Kenya’s small and medium-sized enterprises (SMEs) should diversify their markets, supply chains and sources of raw materials to remain resilient as geopolitical tensions and economic uncertainty continue to disrupt global trade, Kenya Private Sector Alliance (KEPSA) Chief Executive Officer Carole Kariuki has said.
Speaking during the Third Annual SME Conference Awards and Exhibition, Kariuki warned that businesses can no longer rely on a single export destination or supplier as conflicts, shifting trade dynamics and volatile economic conditions increasingly reshape global commerce.
“You wake up one day and there is war in one region, the next day something else has happened elsewhere. If your market was in that region, you suddenly have to look for another market.”
“How are you making sure you are expanding your business, your sources and your markets so that if something happens to one supplier or one market, your business does not die?”
Kariuki said the rapidly changing global business environment requires entrepreneurs to become more strategic and informed, noting that technological disruption, changing consumer preferences, climate change and geopolitical instability have made business planning more complex than ever.
She urged SMEs to actively monitor global developments and use digital technologies to access market intelligence that can help them anticipate risks and identify emerging opportunities.
Kariuki also encouraged enterprises to embrace artificial intelligence and other digital tools to improve efficiency, strengthen competitiveness and respond faster to market changes.
According to Kariuki, Kenyan businesses should not only focus on protecting themselves from external shocks but also pursue new export opportunities by improving product quality and targeting international markets.
While acknowledging that SMEs continue to face challenges such as access to finance, taxation and market access, Kariuki said stronger collaboration between government, financial institutions and the private sector will be essential in building resilient enterprises capable of withstanding future disruptions.
The Third Annual SME Conference Awards and Exhibition brought together policymakers, financiers, development partners and entrepreneurs to discuss strategies for building smarter and more resilient businesses in an increasingly uncertain global economy.
