Increase Efficiency
Oct
ober
201
6
Digital Natives in the Driving Seat Marc and Kevin Willy are the clever minds behind the successful Swiss fashion label Nile.
Success Factors for SMEs Study: Digitalization as a means of compensating for locational disadvantages.
Japanese Secret to Success Kaizen: How a philosophy is making companies more efficient and securing Swiss jobs.
Entrepreneur
Entrepreneur 02/2016 3
04 — i i a a i es in e ri in eaarc an e in i y are e c e er in s e in e s ccessf iss fas i n
a e i e
12 — re i isse a ese r s f r en an e an
s r s siness in eres s a e i ica e e
14 — ccess ac rs f r Esy a in i se f ca i na
a an a es an c ensa in f r isa an a es i i i a i a i n
17 — e E r aE ec i n Efficiency Effec i eness
e E f r a enc ra es e es i nin f ecisi n a in r cesses
18 — In riefiss ay en ransac i ns are ein ar
ni e a es is ean f r en re rene rs
20 — E a s in En re rene rs ic r an ra a a e c ra e
c an e er career a ay s e era es fi ness cen ers in i er an
24 — ai enre inc e i ess eff r
i ri r s i e en a i n any iss s can e reser e
26 — a e an fac rers n er ress rean s efficiency increasin eas res
an ean ana e en ei r a es i ac e f e ar e
29 — r es i ns f r e ina sc ie ec n is isc sses iss c e i i eness
an r ni ies f r increasin r c i i y
e r yicin a c a er rec r i resses n reas er er ea f E siness i er
an a re i isse n re an e er
Contents
26 — ar ays an e ress re
Valve manufacturer Seitz Group: Back at the top thanks to a clear con-cept, robots, and Lean Management.
20 — ea er i assi n
Doctor and entrepreneur Sandra Thoma is the head of Exersuisse, and operates 20 fitness centers across Switzerland.
E i ria
Contents
In recent years, the Swiss mar-ket environment has become more demanding. Businesses must be efficient if they want to survive. Companies like those profiled in this magazine, Nile Clothing AG and Seitz Group, have reacted to the high price pressure with various mea-sures: sophisticated logistics, high levels of digitalization, and the consistent application of “lean” principles. Noventa Consulting AG, which specializ-es in the latter, sees potential for a number of companies to preserve Swiss jobs through the use of “lean” or Kaizen prin-ciples. As a bank for entre-preneurs, we hope to use this issue to point out opportunities for you and provide you with inspiration for positive changes. Andreas Gerber, Head of SME Business Switzerland
04 — r isin ea
Young, curious, goal-oriented, and extremely successful: the Willy brothers of Nile Clothing AG.
12 — e r s f r en En re rene rs
Events from the Women’s Talk series offer multi- faceted discussions.
Dear entrepreneur
4 Entrepreneur 02/2016 Entrepreneur 02/2016 5
Nile Clothing AG:Consistent, Efficient, On the Go
At just 26 and 28 years old, Marc and Kevin Willy took over the Swiss fashion label Nile. Before that, Kevin set up an office for the company in Shanghai, and Marc drove their expansion into Germany forward. Above all, however, they are a step ahead of other companies in digitalization.— Mariska Beirne
Today, you are co-CEOs and majority shareholders of Nile Clothing AG, eight years after joining the company as students. How did you do it?
arc i y Because I am a is an re a i e f e c any s f n er ar s y a ere
as a asic e e f r s fr e e innin en I ine as is
ers na assis an a f a year a er e in a s ine e siness as an assis an an I eca e
ar s y a s e ye in i y In is ay e
n e c any ery ic y ar s a e s a rea
ea f crea i e free an r f r ers na ini ia i e e
e innin e i ea a e c a e er i e asn f r
isc ssi n a a
You soon received the opportunity to prove yourselves with larger projects. What did that involve?
en I ine e c any y firs assi n en as
i r e e is ics ef re en a f r r cesses ere an e n a er I recr i e a c er
scien is ri e a is ics r ra f r s en e in ine e i en ifie e en re en ia f r increasin efficiency
e eci e a r ac i i a i a i n ery c nsis en y
s e s an r cesses fr crea i n f e esi n i ea sa e a e c n er r in e e s re s e in e e er
Many fashion labels and companies in other industries must have comparable needs. Surely there
i e in
arc ef an e in i y E en as eena ers e r ers a rea y ne a ey an e ana e
a c any e er ne ay
i e in
6 Entrepreneur 02/2016 Entrepreneur 02/2016 7
i e in
01 — ien a is r rian rsc ef earns a
ne year s s er c ec i n fr e in i y
02 — e ea esi ner E i ans ann as s a e e
fas i n a e s is inc i e si na re f r years
rian rsc n n y s s ra e ic isc ssi ns
i e E s a s s ares eir en y en f e siness
was already suitable software on the market?
r risin y n e f n s f are f r cas re is er sys e s
r c i n an is ics n in a enc assin a c sa isfy a f r re ire en s
e er i ris i er e i an I ea ic a er e er e as i s n s si iary i ris
as e ana in irec r an in ri y s are er a en a en
ree r ra ers a a en a en e er i
si a i i na e erna r raers an rse es e e e e
sys e s arc i ec re ince e a e a a s i n a
arran es r r cesses far re efficien y r n e e n
er sys e e is s a can in e er e ery siness area i
is e e f c e i y If e nee s ecific a es e
can fin e a e ress f a ey an ey ref ec e c rren s a s e n an
r is s a ay n y era e i a e fi res
This software must be highly sought-after by other companies, and you founded a separate company for that purpose. Are you planning to switch from fashion to IT?
a a e e ie e a i e in s i as e r en ia a e
sa e a ies f r e s f are ris i er an r
ne ic ar eier i an e is s ec in e f re
r s se in c es is si y c re f n an a s y r f c s is s ayin n
i e in
i e in
What happens if you receive concrete proposals for the IT system?
e sys e as een rra e s a i can e re rce an a a e f r er
in s ries ic is a e in en for i e c e i a ine
rin in e s f are n e ar e
Logistics, and the IT solution developed for it, is not the only area where you have driven forward changes in favor of increased efficiency since joining
the company. Four years ago, you and company founder Markus Gygax decided to open an office in Shanghai. What were the specific reasons for this?
a i y iss es ere iffic ana e fr i er an
an a ays ar ic ar y e in a i y c in s ei er e
a en f e in en ry r s a a c c ea er rice In a i i n is enera es a i i na a inis ra i e r n s ic is ery inefficien
In a i i n a i y i r een an c n r e a
01
02
8 Entrepreneur 02/2016 Entrepreneur 02/2016 9
01 — e r ers ai y isc ssi ns n e c in iss es
in eir res ec i e areas is is i e easi y ne since ey si
si e ne an er
02 — ran in is ri r s y in er re e a i e ere e see a ie f eir s r in e f r er car ar fac ry in i a
n er in s arc i y ef ana es eir r in er any siness i s r s
in sse rf an nic an se era s res
02
er a s e an e e in a e er si i n f r rice ne iai ns an c ain s is is e s iers as y e a s an e ni r r eas res re ar in
s cia res nsi i i y eanin fair r c i n s an ar s r eci n f r e fac ry r ers
an c iance i en ir n en a irec i es
Kevin Willy, you were tasked with setting up the Shanghai office at only 24. Did you feel up to the challenge?
I i n in i e a I si y f c se n c e in ne as af er e er ere ere
se era s ac es i y f n in a c any as a c a en e a
e ree n s an c n ess a inis ra i e isi s
Where did you find support and the necessary information? Had you established a network in China beforehand?
re i isse as a i e s in is re ar y i in
s access i s ne r E ery c n ac r s ne s e f r er is is es ecia y r e f
r c n ersa i ns i rs c ann e ren ne ina
e er a re i isse as i e an r e in e c n ry f r a s years e a e
s a a e i s f r e f n in f r a i ies e a s a n
isc ssi ns i i a c ra ifferences n er ery sef
c n ac as i er an a En er rise s i ca e E a e i e is c n ac as a s
es a is e r e an
Did Credit Suisse mainly serve as a network intermediary or did you use other banking services?
In a i i n e s a ser ices i e c en ary cre i s ic e a a rea y nee e e ere e f irs re i isse c ien s i a ren in i acc n is ean a e a access ca
c rrency in an ai ic a e ai y siness c easier n i n y a s r i e re i s y e inese c rrency c n
e ra e is ay e c ay e sa aries f r inese
e yees an r ers in ca c rrency
The Chinese mentality is very different from ours. In which areas did you notice this the most?
In c nica i n e
e innin en I a e an e yee an ins r c i n I as “ y n ers an ” an e ans er as a ays es e en if
ey a n n ers a a I earne as a ifferen es i n na e y a i y firs If e ans er as
c rrec I c ass e a e res as a s n ers e era
si a i ns are f nny in re r s ec nce a r er ins a e a
s er f r s en e as finis e n y c a er ca e f e i e en I as e i ere e
a er as e in e a I a ne er s ecifie a er
Accurate communication saves both time and money. Another
“Nile still has huge growth potential, although the same applies for our software. But for us, selling clothes is simply much more fun.”
01
i e in
10 Entrepreneur 02/2016
n s is f n a i n f r s a e i ssi e f r an en rin
re a i ns i e er e n er rien a i n is cen ra
f r s n n y in er s f r c ien a is r a s r
r cers e yees an c ien s rea ea f i e
in s s ccess is ase n as in re a i ns i s i e ese
e c nnec i ns ere a e y ar s y a n ef re e ine e c any an n
i s r ain ain e
Long-Term Success“I got to know the Willy brothers six years ago, when they had just joined Nile. At that time, Credit Suisse was not yet the company’s house bank. Our contact soon became more in-tensive when Kevin Willy went to Shanghai to establish a Nile branch. For both sides, this was a kind of pioneering step: Credit Suisse opened its first renminbi account for Nile, an account in Chinese cur-rency, which had just become pos-sible for the first time due to a change in economic policy. The
renminbi account made it possible to process payments in the local currency. For the clients, this meant an improved basis for negotiation with Chinese suppliers, since it eliminated uncer-tainties about the exchange rate. We assist a large number of company start-ups in Switzerland, but in Shanghai, that’s obvi-ously something special. Our Chinese network was extremely valuable for Nile. At certain points, we were talking on the phone every day, and new challenges constantly appeared on the Chinese horizon. It was fascinating to see how Kevin Willy handled one after another, together with support from Markus Gygax and Marc Willy in Switzerland, as well as from us. During these two years in China, a strong relationship of trust emerged between Marc and Kevin Willy and myself. Today, this trust is our foundation, and it was naturally a major help to us when the corporate succession took place. Since we already knew each other well, nothing else needed to be proved. The brothers knew that I was genuinely interested in their business, and that I see myself as an advisor and not a salesman. It is important to me to question decisions, and to work through all the relevant options. This attitude suits the brothers very well, which is somewhat extraordinary when you consider how young they are. I am impressed with their maturity and experience, and their clear strategies across a wide range of areas. For example, when streamlining company structures, or with respect to their conduct in terms of environmental and social standards, as can be seen in the Nile Code of Conduct. Despite the long-term ori-entation, they are never static, but are constantly in motion – I see great potential for Nile, and am excited to see what they surprise us with next.”
rian rscr ra e c ien a is r
i re i isse in ie since
subject with regard to efficiency is that of the franc shock in February 2015. How did Nile react?
e ere a rea y en in ar s e ec in a s r
f e en a n necessari y s s n an s c an e en
rrency e in a e s re a i e y e rin is ase
What other measures did you pursue, beyond digitalization and the office in Shanghai?
e si es i n f r c n erac in fa in ar ins is a ays r a is n s increase efficiency f r
e sa e e e f rn er increase sa es r r
That’s easy to say. What methods are there for increasing growth?
i e e a e ree i ns e firs is en ne
s res is is e fas es ay e er fin in s i a e ca i ns
i aff r a e rices is c a enin e sec n e is en s r s f r e esa e ra e i e e a e ne in
sse rf an nic n e ir i n is e e s re
e see e e as ein i i ess e re ai ra e as a rea y c an e c nsi era y in recen years e n n
a s res i i e in years i i efini e y e ifferen
fr ay n ine re ai e er
is a ey ar f e f re e are s i s a e e innin
What does this future look like, and how are you preparing for it?
ne i n e re c nsi erin f r e a e is in es in in a
ra y se c nsis in f a ere c in can
e a a ica y ra e n a anne in fr a an es in fr n f a reen screen s i e ese can sa e a f
r e e ie e is ec ny i i r e i e ec in
c ea er ery ic y a s y e re s i ai in
It’s not surprising that Markus Gygax saw you two as potential successors so early. But what about the bank – did you need to convince people here?
ince r ac i i ies in ina e a e een in e in
in ensi e isc ssi ns i rian rsc r c ien a is r
e res in r s as ery e f f r e s ccessi n
ince e a e a ays aye i r car s n e a e i ar s y a an
rian rsc i as ne er a c n incin any ne e ri r i y
as si y n fin in e es s i ns e er
On the other hand, you also must have developed a great deal of trust for him, and you have evidently chosen Credit Suisse as your house bank.
a s r e ccessi n i se f is s e in ery in i a e
rian rsc n s e e ai s f r a re rn as e as
er inf r a i n a n ne si e e ar f irec rs
i e in
Nile Clothing AG
The Nile Clothing AG company’s success story began with a chance encounter in 1983: Markus Gygax, then the owner of the shop Bijou les Boutiques, met Edith Hansmann, a fashion student, who was wearing a blouse that she had designed and made herself. The businessman ordered a small collection of ten pieces. They sold out in no time. Together with his sister, Sabine Gygax, he built up the Nile Clothing AG business. In 2015, they sold the majority stake in Nile Clothing AG, with 110 employees, to the brothers Marc and Kevin Willy. The founders are still involved with the company as minority shareholders and board members. Sabine Gygax also serves as CEO of the separate company Pluvina AG, which oper-ates Nile’s ten stores in Switzerland, and Markus Gygax and Sabine Gygax still runs Bijou les Boutiques. Edith Hansmann is still the Head of Design of Nile Clothing AG. Under her department’s aegis, four new collections emerge from the former cardboard factory in Nidau each year.ni e c
12 Entrepreneur 02/2016 Entrepreneur 02/2016 13
re i isse a es
Public Policy Representing Company InterestsPolitical and social developments shape a country’s econom-ic environment. René Buholzer explains how Credit Suisse champions the interests of Swiss companies with its Public Policy unit.
s ecific i ica iss e a is eans f r e an s c ien s is aays fac re in r c nsi er
a i ns
What current political issues affect-ing Swiss entrepreneurs are you dealing with in particular at the mo-ment?
i a a e f refr n e e i e en a i n
f e ass i i ra i n ini ia i e er i r an ics inc e c r
ra e a ref r an c any a ref r
In the context of ongoing political discussions: What potential or risks do you envisage for Switzerland as a business location?
In ices s c as e a e i i eness e r f e
r Ec n ic r in ica e a e c n in e a e a s n asis
e f e c a en es inc e e s r n iss franc an e ren
ar an in re a e any areas in e ai ic i a e y n
er ines r i era ec n ic an a r a e s a s re ain r c nnec i n r ra e is is a s e y essen ia i r s a in erna ar e
What has Public Policy achieved recently that is particularly import-ant for Credit Suisse’s corporate clients?
r in e er i er ayers e re ec e ini ia i es a ere ar f siness s c as e ini ia i e an e ec
ini ia i e an in er s f c any a ref r e s ccessf y f a ains res ric i ns n en re rene ria free re i isse a s c a i ne a f nc i nin c r
ise f r e i fai r es a s s an ia y i r es s a i i y
in e financia sys e ye es n res ric an s c e i i eness
se ere y a e sa e i e f ese ac i ns i a e y a s far r c r ra e c ien s en
efi fr e i r e s a i i y an c n in e i e ran e f ser ices
In what way does Public Policy rep-resent the concerns of corporate clients in political discussions?
en er s a an f r en re rene rs an in ee in i
e ra i i n f fre Esc er enre rene ria in in an c ien a s r n financia cen er
an e siness ca i n f ier an are f c nsi era e i rance s en e ana y e a
en erea f ic icy iss ni ersa an an a ea f s aina i i y
a re i isse
Public Policy at Swiss Universal Bank
The objective of Public Policy is to promote and protect the reputation and interests of the bank in Switzerland. To this end, the unit liaises with various stakeholders in addition to observing and analyzing rele-vant political and social issues. Public Policy maintains contact with parliamentarians, administrative bodies, and other economic and po-litical representatives. Finally, it also coordinates work that is under-taken within the scope of Credit Suisse’s membership in business associations, such as the Swiss Bankers Association and economie-suisse (the Swiss Business Federation).
Read more about the network:
getdiversity.ch
Would you also like to attend a Women’s Talk? For more information and a chance to register, please visit:
womeninbusiness.ch/wp/womens-talk/
re i isse a es
GetDiversity is striving for a greater proportion of women on boards of directors, and mediates between boards with vacancies and potential fe-male candidates.
GetDiversity
Exciting corporate topics from a female perspective, fresh impetus, and an opportunity to network – that is what’s being offered at the regular “Women’s Talk” events.
“Women’s Talk”
I is i r an re i isse r e en in e siness r an as en re rene rs a is y i is e ain s ns r f e
en s a series f e en s r ani e y e iss siness a a ine en in siness E ery e en is f c se ar n a an
e isc ssi n e c sen es s an e er s n e s a e are ers na i ies fr e fie s f siness science an c re
i i an isc ss e s ecifie ics fr a fe a e ers ec i e a ers in c any s ccessi n in eri ance se f ran in r e
re a i ns i e een ney an f r ne are f in eres en f a a e r s ef re an af er e ain ar ere is a
rin s rece i n rin ic i e y isc ssi ns a e ace an ne i eas f en arise ere e ne r in a ens f i s n acc r
e c n ac s are a e an e is in nes are s ren ene e e en s a e ace in ern ase cerne In er a en an ric an a e a rea res nse e ery ere ey are f en s n in a ance
r s er a eca e e r ania i n e i ersi y as een r
in ar s e a r ni ies in ar e ers i s I s ai is
ercen fe a e can i a es f er a s ccessf c anies an r
ani a i ns a e r en a e inc si n f en i eir a ii na ie in s a es an ran
es f e erience si nifican y ir es e a i y f a ar s ecisi ns is as een c nfir e
in a s y y re i isse Ecn ic esearc ecifica y e
i ersi y is a a f r ic n e ne an s r s an r
es en n eir ay ar e ers i an s af er a f can i a es n e er an
i a ises c anies in e searc f r a s i a e can i a e re i
isse is e ain s ns r f e ann a e i ersi y e en e a
i i ns f e i ersi y are ery si i ar se f e an ic are ac i e y r e en
e erna y an in erna y
Networks for Female Entrepreneurs
en s ae f ran in e r f ar e in rse f ay e en
14 Entrepreneur 02/2016 Entrepreneur 02/2016 15
esearc
c any s n er s ccess is ase in ar n efficien r ci n an r r cesses i en
e s ea y increase in in erna i na c e i i n s c c r ra e efficiency increasin y in es
i a y i i in ca i na a an a es an fin in s i ns f r ca i na isa an a es I is i e y n n a i er an
as any ca i na a an a es ese inc e e raine
i a e e yees a r s researc en ir n en an an e ce en infras r c re f r e a e anies a e an easier i e ea in i ca i na a an a es an i isa ana es e er s s c e ere
in eres e in isc erin e areas in ic i er an as ca i na
isa an a es an ey can e an e e as e near y
iss Es in r ann a s r ey e a s an e fin
fr e Es a r e i i ai a i n as in is r cess
Switzerland Is Trailing in Production Costs
ere as a c ear ans er in res nse e es i n a
c f a isa an a e i er an faces as a siness
ca i n c are er c n ries in er s f r c i n c s s e a ai a i i y f s i e
r ers an e c e i y f
e a re a i ns i er an is a a isa an a e in ar ic ar i re ar r c i n c s s
f e Es s r eye ar ic ar y in s ria Es in ica e
a er c n ries a e si nifican a an a es er i er an in is area In er s f e a ai a i i y f s i e e yees an e c e i y f e a re a i ns e er s f e
Es s r eye and res ec i e y i n in
a er c n ries a any a an a es
Key Method: Introducing New Technologies
any iss Es are ery s ccessf an are a e c e e in ernai na y es i e e en ia
c s isa an a e ese Es ea i i er an s
ca i na isa an a es e as e s r ey ar ici an s a e i r ance f fi e ifferen
eas res c a ca i na isaan a es Es ci e e in r ci n f ne ec n ies as e
s i r an e s r eye i ca in i a ery i r an e f r c a in ca i na isa an a es i i a i a i n is
i e y ay a cen ra r e in is as f Es e ie e ey can increase eir in erna i na c ei i eness si nifican y r
ea y i i a i n f s a e f e ar i i a ec n ies s c as i a a ana yses r se f r ani
in r c i n sys e s I is n s e Es a a e a rea y
n er ne si nifican i i a i a i n a see is si i e effec
s Es a a e n er ne ess r e en n i i a i a i n
s far e sec n s i ran e c a ca i na
Digital Technologies Compensate for Locational Disad-vantages
Corporate efficiency involves optimally utilizing locational advantages and purposefully compensating for locational disadvantages. Swiss SMEs are using new technologies and digitalization to tackle the second of these tasks.
— Patricia Feubli
Unternehmer 01/2016 1
8.2%not at all
14.4%slightly
34.8%reasonably 31%
strongly
11.7%yes, very strongly
18.8%slightly
37%reasonably
23%strongly
8.3%yes, very strongly
12.9%not at all
International Competitiveness Thanks to Digital Technologies
“Do you find that state-of-the-art digital technologies are increasing the international competitiveness of Swiss SMEs?”
SMEs with latest digital technologies
SMEs without latest digital technologies
Source: Credit Suisse SME Survey 2016
16 Entrepreneur 02/2016 Entrepreneur 02/2016 17
E r a
Successful companies make the best possible decisions on important questions and thereby achieve high effectiveness and efficiency. The 3E formula encourages the checking and questioning of decision-making processes.— Patrick Lustenberger, Managing Director of Quintessenz-Qualität GmbH
Effec i eness eas res e a i y f a a ac ie e e f in es i ns are
si nifican f r is a is e a a r cesses an ac i ns ea e efine a
a fac rs a e a si i e r ne a i e inf ence
n i e effec i eness efficiency is a ac ie in a a as ec n ica y as ssi e a is e re a i ns i e een e en i re an inc e i a eans can e e en i re e re ce an e inc e a i i e
E ery ay e a e c n ess c ices a f en a e ace nc nsci s y er se era s e s e e an es i ns are a are y i ns y I c se e a are e c nse ences
The 3E Formula
Quintessenz-Qualität
e c any in essen a i r i es a ice an c ac in in e fie f a i y ana e en an ers na e e en f r c anies an ri a e c ien s ys e ic an in e ra e s are se s r ecisi n a in r cesses e f c s is n rec ni in en ia an e e in ers na r en re rene ria
a i iesin essen a i ae c
The 3E formula in combination and the full article are available at:
credit-suisse.com/entrepreneur
Effectiveness – Do the right things
Efficiency –Do things the right way
Election – Choose consciously from possible actions
isa an a es is e e e en f ne r c s r ser ices
f e y in es en s in s aff i er i r s f ca i a s
an s rcin s rcin ran s as era a n
e e s i ays a re i r an r e f r Es i a ca i n si e f i er an f r e r in Es f r in s ria Es an f r e i si e
en er r ises an f r er c anies
More Than One in Five Heavily Digitalized Already
e i r ance f e a es i i a ec n ies f r iss Es is
a rea y e i en re an ne in fi e Es s r eye a e ea y
ery ea y se f s c ec nies a ra y ese a ica
i ns are s re a en in I inf r a i n an c nica i n ec n y an e e ec rica
in s ry Es in e rans r ai n an s i in in s ry are
a s ea i y i i a i e In is sec r e efficien r cessin f
r ers as ec e c re c ica e in recen years an
n y e ssi e a i i e e en i s a e f e ar
i i a ec n ies r ina i n f e rans r a i n in s ry
is ra i y ec in re essen ia an re ires ar er an ar er
es f a a e ana y e eca se rans r es are
s ea i y increasin as s a er an i ies ec e re c n
in r er ic in e i ery a resses c an e fre en y ar ic ar y in e c erce e i ery ea ines are ec in s r er an s r er an raffic r es are increasin y
er r ene
Newer and Medium-Sized SMEs Tend to Be More Heavily Digitalized
e er e ess i i a i a i n s e i es re ires ar e in es
en s in infras r c re
r e a e ifferen y es f inf r a i n s c as i i a a a fr ac ines r c esi ns
an ri en n es an c s er re es s s i e y e ai s
e r i e in a s an ar f r a s ey can e n ers y a
f e ac ines c ers an e yees in e I is eref re n s r rise a acc r in
e s r ey ar er i er re en e an ne er Es en e
re ea i y i i a i e an e er Es e er Es can
i e en ne i i a ec n ies an eir re ire en s as s n as ey are f r e a in e
a i c s y ifica i ns a a a er s a e
Patricia Feublieni r Ec n is
iss In s ry esearc
Download the SME study (PDF):
The “Success Factors for Swiss SMEs” study is published annually and is based on a survey of around 2,000 Swiss SMEs. In the survey, SMEs assess Switzerland as a business location as well as the wider framework conditions.
The complete study can be found at:credit-suisse.com/entrepreneur
INVESTMENT SOLUTIONS & PRODUCTSEconomic Research
Success Factors for Swiss SMEs 2016
September 2016
Swiss Issues Industries
Combating locational dis-advantages with the latest advantages with the latest technologies
Swiss location today Locational disadvantages Digitalization Swiss location continues Swiss location continues to promote success for SMEs
Page 10
Switzerland is at a disad-Switzerland is at a disad-vantage compared to abroad in terms of pro-duction costs
Page 16
More than a fifth of More than a fifth of SMEs are highly to very highly digitalized
Page 16
esearc
18 Entrepreneur 02/2016 Entrepreneur 02/2016 19
In rief
Solutions for Cash Management
resen r y f a iss Es ni r eir cas f s r e se f a er acc n s a e en s r er
an a e s y in s ey are i i in eir a i i y assess eir ac a i i i y an are a ays a s e e in
re i isse as e e e re ser frien y an c reensi e s i ns e ress f a ey ese ffer an a e er ie f a f a c any s cas f s an ia i i ies
an e a i ne a i e a ances an i i i y s r fa s
Further information on comprehensive cash management solutions can be found here:
credit-suisse.com/cashmanagement
MyIBAN – As Individual As You Are
e I is c rren y increasin in i rance an i s n re ace a acc n
n ers i yI re i isse is e firs ay en ins i i n r i e
ffer i s c ien s e i n f in i i a iin e as i i s f eir I e en
i e ers r e a e i is ssi e c se an I a c n ains y r c
any na e i e y r re i s I a s re ains a i
Please inform us of your desired MyIBAN —we will be happy to check its availability. Find out more about MyIBAN here:
credit-suisse.com/myiban
In rief
i er an is a e er f e in e E r ay en rea E a n i er E r ean c n ries e ai f E is si ify an
s an ar i e E r ean ay en ransac i ns e ransi i n e ne s an ar I as a rea y een carrie e rea es e en
ssi e f r iss E r ean ay en ransac i ns a iss ayen ransac i ns are ra a y ein i ra e I e ce e y e a a i n i ea increase efficiency f e i i i y
an rans arency f r a ar ici an s
The Three Most Important Changes ar in in i e an ay en ransac i n f r
a s i n n er e se an i ins ea e re ace i e f r a
y re i s acc n n ers i e re ace y I ners i e ce i n I i n n er e ssi e r cess
es ic ay en s r e i a ices i an I n er in e f re
e c rren ran e an re ay en s i s i e re ace y s anar i e s i s i c es
Who Will These Changes Affect?e c an es i affec a an in an s ffice c ien s in i er
an ey i e es ecia y si nifican f r c r ra e c ien s a c n c acc n s aya e ee in is is eca se c an es i
e re ire f r ee in s f are an ne s i s i e re acin e ay en s i s
What You Need to Do If y se a s an ar s f are s i n f r y r ee in arify
e er e a e I is a ai a e r as a rea y a en ace
If y se c s s f are ease c n ac y r s f are en ineers s a ey can r i e y i a ice a an ear y s a e
en annin f r rin e a eria s e a are a e c rren ayen s i s i e re ace s n
an f r e i e en a i n f any a s en s in y r e If necessary arran e f r ifica i ns c ien an e yee as er
a a ere I n ers s e en ere c nsis en y s a e a a i e e i e f r e ne f r a s
Harmonization of Payment Transactions – Are You Ready? Along with the European standardization of SEPA, Switzerland is now also changing its domestic payment transactions to ISO 20022. All bank clients are being affected by the changes. What do you need to do?
Here’s where you can find help.
ease c ns r c ec is n e e si e f r s i c in e ne ay en ransac i n
s an ar
can recei e s r an a ice y ca in ne f e f in n ers r ra e c ien s ri a e c ien s n ers n ri fr a e e ne ca s ay e
rec r e
scri e r ne s ic er n e ay en ransac i ns i ra i n ere
Detailed background information on this topic can be found here:
credit-suisse.com/zvmigration
“With Credit Suisse, we have a team at our side that extracts the maximum value for us.”
ran is i i E cr ec
can fin re a ran is i i in e i e r rai s cre i s isse c en re rene r
20 Entrepreneur 02/2016 Entrepreneur 02/2016 21
“Working Out Is Like Brushing Your Teeth.”
Flexing muscles is her business: Sandra Thoma, head of Exersuisse, on efficient 30-minute workouts, and why women build muscle more slowly.— Yvonne Zurbrügg *
E ers isse
assi na e an c i ean ra a c r an en re rene r
ffee c es i a se ec i n f c c a es e ea ar ers f E ers isse in ric r i s c ear a ere s n c ca rie c n in s a r ca i n in i f e any e e s ri in s ay in s a e in e s are
e er y ne f r e I a c c ic says an ra a an a s a s y ay f e c se
e a s a e a es ran es an a es f r r e yees If y ere c are er fi ness cen er c c a e a s
es s a r an re n rne an in ense i n s r s anas n fin ice ars sa a ars r fi ness e i en
i i in s in any f er E ers isse ca i ns se e ercise a E ers isse aren ere
s e seen ere isn e en a irr r a e e e c e
ere i r s ren en eir sc es s acc r in eir n f i e r ra s an n in
c e i i n i eir c ea es n e e i en e a s n ay any sic s a e e
can f c s eir c ncen ra i n n erf r in eir e en s
c rrec y says a
The Business of Sweatir een ercen f e iss
a i n rac ices s r s in fi ness s i s acc r in a s y y e i e an e E r ean ea i ness ss cia i n
is eans a re an a i i n e e are e ers f a
fi ness cen er n y e c an e e es are re e er
cise cra y I s n s r r ise en a ric as a e i es
c ncen ra i n f e ercise faci i ies f any ci y r i e f r years ne ni e ren e increase in
E ers isse
22 Entrepreneur 02/2016 Entrepreneur 02/2016 23
f en rac ice i i e ei f a fear f in
sc es a ser es e ass res a n an is in
e ice s i e eye e s e s ee e f er a er
a in “ I e raine ar since I as an s a y
ar s are ef re e in er s ee e n a ain s e a s i a s i e ey re n e ac y f a y
ei er ” Inci en a y s e a s if s s n a ra i i na e ress
The Big Players in the Marketer res nse en as e a er s are f e fra en e iss ar e i ea i r s ea s e iss ar e i a s are f
a f e iss ar e ic inc es e c ains c i
i ness ranc es anne an i r s i ness ar
ca i ns cc r in in s ry ass cia i n f iss fi ness cen ers earn an ann a re en e f er a i i n francs
a sees erse f as a nic e ayer In ea rien e rainin
e are n er ne is is i r an s re an re in erna i na c ains i e
asefi an isc n fi ness are ainin a f in i er an
an ea in e ar e i c s e ers i s s ar in a francs er year n rece i n
n s r r fi ness c asses i i e ins r c i n ins ea f
eac ers a as n ans e an r a si e i a
ca i n in i er an s e a ays as en reser es e ne es
E ers isse ca i n ene in December eir firs s i in icin e er s e as n in en i ns f en rin in f rei n
ar e s e re an E i an e asis n ‘s a e ne ri in a is is c a en e en
as i is s e says a in an I a s a e a fa i y af er
a n ann a e ers i i E ers isse c s s francs
an ree ar ers f e c i en e se e si nif ican y is c n e ree year e ers i for francs
The Entrepreneur Herselfan ra a is e er f
c i ren an i es in ric e as e e year en re
rene r if s e c es i a e er ee y r a efini e y I
r f f i e siness an fa i y are s ric y se ara e
e s e n y ans ers e ai s in e s seri s f e er encies er ise i can ai rin in e e er ency ar a e
s i a I earne a c n s as an e er ency an a esn
cc r in y er ea is e r ani e a es res nsi i i y an
in s si e e s a ea er is is s as i r an er as a a s ere an ri r i i a i n I n e ie e in ryin e ery in a nce
a finis es e c c a e I n e ie e in e cessi e y s ric
n ri i na i s ies ei er e s en y rse es s e
says i a a
Exersuisse
The company Exersuisse operates 20 training centers in western and German-speaking Switzerland, as well as in Ticino. It counts on over 30 years of experience in healthy strength training. In 2011, Exersuisse was founded by Jost Thoma Holding AG, which had oper-ated all Kieser Training locations in Switzerland as franchises for the previous 30 years. The company employs roughly 180 people. e ers isse c
E ers isse
e n er f eena e c ien s an ra a a ri es is a
y c re a r a y as s e in i se f resena i n ia s cia e ia e er
e en ana ers are s ec e a i e f i er e re
s ccessf e e see an e re e e f r e re e ifes y es e e c ear y nee s e in n a res es a i E s fr ar e c anies I a e as yse f ere ey fin
e i e e en s ar ici a e in e recrea i na s r s f
e e i e In er fa er s a a f r er na i na ice
c ey ayer ene is f irs f i ness s i I asn ca e E ers isse er fa er na e e franc isin ieser rainin af er
e e er erner ieser s a c i I as e arrasse a a a y aren s i
ren rainin as e n n in e ei ies e e e
about ‘ ea fac ries ey ere s f r rain ess sc e en an sessi e ie ers a
re e ers en c in er f r inner er c ass a es ere a e
re s r rise y e ar e ea s er er ser e en s e as a e an e in
an rainin in er aren s y f er i sc s e eci e
s y e icine s a y n c r s e a een r in a a s i a f r s f r years en er fa er
ie in an acci en in e nains en s s a in e
s ccess r a s asse a ay s en y a as face i
ne f e i es ecisi ns f er ife a a e I res e fi e ana e en ac yse f e en I a ne er anne says e sec n enera i n en re rene r e ne i s e ca e en years a er
How Kieser Became ExersuisseIn en e ieser franc iser eci e n e en e c n rac f r re resen a i n f e
ran in i er an s e an er e er ea eca e
in e en en af er years f siness ranc isin ca e i a f res ric i ns e ere a e a e a c rse ff
e are c e e y free is is e f r er ieser faci i ies
eca e E ers isse faci i ies i a ne ran e ss i e ia e y
en n a s in s ree yin e i en f r eccen ric sc e
rainin ese inn a i e e ices c a en e e sc es s
s en ey reac eir i es efficiency in e eccen ric
ase f sc e ac i i y en e ei s are ein e n an s an inn a i e i
ec anis e rainin ei increases y in e eccen ric
ase a in e sc e ac ie e i a rainin a
e ins e ain ene er s e
a s a e an sc ar sys e i s i e ia e y c ear e en re rene r i es c ine er siness i er
e ica n e e is r i es e c ien s f E ers isse i
a f enefi e e i en c rres n s i e a es
e ica n e e an rainin is ase n e rinci e f sin e ini ac ie e e a i
e E ers isse r ra n y a es in es rainin is
s in ense i s a y e i e af er a f an r e r ise e ss a s i a
s i e e res s an e c rres n in e ein are a es i n
f re ari y e rains nce r ice eac ee e a inen s are en ere in e
ca en ar as seri s y as ee in s r in is i e r s in
y r ee i isn s e in I can s i
What Sets Strength Training Apart From Sports
any f er c ien s se e e ica a is ry ser ice e an er c ea es are fre en y
as e a a es a ea y r e y s ar n ra in
in an ie in e s are en ess ysi ica y e aren
a e f r r nnin ara ns r in s ren rainin fi e i es a
ee ren rainin is n a s r says e ner f near y
en r s e ercise ac ines In fac i s ac a y e
rere isi e necessary f r ayin s r s ca a y an re cin in ries f er an in r c i n er c ien s are acc anie y a rainer f r e ery en r is
ensures a e a f r e a e s ren enin ac
sc es s ays in f c s en
“I don’t believe in trying to do everything at once.”
E ers isse
* This article is published courtesy of the magazine Women in Business
entrepreneur 02/2016 2524 entrepreneur 02/2016
ai en
Kaizen Video
Video on Noventa Consulting AG and Kaizen: See what a pro- duction line looks like after Kaizen and get the story behind tools such as kanban. The link to the film: credit-suisse/entrepreneur
e an an a eac r s a i n Eac s ace n y as a is ac a y nee e E ery in e se is e ere i e n s eca se i e s en in f r in s is
a s a as e
Painful at Firstai en e en s in e ery siness
area an is e race y e ery e yee a e ery e e f ana e
en is eans a e ery ne ass es res nsi i i y c n ri es i eas an is er e a y r in
i i e r f s an i r e e se es s rn
reise n es “ ea nesses ec e e i en r is in f sys e a ic s if in in in
I is cer ain y a y ica ar f e r cess f r c anies an r in e e ear y n eca se ey are s en y c nfr n e i iss es a ey s se y i n a e ef re an ai en
is ainf a firs e er e ess sinesses se e yees a e
e race ai en r ce e er a i y an re re en e i ess
eff r s rn reise in s any c anies ffs re eir
r c i n e c s ress re
e f en see e er a e en c anies s c as ese a e n f y a e eir en ia an
a ey c ee a a e s in i er an y c an in
eir era i ns ”
Kaizen-Based Email Management s e se in s in y r e ai
r ra s a inc in e ai s n r crea e s n s
n y rea an ans er e ai s a s ecific sc e e i es
n y rea e ai s if y a e i e ans er e as e
• ene er ssi e n y en an rea eac e ai nce
rea e a s ar fi in s r c re• If y cann ans er an e ai
i e ia e y se a re in er s y see i a ain a er n
rea e s an ar e es f r rec rrin e ai ics
Noventa Consulting
Noventa Consulting AG was created ten years ago as a subsidiary of Noventa AG. The parent company had previously been feeling the existential threat of price pressures. By introducing Kaizen, they managed to significantly reduce production costs – in some areas by up to 35%. As a result of this success, Noventa Consulting AG was founded, with a particular focus on sharing this great po-tential with other companies. Today, it successfully advises other companies on implementing Kaizen and Lean Management.n en a c
Improving through Change
ai en
Kaizen: Higher Revenues with Less Effort "Kaizen” became an interna-tionally recognized term through auto manufacturer Toyota, which has used this Japanese philosophy in its production for decades. Noventa Consulting AG advises companies on implementing Kaizen and believes that if im-plemented consistently, it could keep many jobs in Switzerland. — Mariska Beirne
n isi in a c ien s r c i n an ai en s ecia is an irec r f en a ns in
rn reise y ica y sees r f r i r e en a e ery firs
ance r c i n is f en carrie in ar e f a s ace an r f s are inefficien e ses
an e a e e ain a e eans y is e s say y a e a e san ic es a
y firs s e e r a y ay s ices f
rea n a a e s rea a e in re ien s n an en c se an ra e san ic es
r n says rn reise e ri ay i is a ays
a e an en ire san ic ra i an en e s ar e n e ne ne a ay e a s y a e are s r er since i a
e s ices ai y nee a ar n e a e reac a f e s y ic eac
s ice i e i es e e ains
Preventing Wasteai en is ase n e ass i n a e s a s is ne er erfec
is c n in s y i en ic r cesses c e i
r e en ance a i y s r en r c i n i es an a e c ien s
re sa isfie erfec i n ay e na aina e ere is a ays
en ia f r i r e en e er ean ana e en is c se y
ass cia e i ai en e e s se i e en e ai en a r ac are escri e
as ean eir ain a ere is re en as e e er ca se
y e cess r c i n r y a in ar e f a are se re n
an e en s ai in r err rs ecia e asis is ace
n c ean iness an r er iness in
26 Entrepreneur 02/2016 Entrepreneur 02/2016 27
ei r
is r re s ac ines i se f ef re r cin a ne e E n reas einer ri a in an e yee s an in ne e sy f efficiency f r ei
ei r
A Valve Manufacturer That Can Handle Pressure Seitz makes valves for various industries, including PET bottle production and nuclear power plants. Four years ago, the company made the decision to keep its pro- duction facility in Switzerland despite tremendous cost pressure. CEO Andreas Steiner tells us what actions were taken to boost efficiency follow-ing that decision. — Mariska Beirne
Five years ago, Seitz was facing financial trouble. Why was that?
e a in es e ea i y in y r en a es f r e a i e
in s ry r e i n ay ff en e in s ria ren ea e
in a ifferen irec i n e sa e i e e a s e a ne ec e er areas e c ai e effec f se ac i ns s in a iffic si a i n
How did you react?e a as rse es s e
s ra e ic es i ns re a f r siness ni s s i a fi f r
s e c n in e r cin in e ensi e i er an r e a r a I rne a i eran is e s efficien ca i n f r s a e r r c i n
That is surprising. Could you explain that?
e ana e ea i y a a e r r c i n faci i y In ar ic
ar e in es e in r ic sys e s a n n y fi e ac ines i ar s a s re e a ay e can an fac re a ifferen
e i an a in er en i n es i e e a a i n e i
n a e c e n er f e yees eca se e n a s
a e e ar s rse es a e se r c re fr s iers
In 2011, Seitz received the Swiss Lean Award. What part of the award was lean?
e ean” refers r c i n s e a ar as f r a in ean
r c i n rac ices in er r s re en in as e i er an as een an e ensi e c n ry r ce in f r a n i e an ei rea i e ear y a efficiency
is e ey sec rin iss s e fac a r r c i n
28 Entrepreneur 02/2016 Entrepreneur 02/2016 29
1Switzerland is considered one of the most competitive countries in the world. What does it do better than other countries?
ac in na ra res rces i eran as a ays een f rce
inn a e an e e er sources f inc e s c as a ric re ris in s ry an
e ser ice sec r e s a es ic ar e f rces iss
c anies rs e sa es a r a a an ear y s a e an a e
n c e i i n a a a e e are y e ec n r
ar e r rien e iss in sries ere a s a e enefi
fr E r ean rec ns r c i n
eff r s nce eace as res re In a i i n i er an c n in es
a rac i y a ifie r ers n fina y i er an s i era
s a i i y rien e ec n ic icy an ra i i na y een e asis
n ar r e ica i n an e ca i n ere a s e f
2But why, then, is Switzerland receiving more and more criticism for being unproductive? Are we inefficient?
e iss n ac a y r re r c i e y an eir nei rs e een an r ss
es ic r c re n a era e y ercen a year
a ra e c nsi era y s r n er an a f e E ercen
n a er ca i a asis i eran a s e in r er ca i a in is c n ry a n s er year c are i
f r e E
3What are the reasons for this?
is is ar y s e nsi e f e s ccessf in e ra i n f
a r ers in e a r ar e inc in se i er a r
r c i i y i er an s c ara i e y n r in rs a s ser e re ce r c i i y r
e fac is e er a i eran s es ic sec r is n ery r c i e n i e e i y r c i e e r sec r r ci i y in e es ic ec n y
effec i e y s a na e fr en a s e f r rices
s er year
4What does Switzerland need to become more productive again?
any in ica i ns s es a increase enin f e iss ec n y es ecia y in in s ries
a c rren y face n in erna i na c e i i n an f r er erea i n f e ser ice sec r s ren en r c i i y r
You can see and read about the lean management system at Seitz here:
credit-suisse.com/entrepreneur
Four Questions for Bettina Rutschi
Bettina Rutschi acr esearc i er an
re i isse
esearc
Seitz Group
Eugen Seitz founded the family firm in 1958. Since 1992, it has been in the hands of his son and chairman of the board of directors, Urs Seitz. Andreas Steiner is its CEO. The company is currently working out its succession management. In the medium term, Fabian Seitz, the son of the current owner, will take over running the company. The company with its 100 employees produces valves and valve systems for a variety of purposes, including the PET bottle industry, nuclear power plants, large engines, and natural gas refueling sta-tions and is the market leader in many areas. The company’s head-quarters are located in Wetzikon in the canton of Zurich. Since 2003, Seitz has had a branch in China, which is responsible for sales and service throughout Asia. Ninety-five percent of the goods the company produces are exported.sei c
r cess as a rea y esi ne e ean e en ef re e E r ean e crisis as a re en s e s er ise e s r n
iss franc a e affec e s a re
Is your production plant the only part of your company that works according to lean criteria?
s e e refer ri ari y to r c i n r cesses en
ey se e r ean e er e ean e y
es n a e i s f effec n i a areas f e siness
are in e i n e are res r c rin r ffices
acc r in ean rac ices is en e a e a in e a
n er f e yees as ean c ac es ey a en c asses e ise
eas res an en e eir c r ers in e ean ana e
en f en enera es i s n en en y e ery ne
is seein e en re r f r i r e en e ery ere
Can you give some examples? n i s recen y i as a in s ay n r ce r
y es e en ana y e e en ire r cess an c n e a a f
s e s r re ri r s annin f e r c i n r cess
an e i ina in nnecessary s e s e ana e c e
r c i n i e r y in a f
And what about administration? What does lean look like there?
r er is i r an in a area as e eca se a in f r in s is a f r f as e I se
a e ari s s ac s f f ers n y es ay e ery in is i
in reac an i i e in ree ca e ries in s I se ai y
ee y an n y E ery in as i s assi ne ace If any in a ens e y e y can
i e ia e y fin a e nee s
Hopefully, that won’t be necessary. But your successor was announced just recently. What changes are about to take place at Seitz?
r e i e ein n ne er e e i er a ian ei
e s n f r c any s ner rs ei i e a in er y
f nc i n I a rea y ne a en I as ire a ian ei is c rren y earnin is s ri es
si e e c any s a e i ssess e necessary s i s
en i c es i e ass e is si i n as E
“Lean management often generates its own momentum. Suddenly, everyone is seeing even more room for improvement everywhere.”
ei r
30 Entrepreneur 02/2016 entrepreneur 02/2016 31
ar ners f re i isse
Our Network for Your Success
Published by: re i isse Editor-in-Chief/Project Management: e a rec Editorial assistants: aris a eirne a ricia e i a ric s en er er e ina sc i nne r r Project lead: a i c i Production
and design: r raf i ar n e Photography: er e i ris ian anc er ri a ri an
Translations: re i isse an a e rans a i n er ices Printing: y r Circulation: c ies
i e in
e f in isc ai er is a i f r a a es an e c n in is a a ine e inf r a i n r i e erein c ns i es ar e in a eria I is n in es en a ice r er ise ase n a c nsi era i n f e ers na circ s ances f e a ressee n r is i e res f an ec i e r in e en en financia ana ysis e inf r a i n r i e erein is n
e a y in in an i es n c ns i e an ffer r in i a i n en er in any y e f financia ransac i n e inf r a i n r i e erein as r ce y re i isse r an r i s affi ia es an s si iaries ereaf er i e rea es f care an e es f i s n e e an e ief e inf r a i n an ie s e resse in is c en
are se f a e i e f ri in an ay e s ec c an e a any i e i n ice ey are eri e fr s rces e ie e e re ia e r i es n aran ee i re ar e c n en an c e eness f e inf r a i n an es n acce any ia i i y f r sses a i arise fr a in se f e inf r a i n n ess er ise in icae a fi res are na i e e inf r a i n r i e in is c en is f r e e c si e se f e reci ien ei er is inf r a i n n r c ies f i ay e sen a en in r is ri e in e ni e a es r is ri e any ers n i in e eanin f e a i n f e ec ri ies c f in i s a ica e f r is c en ay
n e re r ce ei er in ar r in f i e ri en er issi n f yri re i isse r an r i s affi ia es an s si iaries ri s reser e
is in e ai s er
Increase Efficiency
Oct
ober
201
6
Digital Natives in the Driving Seat Marc and Kevin Willy are the clever minds behind the successful Swiss fashion label Nile.
Success Factors for SMEs Study: Digitalization as a means of compensating for locational disadvantages.
Japanese Secret to Success Kaizen: How a philosophy is making companies more efficient and securing Swiss jobs.
Entrepreneur
e r y
More Information on the Company:
trecor.ch
“ rec r is a fas rac c any fr icin a as i resse
e f r a n i e n s a manfac rer f s ain ess s ee a c
cases an an s e c any as face a s ar ec ine in e ry
s se en an a s i e in a c e i i n in recen years
r c e er in es en s in aa i n an an s i s e ensi e
e er ise e c any as s ccessf y s i s r n in a fierce y c e i i e ar e
r ins ance e c any n uses i recisi n r ics
r cess ia n s a reci s
c i y i an err r free ra e f ”
High-Precision at Trecor SA
Time and again, Andreas Gerber notices exceptional companies in his contact with clients. Here, he describes one that has particularly impressed him recently.
n reas er er ea f E siness i er an
rec r is c any as n s ie a ay fr ar e in es en s in r c i n
for Risk Capital for SMEsSVC – Ltd.