While small businesses generated between 60 to 80 percent of the new jobs annually in the U.S. over the past decade, they are often hurt by the lack of skills, knowledge, and access to the information that larger businesses routinely use to grow and succeed. The same applies to small and medium enterprises (SMEs) in the developing world who also find that access to best practice and business management tools is a significant barrier to their growth and sustainability.
The SME Toolkit is a free program that enables entrepreneurs and small businesses to learn how to implement the sustainable business management practices needed for growth in areas such as finance, accounting, international business, marketing, human resources, or legal.
"Small businesses are the growth engines of the world's economies; yet their success rate is not as good as it could be simply because of a lack of access to good business management practices," said IFC executive vice president and CEO Lars Thunell. "Giving small businesses the information and new collaborative technologies they need, will help them grow and prosper."
In the U.S., the SME Toolkit will focus largely on women and constituent-owned businesses. Globally, the IFC has joined with local partners to launch the Toolkit in more than 13 languages in 24 countries, all of which can now take advantage of the new enhanced version.
Among the specially designed free tools are:
- An online calculator that helps small businesses determine their readiness for financing
- Free software to build a Web siteFree business forms used for employee performance evaluations
- Community tools such as online conferencing, blog capability, group calendars
- Survey and quiz builders to help small businesses make decisions, and
- A multilingual business directory to help small businesses link locally, regionally, and globally
Small businesses can also receive business training delivered via classroom workshops and partnerships with local support providers. The Toolkit can also help small businesses go global by providing detailed market access, investment, and trade information for the 64 countries most exported to.
Fletcher White, an entrepreneur who is opening up a Little Gym for young children in Clinton, MD, recently used the toolkit to help build his employee handbook, offer letters, and customer-service manuals. "I have found the Toolkit to be (a) virtual treasure chest for business management, planning, and human resources. I really appreciate the effort and technology IBM and the IFC have invested in the Toolkit to help freshmen entrepreneurs build and expand their businesses."
Local partners in each of the countries hosting the Toolkit, such as Elite in Nepal, Dunn & Bradstreet in Singapore, and FUNDES in Latin America, are responsible for making sure the more than 500 pieces of content, tools, and resources are customized, localized, and available in the language of their respective markets. These partnerships provide small businesses with local support, thus nurturing their businesses to improve their chance of survival and to generate more jobs. In the U.S., an Advisory Group will serve this same role to review existing content and identify new tools specifically for Black, Hispanic, Native American, Asian, and women-owned businesses.
"This truly is one stop shopping for small businesses and it levels the playing field. We know the tools that large businesses use most and we know the role technology can play in leading to growth. Now, every business can have the same chance to succeed. It's vitally important that we help small businesses who are the major employers and growth engines in developing markets," said Stanley Litow, vice president of corporate citizenship and corporate affairs. "These are just the kinds of tools that can help underserved markets be successful."
The Toolkit was launched by IFC in 2002. IBM has dedicated more than $1.6 million to transform the Toolkit and rebuild it on an innovative open source platform using top talent in IBM research. The Toolkit now includes new Web 2.0 features such as live chat, online forums, business directories, and survey capabilities to create a community where small and medium-sized business can collaborate—anywhere around the world. For example, a group of small businesses could gather in an online forum to devise a strategy to bid on a large supply contract rather than as separate bids. The community tools also create an opportunity for peer learning.
In the future the Toolkit will add new partners, markets, and languages and is planned to allow users to connect to it using wireless devices, such as cell phones. In developing markets, mobile devices are increasingly becoming the way users connect to the Internet, and sometimes the only way.
The Toolkit is expanding to reach the massive small business market in India, South Africa, and Brazil. The Toolkit is available in English and Spanish and translated in 14 other languages including, Nepali, Vietnamese and Urdu, with Hindi and Arabic set for release in 2007.
About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing capital in the international financial markets, and providing advisory services to businesses and governments. IFC's vision is that poor people have the opportunity to escape poverty and improve their lives. In FY06, IFC committed $8.3 billion, including syndications, to 284 investments in 66 developing countries. For more information, please visit IFC.
For more information about IBM, please visit IBM
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