Exploring digital partnerships for SMEs' growth

Small businesses around the world are increasingly looking to digital startups to form strategic partnerships in order to harness innovation for growth. David Ita, a Strategic Partnership and Emerging Business Analyst at Diamond Bank, recently joined CNBC Africa to discuss how SMEs can leverage these partnerships to drive growth. Ita emphasized that the trend of digital partnerships is not just a fad but the future of business evolution. He highlighted that SMEs are working with digital startups through partnerships with telcos and FinTech companies. While some businesses are still using traditional platforms, Ita encouraged SMEs to take advantage of existing digital opportunities such as social media advertising on platforms like Facebook, YouTube, and Instagram. When it comes to identifying the right innovation for partnership opportunities, Ita emphasized that each business will have unique needs that should drive their partnership decisions. Whether a business requires outreach, targeting, or specific solutions, the key is to align the partnership with the core objectives of the business. Innovation is crucial in the current business landscape, and digital partnerships can spark new ideas and solutions for small businesses. Ita also shared insights on how SMEs can identify digital hubs for potential partnerships. With the vast amount of information available on the internet and a large number of internet users worldwide, businesses have access to a plethora of opportunities for growth and collaboration. Ita stressed the importance of SMEs embracing the internet not only to reach customers but also to seek out strategic partnerships that can propel their business forward. In conclusion, the interview with David Ita shed light on the significant impact that digital partnerships can have on SMEs looking to expand and innovate. By leveraging the expertise and resources of digital startups, small businesses can enhance their market reach, improve their operations, and drive overall growth and success in an increasingly digital world.