Small, Medium and Micro Enterprises have been urged to be innovative and adopt new technology to widen their business scope.
Makgato-Malesu told entrepreneurs attending this year’s Local Enterprise Authority (LEA) 2014 SMME Pitso, to focus their businesses beyond the local market and compete globally.
The minister said Botswana’s population was too small to attract foreign investors, thus entrepreneurs should be innovative to compete with the regional and international markets.
She said through technology, small business had been freed from restrictions of the traditional modes of advertising.
“Entrepreneurs are able to reach new and existing customers faster and at a low cost through the use of internet, which involves websites and online product sales.
Technology adoption into one’s business is also a key ingredient for success as it enables businesses to become cost efficient,” she said.
She also observed that traditional manufacturing processes could be coupled with new technologies to increase output and reduce unit costs, thereby enhancing overall productivity.
Makgato-Malesu further indicated that government continued to provide a platform for a vibrant and innovative SMME sector through its different organisations and programmes such as the Botswana Innovation Hub and the Botswana Fibre Networks (BOFINET).