STANDARDS Association of Zimbabwe (SAZ) is developing a standards framework to help micro, small and medium businesses (MSMEs) in the country standardise their products according to their different stages of development, NewsDay Business can report.

Speaking at the Midlands MSMEs expo in Gweru recently, SAZ head of marketing and business development, Nyasha Mutseyekwa, encouraged small operators to get their products certified.

“I want to encourage you to get your products tested and approved by SAZ, according to Zimbabwe’s standards, because you will find that what is standard according to our requirements, will be accepted everywhere,” she said.

“The advantage is that the moment people out there know it was tested by the Standards Association of Zimbabwe, they will accept that product. To make compliance easier, we are in the process of developing a standards maturity model that would be of great help to SMEs to be able to standardise their products according to their different stages of development.

“We need to encompass everyone and anyone in the effort to improve exports for economic development. I know when you start a business you are trying to get from micro, to end to medium, to small enterprises it is a part of the economic development. To achieve that, we need to collaborate with you, SMEs, so, this maturity model will guide you through it.”

Midlands Provincial Affairs and Devolution minister Owen Ncube urged MSMEs to formalise their businesses for growth and success.

“Some of the benefits of formalisation include: access to formal credit channels reducing reliance on informal lenders, government recognition enabling MSMEs to obtain necessary licenses and registration, making them eligible for government schemes and incentives,” he said in a speech read on his behalf by the director of economic development in the Midlands province, Kosheni Mtisi.

“They would also have increased credibility with customers, suppliers and partners and improved management as formalisation encourages better record-keeping, accounting and management practices.”

He noted that the MSMEs had potential to drive innovation, employment creation, and economic development, hence the need to support the sector, especially widening their access to financing.

Midlands SMEs chairperson Bigboy Murenga hailed ZB Bank for demonstrating full commitment towards supporting the growth and development of SMEs in the province.

“We have been educated about how we can be eligible for financial assistance. Of course, we did not take up this chance to the level of expectation,” he told NewsDay Business in an interview.

“Usually exhibitors are charged to showcase what they have, but ZB gave us a rare chance to showcase our products free of charge. Above all, a lot has been said on how we can formalise and how we can be able to get financial assistance.”

The expo ran under the theme: Accelerating SME growth through financial partnerships. — NewsDay