Small Stuff

FACTS

In 2015, China was Africa's main export market and also its largest source of imports. After 15 years of closer trade ties, China accounted for about 20 per cent of imports in Sub-Saharan Africa and about 15 per cent of its exports.

Financial Times


Overall, approximately 70% of all micro, small and medium-sized enterprises (MSMEs) in emerging markets lack access to credit.  While the gap varies considerably region to region, it’s particularly wide in Africa and Asia. The current credit gap for formal SMEs is estimated to be US$1.2 trillion; the total credit gap for both formal and informal SMEs is as high as US$2.6 trillion.

World Bank Group


QUOTE

"There are no secrets to success. It is the result of preparation, hard work, and learning from failure."

Colin Powell, 65th United States Secretary of States


“I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game's winning shot and missed. I’ve failed over and over and over again in my life and that's why I succeed.”

Michael Jordan, NBA Hall of Famer


DEFINITION

Free trade

Is the economic policy of not discriminating against imports from and exports to foreign jurisdictions. Buyers and sellers from separate economies may voluntarily trade without the domestic government applying tariffs, quotas, subsidies or prohibitions on their goods and services. Free trade is the opposite of trade protectionism or economic isolationism.


Business Management

The organization and coordination of the activities of a business in order to achieve defined objectives. Business management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). Business management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization's resources in order to achieve the objectives of that policy. http://www.businessdictionary.com/definition/management.html