#ClosingTheGap Mekong - First stop: Phnom Penh
On 12 December 2017, the local stakeholders from Cambodia's entrepreneurial ecosystem gathered in Phnom Penh to share their appreciation of the strengths and weaknesses of the ecosystem, and to develop potential solutions together to contribute to a more conducive operating environment for local entrepreneurs and their businesses.
The workshop brings together local stakeholders to review, validate and challenge current research findings, and to engage in an interactive session towards developing solutions to address gaps that are identified in the ecosystem. Conclusions from the workshop are directly incorporated in the final report, which is expected to be published in the first quarter of 2018.
The World Bank 2016 Enterprise Survey shows that the Cambodian SME sector consists of mainly of zero to low (0-10%) growth small businesses. One-third of small businesses have medium to high growth (10-20%), and a fraction of medium businesses have more than 20 percent annual growth. Local entrepreneurs' self-assessment of their 'entrepreneurial capabilities' shows a desire for improvement across all categories, with strategic planning, acquiring finance and operations ranking highest.
The local ecosystem has many financial and non-financial stakeholders that support businesses throughout the enterprise life cycle. However, service provision outside the capital Phnom Penh is low, and SMEs are unable to borrow from financial institutions without a significant bond.
Get an idea of solutions that may increase the capacity of the ecosystem for local entrepreneurs and their businesses. Please read the outcomes here.
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