Bungoma county economy is SME solution

BUNGOMA COUNTY ECONOMY

The issue of Bungoma county economy seem not generating serious debate apart from the revival of Pan paper, restructuring of Nzoia sugar company, and the possibility of Kitinda.

The people who want to policy makers of the county when you closely go through what they have sounds as if the 1970 and 1980 economic blue prints.

Most of this blue prints advanced by the government failed, so our leaders to generalize about creating industries for our people is misleading.

These leaders have to understand something to do with the aspects of Global Value Chains(GVCs).

GVC is a chain of activities which can be divided among mulitple firms in different geographical locations to bring out a product or a service from conception to complete production and delivery to final consumers.

Participation in GVCs gives Small Medium Enterprises (SMEs), the opportunity to attain financial stability, increase productivity and expand markets.

Thus in simple understanding is that GVC allows SMEs to participate in the global economy.

The problem is that policy makers may not be supportive to SME s to enhance their role in the global economy.

WE have to make policy makers in the county to focus on facilitating the SME entry to GVC.

Research shows that in the globalized economy, competitive advantages can be created in any sector.

So they have to understand opportunities both mature and emerging sectors that offer SMEs the potential to integrate into GVCs.

We need to assess the concentration and interest the leaders exhibit in fostering skills development, dynamics and innovation of SMEs, to propel them meet International standards.

So are our leaders prepared in working on SMEs promotion and export promotion activities in order to adapt them to new realities?