Despite Small and Growing Businesses (SGBs) being the biggest employers and having a significant contribution to the GDP in Kenya and Uganda, more than 80% close within the first year of operation. These businesses are disadvantaged by the systemic challenges they face at inception which include lack of adequate managerial training, lack of adequate finance and limited access to credit, in addition to a lack of access to markets, and inadequate knowledge and skills. Additionally, the current COVID-19 pandemic continues to take its toll on the businesses and the environment that they operate in.
TBN-EA has built on the experience gained over the last four years to continue providing support to businesses in Kenya and Uganda, more so during this critical period. TBN will:
• Transform Businesses through its Business Continuity and Recovery Program.
• Unlock Transformational Capital by connecting businesses to TBNs local and international investor network.
• Develop a Transformational Community through quarterly alumni events that will also act as a platform for peer-to-peer interaction for the businesses. In addition, TBN will carry out post program visits to support implementation of lessons learnt during the program.
• 200 SGBs will receive business advisory and high-quality technical assistance. There will be another 1 million individuals served by these businesses will be impacted indirectly by the program.
• >80% of the businesses engaged survive the COVID-19 pandemic.
• Alleviation of poverty through creation of 2000 new jobs
• Businesses register an annual revenue growth of >12%
• 20% of the businesses raise over USD 6 million as expansion capital.
• Businesses will join TBN-EA community where they will continue to mentor each other, form partnerships, and hold each other accountable. This is part of TBN-EA’s vision to form a value-based community of like-minded entrepreneurs and promote free and fair competition.