “Where women entrepreneurs differ from their male counterparts, however, is in not having the abundance of networks, guidance and mentors that men can generally access,” says Cooper.
Agility – the ability to let go and do something else – is also a critical cultural attribute for SMEs in the new economy To capitalise on the opportunities presented by technology, it is essential that Standard Bank assists SMEs to embed the ability to tilt within their DNAs. While commitment to a concept is important, agility — the ability to let go and do something else — is also a critical cultural attribute for SMEs in the new economy.
While the SME sector is undoubtably where innovation and fresh thinking develops, it is also where risk resides. “This presents Standard Bank an exciting opportunity to fund the growth and expansion of Africa’s SME sector,” observes Cooper. An ecosystem view also broadens the assessment lens, allowing the consideration of alternate criteria in addition to cash or physical collateral in the construction of informed funding solutions.