Business Support Fund (BSF) in collaboration with the Institute of Chartered Accountants of Pakistan (ICAP) is holding a conference on "Market Opportunities for Consultants" in Karachi on November 4 (today). According to the BSF Marketing Manager, Fatima Hussain, the BSF and the Small and Medium Enterprises Development Authority (Smeda) are working for promoting the use of Business service providers/consultants from all over Pakistan.
The concept of improving business processes through consultancy and business development services (BDS) are uncommon for the SME sector in Pakistan, she added. She said that BDS could play a pivotal role in helping businesses realise their true potential but the idea of BDS is still a novelty because of the financial constraints faced by SMEs, she added. He further said the BSF could pay up to Rs 1.8 million to the small and medium enterprises for getting the services of consultants.
The BSF, established by the Ministry of Finance with the assistance of Asian Development Bank (ADB) subsidises the provision of business development services to SMEs and creates market opportunities for them and their consultants. BSF provides 50 percent cost-sharing grants to cover the cost of business services. Recipients may receive up to Rs 1.8 million and may apply for support in one or several projects, depending on their requirements, she added.
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