Network established to support SMEs
Network established to support SMEs
The newly set up Business Development Service Provider Network (BDSP-Network) will help small and medium enterprises (SMEs) in Laos.
BDSP-Net is a network of companies, organisations, and individuals who can provide support in the form of consultancy, training and advice to SMEs. It was initiated by the Small and Medium Enterprises Promotion and Development Office (SMEPDO) in Laos.
Deputy Director General of SMEPDO and project manager, Mr Soutchay Sisouvong said, “at present, it is difficult for SMEs to get good advice and professional support for technical and managerial business problems, and advice on how and where to access business finance.”
“We would like to provide a platform on which SMEs can find a suitable expert who can help them to resolve business problems. Therefore we are initiating the formation of a network of service providers.
“Our goal is to improve the competitiveness of Lao SMEs. Several studies show that improving the accessibility and quality of so called “business development services” is an important aspect to achieve this aim.”
While in other countries, SMEs frequently use advice and consultancy services to improve their business performance, the concept of “business development services” is relatively unknown in Laos. The country's supply side is also in its infancy. SMEPDO intends to strengthen the supply side and stimulate more demand.
The network will provide advice in areas such as access to finance and SME funding, technical support, business management, marketing, business communication- including foreign languages- and information communication and technology.
The office is not providing these services itself, but instead refers SMEs to suitable members of its network.
The first constitutional meeting of the BDSP Network was held on July 19 at Vansana Riverside Hotel in Vientiane, led by Director General of the SME Promotion and Development Office, Mr Somdy Inmixay.
With participation from various consultancy companies, training institutions, and organisations, the Lao BDSP network has formally been established.
The network has an elected advisory board of seven members, with Mr Siamphone Chanthaphone, the director general of the Lao-India Entrepreneurship Development Centre (LIEDC), currently the chair of the b oard.
With the assistance of the Asian Development Bank (ADB) and Gesellschaft für Internationale Zusammenarbeit, a first annual work plan, which intends to improve the services offered by the provider network and raise awareness among enterprises, was drafted.
Companies, as well as institutions and individual consultants with expertise in business development or technical expertise, are invited to join the network. They'll be given the opportunity to be listed in the database's network, and thereby contribute to making the Lao SME sector more dynamic and competitive.vientiane times
