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Supporting SME Growth Through Innovation


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Presentation by Stuart Black, Member, IFAC SMP Forum June 2013

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Supporting SME Growth Through Innovation

  1. 1. Page 1 | Confidential and Proprietary InformationSupporting SME GrowthThrough InnovationStuart Black,Member, IFAC SMP CommitteeIFAC Small and Medium Practices ForumKampala, UgandaJune 5, 2013
  2. 2. Page 2 | Confidential and Proprietary Information• Chair’s Introduction (5 minutes)– Objective– Observations– Introductions• Panelists (10 minutes each)• Question and Answer (35 minutes)– Chair and Panelists– Audience and Panelists• Concluding Remarks (5 minutes)Session Format
  3. 3. Page 3 | Confidential and Proprietary Information• Addressing challenges facing SMEs:– The balance between innovation and regulatory frameworks– Access to knowledge– Access to capitalObjective
  4. 4. Page 4 | Confidential and Proprietary Information
  5. 5. Page 5 | Confidential and Proprietary Information• Creating an environment to nurture SMEs• Managing risk on return• Minimizing regulation of SMEs vs Investor Protection• Cross border tradeObservations – Challenges and Opportunities
  6. 6. Page 6 | Confidential and Proprietary Information• “…genuine value creation fuelled by the spirit ofentrepreneurship very much alive on the continent”1• Connected – mobile phone market larger than EU or US –approx 650m subscribers2• Youth – Africa 1B people – 62% of workforce < 25.2• “A large portion of this growth will be from the emergenceof small entrepreneurial business and the accountingindustry will have to adapt to service this expandingmarket …”2• Accountants need to listen to what SMEs want.1 ICAEW Economia, April 20132 International Accounting Bulletin, April 2013Observations – Opportunities
  7. 7. Page 7 | Confidential and Proprietary Information• Bernard Agulhaus, CEO, Independent RegulatoryBoard for Auditors• Japheth Katto, CEO, Capital Markets Authority ofUganda• André Kilesse, President, Fédération des Experts-comptables Européens (FEE)Introductions
  8. 8. Page 8 | Confidential and Proprietary InformationBernard AgulhausCEOIndependent Regulatory Board for AuditorsSupporting SME Growth Through Innovation
  9. 9. Page 9 | Confidential and Proprietary InformationJapheth KattoCEOCapital Markets Authority of UgandaSupporting SME Growth Through Innovation
  10. 10. Page 10 | Confidential and Proprietary InformationAndré KilessePresidentFédération des Experts-comptables Européens (FEE)Supporting SME Growth Through Innovation
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