Small and Medium-sized Enterprises (SMEs) have been advised to employ competent staff to stem the risk of collapsing or incurring more debts in haphazard borrowing.
Kenya National Chamber of Commerce and Industry (KNCCI) vice chair James Ndung’u said employees are critical for any business to thrive.
“Human resource and capital play a crucial role in the growth and sustenance of SMEs all over the world,” he said. He said many SMEs in the country collapse because they fail to hire a team of professionals to run their services.
“For any business to thrive and grow, one needs to consider skills and expertise when hiring other than transforming the enterprise as a means of employment for relatives irrespective of their qualifications,” he added at a speech during a workshop which brought together SME owners, capital and human resource specialists at a Nairobi hotel yesterday.
Momentum Credit CEO Job Muriuki said the firm provides credit to SMEs which demonstrate commitment, leadership, integrity, excellence and connection in what they do.
Shortlists East Africa managing director Ariane Fisher said human resource management complements the role of working capital in transforming businesses.