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Facilitating Access to Finance for Small Businesses
…the Small Business Enterprises Centre – Samoa…
“helping small businesses grow”
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WHAT IS SBEC?
A quasi-government organisation set up in 1994 to develop small
businesses in Samoa
SBEC is managed by a Board of Trustees with 8 reps, 2 from the
GoS, the NZHC and the Private Sector.
Major Donors: GoS and NZHC
Main offices in Apia and Savaii - Savaii Business Centre
5000+ clients supported from all sectors
500+ plus trainees per annum
Accredited in 2013 as a Post and Secondary Education Training
provider by SQA
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MANDATE:
To provide assistance to all businesses in Samoa with the
exception of multinationals. Our main targets are the micro &
small enterprises with the following characteristics:
No of employees: Up to 5 full timeProduction Process:
SimpleFinancial system: Cash flow accounting and little
documentationCredit Sources: First or second time access to
creditMarket: Predominantly local marketLegal Structure: Sole
proprietorship / partnership / cooperative
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Sustainability of SME’s
Access to funding
Limited business opportunities
Lack of capacity building
Lack of collateral
Cultural and family obligations
Land ownership
Limited market access
Lack of available resources
KEY CHALLENGES:
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From SBEC to “SAMOA BUSINESS HUB”
SBH Aspirational Goal
“ To be recognised as the preeminent organization in Samoa that
provides best practise services and support for the development of
micro, small and medium to large businesses.”
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Samoa Business Hub -SBH
SBH Vision“A sustainable economic and social life for all
through business development.”
SBH Mission“To lead and facilitate development support
for sustainable business growth.”
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4 Core roles
1.Organization sustainability
2.Quality services
3.Stakeholder Satisfaction
4.Value for money in all activities
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Guarantee Scheme - Restructure
Streams
Targeted
Business
segment
Training Duration Access to
finance
Other support
services
Stream 1 Micro & start
ups
Business
Planning
training manual
1-2 weeks $5 k- $10K
GBSC
$10 k -$20K –
100% gtee
Advisory and
networking
during cohort
meetings
Stream 2 Small
(existing
businesses)
Elevate
Programmes
2-3 months $20K- $50 K
Gtee
1on1 mentoring
Cohort support
Other
networking
events
Stream 3 Medium to
Large
enterprises
Accelerator
Programme
10-12 months $100K Gtee &
other
alternative
funding models
1on1 coaching &
mentoring with
specialty coaches
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ISSUES – WOMEN AND ICT
1. Cost of setting up
2. Cost of ongoing maintenance
3. Access to ICT services
4. Access to equipments
5. Ability of trainees to understand and use ever changing
technology
6. It needs ongoing training
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GBSC – Green Business Support Credit
Benefits:- Use as stepping stone for entreprenuersto graduate
into the formal Banking system- Debt Insurance to address the issue
of
collateral- Disaster Insurance – to address the
issue of natural disasters.- Use of Mobiles – for ease of
making
payments /Savings
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Thank you for your attention!!
