Grace Mugoya
29 June 2011
In a bid to build the capacity of Small and Medium Entrepreneurs (SMEs) the Institute of Certified Public Accountants of Rwanda (ICPAR) trained business owners and managers.
Peter Rutaremara, the president of ICPAR said that SMEs needed to improve their performance and get access to finance.
“For any financer to support SMEs, their operations should be in line with required business standards that include proper financial management records, business planning as well considering the law or registering the business among others,” Ruteremara said.
SMEs contributes approximately 98 percent of the country’s total businesses according to the 2008 Private Sector Federation (PSF) report.
Citing the findings of that report, the Chief Investment Officer of Business Partners International- Rwanda, Eric Rutabana, said SMEs need to prove their viability to financers if they are to solicit funds.
Business Partners International is one of the new entrants ready to promote and support SMEs not only through funding but with technical assistance in business.
“We are to identify challenges and weaknesses of SMEs so that we provide skills as well as providing financial support between 50, 000 and US$1m,” Rutabana said.
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