Business Consultancy Fund - Brief Description
New market economies often offer few business development services and are poorly equipped to support the needs of emerging micro and small enterprises. To assist micro and small enterprises (MSEs) succeed in these environments, business centres and other advisory mechanisms must provide appropriate, targeted services. These services should fit the unique needs of MSE owners and strengthen entrepreneurial, managerial and technical skills. Despite the clear need for business advisory mechanisms, in most nascent market economies, MSE-targeted advisory services are not in high demand because: (i) entrepreneurs have no experience accessing expert advice and thus do not understand its benefits; or (ii) MSE owners cannot afford to pay for business consultancy services.
Figure 1: The Concept of a Business Consultancy Fund
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