This week, IFC and key stakeholders are meeting in Mumbai, India, to discuss the latest version of the IFC SME Toolkit (www.smetoolkit.org), an online program that provides support to small and medium business entrepreneurs worldwide.
Sponsored jointly by IFC and ICICI Bank, the event is a forum for sharing experiences and lessons learned from around the world. IFC and partners will also focus on localizing and marketing the new SME Toolkit in India, building on recent success in South Africa.
What is the IFC SME Toolkit?
The Toolkit is a free online resource launched in 2002 to help entrepreneurs and small businesses access business information, tools, and training services so that they can implement the sustainable business management practices they need. It covers such areas as finance, accounting, international business, marketing, human resources, and legal. It is now available in 29 markets and 15 languages, reaching an average of 2.5 million visitors each year.
In most countries and regions where IFC works, small businesses generate the largest share of economic activity and employment. In these economies, small and medium enterprises account for more than 90 percent of all businesses. Typically, well over half the working population, especially poorer people, rely on them for employment and income.
For millions of people in these countries, starting or expanding a small business is the most promising and sustainable route out of poverty. But often the business environment is difficult, with costly regulatory hurdles, coupled with gender discrimination and limited access to affordable financing.
The Toolkit responds to the needs of small businesses in emerging markets, helping them enter the formal economy, improve operations, and grow their businesses using cutting edge information and communication technologies.
What's New?
The latest version of the Toolkit resulted from IFC’s partnership with the global technology company IBM, in a multimillion-dollar initiative to upgrade it and deliver state-of-the-art business information, tools, and training services.
New Features |
- Multilingual community forums
- User registration and premium content groups
- A global business directory and Web page builder
- Partner content syndication via a global repository
- Survey, form, and calendar builders
- Detailed market access, investment, and trade information on export-oriented countries for entrepreneurs who want to expand into other markets
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Meeting the Needs of Small Businesses
The Toolkit's upgrade builds on a 2006 survey and an independent review, which showed that it has provided substantial benefits to end users. Some key findings include:
- 67 percent of users who visit a Toolkit site more than once report using it to improve their business
- 90 percent of training workshop participants rate the Toolkit as a learning resource, and the workshops as "good" or "excellent"
The Toolkit has enabled many partners to develop a Web presence at low cost
- The Toolkit is reaching SMEs in developing countries as well as a broad range of business development service providers and support organizations
- The Toolkit has helped IFC support sustainable private sector growth, particularly in frontier countries
Many SMEs in IFC’s target markets are using the Toolkit effectively as a self-help tool. CD-ROMS are available to those without reliable Internet connectivity. For SMEs that need additional help, IFC and our partners can provide hands-on classroom sessions. Over 2,200 small business entrepreneurs have been trained to date.
The results so far have made it worth investing in the new and improved Toolkit to help create more jobs and fuel growth in underserved and emerging markets.
For additional information contact:
Thoko Moyo
Communications Officer
Phone: (202) 458 8517
E-mail:
tmoyo@ifc.org
Published on November 14, 2007
