My small business…

Most Small and Medium sized Enterprises (SME) in Cameroon are family businesses and 75% work in the informal sector. Their turnover rarely exceeds fifty million (50,000,000) FCFA; equity is low and held by the family. They set up as individual companies, institutions or public limited companies when standardised. They get going in commerce, agriculture, transport and public works, just to name a few. The manager is generally, the founder or the shareholder.

Family business in Cameroon follows long term capital standards. This model is very efficient as concerns local sourcing for example. Thus quality relationships are maintained and growth directly benefits local businesses.  Jobs are created, recruitment is done out of affiliation; with loyal human resources and a low turn-over which allows to capitalize on trainings, gives room for a sustainable development. Money is not its only leitmotiv, relations within the company are governed by shared values and solidarity. The business is a heritage to consolidate, protect, and transmit, so it is wary of  growth for fear of losing control. As a result, it borrows little and is not open  to investors;  gender equality (sisters, brothers) is not always respected.  Therefore, the transmission process is hindered and commitment of future generations weakened. Very Small Enterprises (VSEs) and Small and Medium-sized Enterprises (SMEs) are our future, regardless of their limits in terms of organisation and resource access. This is due to the business environment and poor ecosystem in Africa. It is essential to protect them because they make up 90% of Cameroon’s economic fabric and account for 35% of the national GDP.