peanut butter mill.jpgSmall to medium scale entrepreneurs have expressed mixed feelings on the performance of the sector in 2010.

 

As 2010 closes tonight, emerging business people say there has been a varying degree of successes and challenges which affected business operations.

 

Advantage Flooring Managing Director, Mr Evans Kurangwa, who scooped the IODZ Director of the Year for 2009 in the SMEs category, said business was positive due to increase in construction activity for commercial properties.

 

“From a business perspective, 2010 was a good year, we managed to gain entry to new markets,” Mr Kurangwa said.

 

In spite of this positive trend, Mr Venson Shava, a medium scale beverage manufacturer, expressed different views, bemoaning the lack of long term capital which was required to increase production.

 

“We faced a lot of challenges in terms of getting cheap funding. There is need to recapitalise and the moneys [from banks] are too expensive,” said Mr Shava.

 

Mr Shava highlighted that cheaper imports of beverages and other products on the local market also posed stiff competition for locally produced commodities.

 

Government assisted several SMEs to exhibit their products at the six month Shangai Expo in China, where they clinched deals worth US$500 million.

 

The Small Enterprises Development Corporation (SEDCO) also distributed funds to emerging businesses under its loan booth facility.