SMEs Unite: Budget Breakdown at 5th ‘Noubiznes’ Meet-up

The 5th edition of the Noubiznes Meet-ups, organized by CIM Finance, brought together around 50 entrepreneurs and small to medium-sized enterprises (SMEs) under one roof.

The primary objective of this event was to dissect the new budgetary measures for the 2024-25 fiscal year and analyze their implications for the SME sector.

CIM Finance invited two industry experts, Amédée Darga, Managing Director of Straconsult, and Afsar Ebrahim, Founding Partner of Kick Advisory Services, to share their insights on the recent government’s guidelines and their potential impact on SMEs.

Afsar Ebrahim highlighted the upward revision of the minimum purchasing power, now set at Rs 20,000, and the increase in pension amounts, presenting new avenues for SMEs to develop their offerings.

These measures are offering opportunities for SMEs to better integrate into the market and increase their presence in the local economy.

Ebrahim also emphasized the importance of autonomy and resilience among entrepreneurs in the face of current economic challenges.

He encouraged entrepreneurs to leverage government resources and develop independent strategies to ensure the growth and sustainability of their businesses.

Amédée Darga encouraged entrepreneurs to take advantage of the international subsidy of Rs 500,000 per year, designed to open new channels and promote local products and services abroad.

He also suggested that SMEs utilize existing government programs to innovate and develop their businesses.

Additionally, he proposed a practical approach to internationalization, recommending that entrepreneurs focus on their core business while using international experts to explore export opportunities.

The participants gained concrete insights on how the new budgetary measures can be applied strategically in their daily activities.

The Noubiznes Meet-ups, held quarterly by CIM Finance, aim to provide support to entrepreneurs by addressing crucial themes directly related to their concerns.

Anielle Jia, Head of SME at CIM Finance, explained that these meetings aim to make complex concepts accessible and facilitate networking between entrepreneurs, essential for business development.

The sessions did not only involve informal exchanges; a online platform called Noubiznes has also been created, providing entrepreneurs with access to practical advice and varied resources, thus supporting their continued growth.

The next sessions of the Noubiznes Meet-ups will continue to explore critical challenges and opportunities for SMEs, contributing to the expansion of the entrepreneurial ecosystem in the country.

Source: Le Mauricien