Jobs and the Value they create for Small Businesses
Economies are ecosystems, in essence made of various marketplace players who each are critical to the survival and growth of the system. In developing economies, governments are major investors in boosting infrastructure, health, education, security, to name a few. In some instances like Rwanda’s, the Government has employment creation as a major priority and works as a catalyst for the growth of a robust private sector which can in turn fuel the economy through job creation, production and more.
Small businesses often don’t see themselves as the key players they are. Yet, they play an instrumental role in filling the gaps in service delivery, small scale production, last mile distribution and specialising in geography niches and much more. In Africa, small businesses are driving innovation in responding to the challenges within their economies. In stable, yet developing, economies, small businesses have the opportunity to grow into much greater players, if they are able to leverage in a timely manner the resources presented to them.
One key resource that small businesses can leverage is talent. Fred Swaniker, the founder of the African Leadership University, a thought leader and promoter of the economic opportunities that Africa presents in this century, speaks often about building a scalable business from the get go. A small business can use its small scale operations as a model that can be scaled to tap into a larger market which is Africa. Fred speaks fervently about working on your business and not in it — as a means to allow you continue to drive it strategically.
This is an exciting time in Africa, and East Africa in particular. The timing is just right! We have so many untapped industries, many levels of entry for entrepreneurs across the economies, and, like never before, technology is putting so much power in the hands of the small entreprise. Enabling them to compete locally and regionally equally as would a much more established entreprise.
Having worked with a good number of innovative small businesses, I have seen that entrepreneurs often fall into the trap of working for their businesses, and failing to grow the business by building an effective team. No doubt, it’s no easy task to venture into hiring and retaining good talent. The nitty gritties that go into perfecting models, the hustle of raising financing, the time it takes to train and build a culture make this conversation one that is debatable.
However, bringing on board great talent is almost obviously the only way that one can give their business a chance to grow. Think about it for a minute. When thinking of hiring, it’s time we shift our thinking from the responsibility that this additional hire creates for the business. Let’s start thinking of the value that this hire can create for your business. Let’s think out of the box, identify the most pressing needs, and hire especially for that. In my upcoming articles, I am going to explore ways that you can rethink hiring, ways you can creatively get that support you need for your business by engaging young local talent. It’s the 21st century, jobs don’t have to be the traditional seven to five. Jobs will be about value creation.
And bringing us back to the larger picture, every job you create fuels more capacity into the economy, in ways you often underestimate. Let’s all step up our game and move towards stronger and bigger business.
