SimplyBiz, a free business support platform powered by Nedbank, has launched its groundbreaking Trading in Africa Toolkit aimed at empowering small and medium enterprises (SMEs) in South Africa to expand their reach across Africa.
The toolkit was inspired by the numerous requests SimplyBiz received from its members for more information about trading beyond South Africa’s borders, including regular questions about compliance requirements, market opportunities, and trade treaties.
The Trading in Africa Toolkit is part of SimplyBiz’s focus on empowering small businesses to grow, scale and be sustainable.
SimplyBiz offers business owners advice, inspiration, access to mentorship, educational articles, and webinars, as well as finance and market access opportunities.
The Trading in Africa Toolkit answers pertinent questions about expanding into African markets and demystifies cross-border African trade. It also provides SMEs with the knowledge and tools they need to take advantage of Africa’s wealth of potential to build businesses.
The African continent is brimming with immense business opportunities thanks to its rapidly growing and increasingly urbanised consumer market, much of which comprises aspiring and upwardly mobile youth.
This means that, for SMEs on the continent, there is unmatched potential for entrepreneurial growth across all 54 of Africa’s diverse nations.
That said, capitalising on Africa’s myriad investment opportunities is not a simple feat, given the complex web of regulations, cultures, and trade environments that need to be navigated.
‘Sustained business growth requires increased income from new markets coupled with diligent expense management,’ explains Alan Shannon, executive head at Nedbank Small Business Services and Private Clients, ‘and while the digital age has expanded information access, clear and objective global trade resources are still in short supply.’
Shannon says that the SimplyBiz Trading in Africa Toolkit addresses this gap, delivering essential insights to drive informed and profitable expansion across Africa.
Developed in close collaboration with In On Africa (IOA), a pre-eminent pan-African research and advisory firm, the toolkit harnesses more than a decade of IOA data-driven market intelligence and on-the-ground experience across all 54 African countries.
This powerful knowledge base has been distilled into practical guidance for SMEs, giving them an in-depth understanding of each nation’s regulatory environment, cultural nuances, trade policies, and sector opportunities.
‘The toolkit’s comprehensive overviews and analyses, covering the full scope of the African trade landscape, will undoubtedly prove indispensable for SMEs looking to strategically evaluate Africa’s market potential,’ says Shannon, ‘and thanks to IOA’s rigorous research methodologies, toolkit users can be assured of accurate and up-to-date insights and valuable economic indicators.’
Crucially, the Trading in Africa Toolkit does not simply diagnose the challenges of intra-Africa trade; it also provides tailored strategies to overcome complexities and mitigate risks. In this way, the toolkit is a highly practical playbook for SMEs, detailing best practices they can leverage to profitably navigate Africa’s diverse markets.
Shannon describes it as an accessible, independent and essential African expansion resource. ‘The ultimate mission of this toolkit is to cultivate informed and strategic decision-making that unlocks Africa’s limitless economic potential and empowers entrepreneurs to introduce their products and services into new African markets,’ explains Shannon.
The toolkit is available for free on the SimplyBiz website at simplybiz.co.za and shows the commitment of both SimplyBiz and Nedbank to fostering an enabling an environment that encourages SME growth through extensive market access, practical tools, business guidance and networking opportunities.
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