Businesses are moving to online spaces, is this a threat or opportunity to South African SME entrepreneurs? There is a great roll out of internet infrastructure in the country, are the SME entrepreneurs equipped to deal with this shift of business dynamics? Are SMEs resilient to external market changes by effectively adapting with the help of strategic communication techniques?
High failure rate in small businesses could also be attributed to the communication function. SMEs are increasignly challenged in clearly communicating business goals to stakeholders, their team, prospective funders and customers. The two communication challenges facing most SMEs is the inflow and outflow of information, in the form of market analysis and presenting services/products to attract customers to see value in the product/service.
What is Market-U?
Biz M8 established Market-U, a national entrepreneurship-communications capacity building programme. In light of business migration to online spaces, Market-U seeks to capacitate SMEs with advanced Information Computer Technology (ICT) skills and knowledge to market themselves effectively, improve competitive advantage and seize to be victims of the ‘digital divide’ gap. Investment in specific ICT training and education promises a greater return on investment when combing with it with investment in internet infrastructure.
What are Market-U’s main aims?
- Capacitance of entrepreneurs with internal and external strategic communication techniques
- Contribute towards the general initiative of SMEs growth through marketing as a critical factor in businesses
- Focus on one of the neglected topics of SMME growth
- Assist entrepreneurs to measure the impact of their marketing practises
- Give entrepreneurs a set of tools to clearly define and communicate their problem statement, their intervention and expected results to their stakeholders respectively/accordingly
- Work together and compliment other agencies in the field of SMME development
- To inspire a culture and mindset of quality marketing practises
- To provide marketing tools to assist entrepreneurs drive successful businesses of any type and size