Small and Medium Entrepreneurs SME’s have been advised to form networks in an effort to acquire new business skills and exploit available opportunities.
SMEs can successfully grow into larger enterprises only through adoption and use of such networks, Zuhura Muro, KCB Bank Board Director said in Dar es Salaam over the weekend during a training programme conducted by the bank.
She said the focus of the training was to enable small and medium entrepreneurs manage their businesses for sustainable development, but networking was still important for their development.
Muro underlined however that the training was also important for creating new opportunities and a strong business community in the region.
"This time we decided to empower young entrepreneurs. Tthrough the workshop we hope they will discover trade opportunities through the experience and knowledge they got," she said.
Peace Lumelezi, seminar facilitator said regular training to businesses and entrepreneurs is important because it gives them ability to identify suitable locations for business and when to do business.
Lumelezi revealed that many financial institutions were hesitant to lend to small entrepreneurs.
"There are numerous challenges faced by this group. Likewise effective networking among them will help resolve some challenges which include access to loans,” he said.