GOVERNMENT says despite facing various challenges, small and medium enterprises (SMEs) should consider taking up responsibilities and risks that are critical in developing their businesses.
Minister of Commerce, Trade, and Industry Margaret Mwanakatwe said SMEs need to reflect on the change they wish to see in their businesses if, they are to develop.
Mrs Mwanakatwe said in a speech read on her behalf by the director domestic, trade and commerce Georgina Kasapatu that Government is aware of the various challenges faced by SMEs that limit their growth.
This was during the official opening of the joint ninth annual SME conference by the Zambia Chamber of Small and Medium Business Associations (ZCSMBA) and the Association of Chartered Certified Accountants (ACCA) under the theme, ‘Opportunities for SMEs in the current business environment’.
“As SMEs, take advantage of this platform. It should not be another business conference as usual, but rather one that is going to transform your mindset and the way of doing businesses. Successful entrepreneurs are always looking for new and better ways of doing things.
“I would like to urge you that there is no time for you to remain static in business otherwise, you run the risk of being run over,” she said.
Earlier, ZCSMBA chairperson William Chisoko said MSMEs need support from various stakeholders, Government, donors and cooperating partners to stimulate growth and expand their businesses.
Mr Chisoko said Government should consider coming with up initiatives that will address various challenges affecting SMEs.
“We would like to appeal to Government to critically look into various issues affecting us such as the high interest rates, markets constraints which includes unfair competition from the outside to mention a few,” he said.
Mr Chisoko also urged SMEs to look for opportunities and networks with their fellow business counterparts to contribute to national development.
Earlier, ACCA Zambia head Mukaba Mukaba said the association is committed in providing financial management training among SMEs as it is a key catalyst to grow their businesses because the sector has the potential to drive economic growth.
“Our main focus is equipping the SME owner managers and executives with the much-needed financial management knowledge and skills to enable them effectively manage their businesses,” he said.
Stop making empty statements about small business management when you’ve failed to run your own small businesses using borrowed money from CEEC. State making plans for paying back the bad debt at CEEC that you and your husband got. That money is meant to help a-lot more Zambian. PAY BACK THE MONEY.
Between the two Mwanakatwes, they have failed to run a huge parastatal, Zamtel, and their family SME making roofing sheets. Are these loud mouths fit to advise anybody about how to run a business or even make policies about businesses?
Maggie’s facial expressions are funny…
Can somebody explain to this failed Minister than small business are dying due to her incompetence?
Madame, shift your fat bottom and start earning your salary instead of adding insults to 5 years of injury.
Single mothers who’s only means to feed their children is selling dry fish are being robbed by the law enforcers. They make roadblocks just to terrorise the poor fish traders and take away all their merchandise or risk being jailed. After all is said and done their only option is to turn to prostitution in order to be able to feed their children.
Take some responsibility and pay back your loans?
Such mean people should have no business serving as Commerce Minister. ECL appears to love accountants to manage our affairs one at Finance the other one at commerce. How we failed to beat this lot I will never know but if we sing nglingli bello yalila…as a campaign song you wonder smh. UPND is like that beautiful bride who instead of showing her best qualities doesn’t comb her hair, wears dirty under garments over a beautiful bridal dress and then goes to seek a suitor. We have a failed number 9 in HH he can never win us an election and he celebrates that people are struggling because he believes only he can rule…HH zwaaaaa..2021 new UPND Zambia Forward.
Risks like borrowing without paying back!!
Yes take risks. Borrow money and refuse to pay. Good example madam minister.
DEAR MARGARET KINDLY PAY BACK YOUR LOAN SO THAT SMALL COMPANIES CAN ALSO BORROW TO EXPAND THEIR BUSINESSES