This archive report was first published on 23 August 2019.
On August 23, 2019, the economic landscape in Kenya was a stark reminder of the challenges faced by small and medium-sized enterprises (SMEs). As large legacy companies laid off staff, SMEs were seen as more resilient in the face of economic adversity.
While it may come as a surprise to some that large companies are struggling, SMEs have long been accustomed to navigating harsh economic conditions. In fact, for many SMEs, economic uncertainty is a daily reality.
So, what sets SMEs apart from their larger counterparts? One key factor is their ability to adapt and innovate in the face of adversity. By embracing lean growth strategies, SMEs can not only survive but thrive in hard economic times.
