SMEs must take up the challenge
EDITOR — The work done by the Minister of Small to Medium Enterprises (SMEs), Sithembiso Nyoni, is very much commendable.
She has done her part and now it’s up to the SMEs to approach the relevant authorities and apply for funding.
As Minister Nyoni says the money is not for free but must be paid back with interest. This is a good move to instil a sense of discipline and seriousness in businesspeople.
Anything for free tends to be wasted and misused. Any business that benefits from this facility must be monitored and checked for progress.
They must change their way of operations and be aggressive is this crude environment. This is not the time to operate ordinarily but to add more stamina in order to stay afloat.
There is a need for those operating informally to formalise so that they benefit from the funding facility. Why struggle with business financing when there is money in the banks to take care of that area.
The banks responsible for the programme funding must, in the best interest of the beneficiaries and institutions themselves, facilitate workshops for the SMEs.
Most of the SMEs do not possess financial management knowledge and so as the Minister says must be equipped with such.
The mentality of living larger than your business kills the very entity which provides you with livelihood. This is why most of these businesspeople remain in that bracket of small entrepreneurs for the rest of their lives. SMEs must aim to be big companies some day. Banks must let the funds roll to the SMEs because there is no time to waste.
The minister must also seriously look even in the rural areas where small farmers are engaged in small businesses like that of chicken breeding, etc.
These also need capital for these businesses. Triple M, Gwabalanda, Bulawayo.