New York, September 27, 2006
—IBM and the International Finance Corporation, the private sector arm of the World Bank, today announced a major initiative to design and build a new business management platform, which will deliver interactive tools, online collaboration and educational content for small businesses in the developing world, as well as for women- and minority-owned businesses in the United States.
“Access to best practice and business management tools is a significant barrier to the growth and sustainability of small and medium enterprises (SME’s) in developing countries. IBM’s contribution to support our
SME Toolkit
will enable us to bring state-of-the-art information and communication technologies to small businesses throughout the developing world,” said Lars Thunell, Executive Vice President of IFC.
The
SME Toolkit
is a free on-line program which provides information and communication technologies to help small businesses in emerging markets learn and implement sustainable business management practices. IBM will dedicate $1 million to build the Toolkit platform in order to improve usability and performance, provide enhanced functionality and create a resource hub, learning location, and meeting place for small and medium businesses.
“We see the
SME Toolkit
as a way to accelerate economic development and job growth in geographies and communities not yet engaged in the market economy as well as to help spur development of women- and minority owned- businesses in the U.S.,” said Stanley S. Litow, President of the IBM International Foundation and Vice President, IBM Corporate Community Relations. “We are excited to bring our technical resources to this project that has the potential to reach so many.”
Tools on the site address accounting and finance, business planning, human resources, legal and insurance, marketing and sales, operations, and technology needs.
The two companies also will jointly develop new partnerships using the Toolkit targeted at small enterprises in India, Brazil, and South Africa. IBM will also design tools on the site that are specifically focused on women- and minority-owned businesses in the U. S.
About the International Finance Corporation
The International Finance Corporation, the private sector arm of the World Bank Group, is the largest multilateral provider of financing for private enterprise in developing countries. IFC finances private sector investments, mobilizes capital in international financial markets, facilitates trade, helps clients improve social and environmental sustainability, and provides technical assistance and advice to businesses and governments. From its founding in 1956 through FY06, IFC has committed more than $56 billion of its own funds for private sector investments in the developing world and mobilized an additional $25 billion in syndications for 3,531 companies in 140 developing countries. With the support of funding from donors, it has also provided more than $1 billion in technical assistance and advisory services. For more information, visit www.ifc.org.
The SME Toolkit:
The SME Toolkit is a project of the International Finance Corporation. Since its inception in 2002, the SME Toolkit program has deployed more than 25 regional and sector-specific Web sites in collaboration with strategic partners in Africa, Asia, Latin America, and Eastern Europe. SME Toolkit content has been translated into 12 languages. The program has seen dramatic growth in recent months and SME Toolkit sites now collectively receive more than 2.4 million visits per year from users around the world. The Toolkit aims to address the three main impediments that SMEs face in utilizing technology for their business: access, lack of awareness/skills, and lack of locally applicable business applications/information.
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About IBM
IBM is the world's largest information technology company, with 80 years of leadership in helping businesses innovate. Over the last 10 years, IBM has been one of the largest corporate contributors of cash, equipment and, most important, people to nonprofit organizations and educational institutions across the U. S. and around the world. For more information on IBM’s philanthropic endeavors, visit
http://www.ibm.com/ibm/responsibility.
