Business disruption: the new normal
Unlocking growth in small and medium enterprises is a conversation that has been doing the rounds for a while now. Post COVID- 19 and the last credit cycle, small and mediumsize enterprises are facing compounding challenges. Governments and other institutions worldwide are launching programs to provide them with advisory support needed to meet the moment.
Many businesses and institutions the world over have, in the past years, launched accelerator programs, incubators and provided funding support for small and medium- size enterprises to try and best support these smaller businesses. To create sustainability and drive growth, the approach to enabling SMEs to thrive needs to be prioritised.
At this year’s 16th National Business Conference, under the theme, Roadmap to High Income: Accelerating Transformation, Dzene MakhwadeSeboni, CEO of Mascom Wireless Botswana, attended and moderated the plenary on ‘ Strategies to Accelerate SME and Entrepreneurship Development for Sustainable Growth’.
The session was headlined by keynote speaker, Phillip Kiracofe, Start- up Bootcamp Afritech, who unpacked and shared various insights and knowledge as a subject matter expert.
In her introduction of the plenary, Dzene shared: “SMEs represent an important sector in terms of livelihoods for hundreds of thousands of people. In Botswana, SME’s account for nearly 35percent of Gross Domestic Product ( GDP) and similarly contribute nearly 70percent to formal sector employment.
“The need to support, nurture and scale this sector as well as the entrepreneurs behind it, is an important strategy to Botswana for it to diversify the economy, create jobs and build competitiveness.” She also highlighted that SME’s need to be scaled to international levels and best standard so that they are a sure success.
“If we can provide the right opportunities for our young people, we will be able to tap into their energy and ideas and create more employment and wealth across Botswana and the continent.
You don’t have to look far to find great examples of young entrepreneurs already showing the way,” Dzene asserted.
From her perspective, she particularly felt Kiracofe, had some thoughtprovoking words on disruption as an existential need in every ecosystem of business. “Your only choice is do you want to be disrupted or to disrupt yourself.”
Business disruption has become a hot topic – and it’s not just a passing trend, it’s the new normal. Whereas a decade ago, business disruption was the rare exception, it is now a reality that companies face on a regular basis.
The major cause of disruption is the rapid advancement of technology and globalization, which allows new business models to be introduced at an ever- increasing rate and with rapidly declining costs. The truth is, at any moment your company is most likely either disrupting other companies or being disrupted.
One key to surviving in a world of disruption, where the external environment is changing at lightning speed, is to change the game internally. This requires accelerating your speed- of- execution as well as your agility to seize new opportunities.
As the CEO of Botswana’s leading telecommunications network, Dzene is a firm believer of acceleration for sustainable growth. In addition to all the strides Mascom is taking under her visionary leadership towards digital transformation and ensuring our nation meets the Forth Industrial Revolution ( 4IR) ambitions, she believes entrepreneurs and SME’s are key in unlocking new sources of capital and being part of the global value chain.