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Get formal skills prior to investing, SMEs advised

23rd November 2012
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Small and Medium Entrepreneurs have been challenged to acquire formal business skills before they attempt to engage in the business industry.

Majority of entrepreneurial firms fail to mature into large enterprises because the founders who are also entrepreneurs have limited knowledge on the business industry itself.

Christine Manyeye, Human and Marketing Director with KBC Bank Tanzania revealed that yesterday in Morogoro at the ongoing training conducted by the bank.

During the training of Small and Medium Entrepreneurs, the director said the focus of the training was to enable small and medium entrepreneurs manage their business for sustainable development.

However, the director underscored that the training was very important for creating new business opportunities and creating a strong working unity among business people in the region.

“In return, we gave a little amount of benefit to the community, this time we have decided to empower young entrepreneurs who are within the areas where our services are available.

Through this workshop, it is our hope that they can exhaust trade opportunities through the experience and knowledge they acquire in this training,” she said.

Peace Lumelezi, one of the key presenters and facilitator said regular trainings to businessmen and entrepreneurs is important because they give them the ability to identify suitable business locations as well as the suitable time for conducting a particular type of business.

Lumelezi revealed that many financial institutions hesitate to lend money to small entrepreneurs who actually meet the criteria for acquiring various loans.

For his part, the Morogoro KCB branch Manager, Phillip Jacob urged entrepreneurs who have received such training not to stay out of sight of investing opportunities available in their areas because they have a greater chance of succeeding, especially in agriculture.

“We have seen investors from Dar es Salaam coming here and buy lands for agricultural purposes, something that we could do ourselves; so this knowledge should help you be innovative enough to expand your horizons instead of sticking to agriculture only,” he noted.

SOURCE: THE GUARDIAN