Global statistics show that up to 90 per cent of start-ups fail and in emerging markets, three out of every four are not sustainable.
In Rwanda, business accelerators are now positioning themselves strategically in the market to mitigate the issue.
“We are really excited about 2016 because we believe that the best predictor of future success is past success, and we had great 2015 – our entrepreneurs were really shining in their industries and we expect that to continue full-heart into the New Year,” said Julienne Oyler, Executive Director at African Entrepreneur Collective.
Oyler says it needs to look at larger economic factors as a whole.
“We really primarily focus on the entrepreneur, the business that they are in and how that they can satisfy and grow their customer base”, she adds.
Explaining how it’s natural to go through ups and downs as an entrepreneur business.
It says: “If you can truly understand the needs of your customers, then you are going to be able to weather any of the economic storms much better than your competitors,” said Oyler.
When it talks of businesses it isn’t exclusive to high flyers, Oyler states that it is also mindful of small, medium as it is going to play an important role in driving the economy.
Oyler is proud of the year the entrepreneurs had and looks forward to more success.
“They have already created 700 jobs for the communities in Rwanda – young entrepreneurs, people who have ambition and drive but they are really digging deep in their communities and they are providing and economic opportunity.”