Global Entrepreneurship Week 2022
Despite the drive to leverage their economic freedom by turning to entrepreneurship, an alarming number of youth-led startups fail for several reasons due to a lack of sufficient market research and consideration of preexisting challenges.
Women on the other hand, dive into the industry often with limited education, lacking the most basic business skills required to run a successful business and lack of established networks to learn from and share experiences.
Every November, millions of people around the world come together to hold tens of thousands of events, competitions and networking events all in the name of furthering and inspiring entrepreneurs.
In line with the organization’s mission, Shaqodoon this year set to host a co-learning event that would not only bring together youth/women led SMEs and startups, but to further create an innovative sharing environment where the youth/women could connect with industry experts and explore experiences and challenges faced in getting startups to thrive.
Two hundred participants took part at the event at Hargeisa’s Damal hotel. A mix of startups and entrepreneurs from Shaqodoon and the Fikr Camp network, distinguished guests from various Ministries, Shaqadoon’s partners and donors as well as industry representatives graced the event.
In consonance with this year’s theme of ecosystem building and Shaqadoon’s mission to create an innovative ecosystem that empowers youth and vulnerable communities to access opportunities, in his opening remarks Abdiqani Abdillahi Dirie, Program Manager of Shaqodoon stated that Shaqodoon organized the event to encourage youth/ women entrepreneurs in the country by creating a conducive environment for their business growth.
A panel discussion on the challenges facing SMEs was presided over by serial entrepreneur Yasin Yusuf and seasoned businesswoman Qani Abdi Alin, who both raised valuable points regarding success in entrepreneurship and some of the challenges relating to societal and cultural issues that women face in leadership business structures often dominated by men.
Several distinguished guests were present at the event, including Shaqodoon’s partners and government officials. Representatives from various business industries were also present including, General Manager of the Somaliland Special Economic Zones Authority, DG Ministry of Youth And Sports, Chairman of the Somaliland Banks Association, General Manager of Micro Dahab MFI, representatives from banks and telecommunication companies as well as the Director of Planning and Development from the Ministry of Trade and Tourism Barkhad Abib Hassan who gave a presentation on the Ministry’s MSME policy.
The connector event, offered a showcase for several SMEs and startups who benefitted from the presence of Abaarso ventures, a venture capital fund represented at the event by Jesse Clain, who pledged his support for furthering entrepreneurship in the country saying the fund has services catered for all entrepreneurs.
The event in Garowe was presided over by Hon. Mustafa Dahir Aden, the Vice Minister of Puntland’s Ministry of Commerce, Industry and Trade as well as several other officials and industry experts. The event centered around a panel where participants discussed ‘Access to Finance Opportunities and Challenges for Youth & Women Entrepreneurs in Puntland’.
The event’s highlight was the launching of a mobile-web based technology platform aimed at helping users access business related information. This digitization of essential business services makes it easier for the general population and especially youth and women to gain easy access to information, apply for business development services, and even speak directly to agents at the Ministry of Commerce ready to offer support and information.
Highlights from GEW 2022 Hargeisa
MSMEs continue to play a key role in the growth and sustainability of Somaliland’s economy and are core to the emerging private sector and are critical role as drivers for inclusive growth and employment creation.
The startups on showcase in both Hargeisa and Garowe, benefitted from the network of industry representatives present at the events. Several startups managed to secure the attention and interest of financiers at both events.
In Hargeisa, The Director of Planning and Development from the Ministry of Trade and Tourism Barkhad Abib Hassan, gave a presentation on the Ministry’s MSME policy. The mission of the MSME policy is to catalyze business and enterprise growth, through creation of an enabling business environment, appropriate formalization, facilitation of technology transfer, enhanced support infrastructure, entrepreneurship and skills development, better access to finance, market facilitation and research & development.