Strathmore Business School (SBS) plans to launch a $5m training centre for Small and Medium EntrepME's in Kenya. 

SBS signed an agreement on Thursday with US-based capital advisory company, Excelsior Firm, to set up the Centre for African Mid-Markets Expansion. The centre will offer consultancy services to the Small and Medium Enterprises (SMEs) sector.

'The entrepreneurial spirit in the country is quite impressive but it still needs a bit of tweaking in terms of support for them (businesses) to stay afloat, build top teams and easily attract financing,' said Excelsior's managing director, Javier Ewing.

A pilot program is scheduled soon before the formal roll-out starts in March.

Many SMMEs in Kenya fold within the first three years of being formed due to various reasons like lack of managerial skills, capital and technical support. But the sector's fortunes are already turning because banks are tailoring product offerings for small businesses.

Strathmore hopes the business school will deal with challenges faced by small businesses.

Source: Business Daily