By Bester Kayaye
Youths in the country have been challenged to develop bankable and solution based businesses in an effort to spark Malawi’s economic growth in line with vision 2063.
The challenge was made by Wealth Malawi MD Harry Chima during the opening of “The Eagles Nest Entrepreneurs Start up Masterclass aimed at equipping entrepreneurs with marketable skills on how to excel in their endeavours amidst the current economic hardships held at Mount Soche Hotel in Blantyre.
At the meeting, participants were drilled on how to position and package themselves to meet the required standards to secure finances from prospective financial institutions.
Chima observed that entrepreneurs are the driving force behind any economy, as they set up new businesses and industrial units which help with regional development.
He said: “These forums are aimed at bringing together entrepreneurs aspiring to endeavour in various sectors so that we empower them with vital tools required for them to excel in their business as we bring in relevant topics to meet the needs of start-up enterprises.”
“In these workshops we also make sure we bring experts in different fields so that they can share hands on industrial experiences in order for the entrepreneurs to know what to expect from the industry and how to dive through opposing currents in business.”
In his remarks, one of the participants Kelvin Dimba highlighted that the masterclass has helped him to attain more insight on how to advance his operations.
Dimba said; “The workshop has been an eye opener for me as a start-up entrepreneur, because there are many challenges on our way being at an infant stage ranging from financing, teabuilding, decision making and marketing among others, hence the workshop has helped to elaborate on all important areas. And it has also helped us to network with likeminded individuals on how to grow our businesses.”
Approximately 50% of Malawi’s GDP is from income generated from both formal and informal small and medium enterprises (SMEs), and 89% of employed people work in the informal sector.