Business
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Business
Why Dutch Spot Hargeisa as a business hub?
It is widely accepted among policy makers, government, and businesses that knowledge and innovation are critical ingredients for economic growth (World Bank 2017).
In the world of today, information and communication technology are critical aspects that are changing the landscape for competitiveness as new opportunities present themselves in developing countries and this brings in a new phenomenon (MGI, 2013, Ernst, 2002).
The rapid growth of hubs in Africa is one such phenomenon. Africa has experienced tremendous growth in its innovation spaces witnessing progressive developments of such spaces and with significant variations in focus and funding. Now many of these hubs are searching for sustainable operating models in the continent’s fast-evolving business landscape.According to a recent article in the Tech Moran, innovative hubs in Africa are doing quite well though they need to be complimented or combined with building skills and capacity to help fill the unemployment gap and build a future generation of innovators. Majority of these hubs need to invest more in skills, training and tech support and not just a co-working space providing entrepreneurs with a place to work from.
On the brighter side, there are also hubs in East Africa that have successfully connected several entrepreneurs with investors, with collaboration to build the capacity of these hubs a lot can be achieved.
Dutch Spot Hargeisa as a Business Hub
Dutch Spot Hargeisa will offer a valuable mix of low-cost office space, networking opportunities and business advice to support entrepreneurs in general, and Diaspora start-ups in particular.
One of the primary goals for Dutch Spot Hargeisa is to be a centre that connects and links individuals, businesses and institutions alike whether they reside here in Somaliland or in the Netherlands.
Current Situation
The private sector in Somaliland is now thriving and has the potential to contribute improved economic growth, create more job opportunities for the Somali youth, but the industry lacks the necessary capacity to unlock for Small and Medium businesses to sustain, the early life of start-up enterprises is a difficult period.
The most significant cause of failure in new start-ups merely is because small businesses have to ‘go it alone’ with no support provided.
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