Business ventures need a thick skin – Litšiba
SMALL Business Development, Cooperatives and Marketing Minister Thabiso Litšiba has called on budding entrepreneurs to persevere and ensure they have sound business proposals.
Mr Litšiba made the remarks during the launch of a gamazine manufacturing company on Thursday in Maseru. Also in attendance at the launch was Public Works and Transport Deputy Minister Mokhele Moletsane.
Gamazine is a combination of crushed sand and crystal stones which is used for decorating building walls.
The new company, Matša Productions, offers customers gamazine and granite products manufactured in a variety of colours by co-owners Makalang and Tsabang Sethathi.
The minister said government was committed to supporting growing businesses which have been proven to be positive contributors to the economy.
“Statistics have proven that 90 percent of countries with thriving economies owe their wealth to small businesses,” said Mr Litšiba. “Businesses are social institutions that grow the economy regardless of size or type.
“Those who have businesses know all too well about the challenges thereof. They are very sensitive and need to be managed with due care.”
He added that the Small Business Development, Cooperatives and Marketing ministry had been created to support up-and-coming entreprises. The new ministry came about following a split of the former Ministry of Trade, Industry, Cooperatives and Marketing.
“We hope that other aspiring business people would soon find motivation from the example set by Matša Productions by investing in local production,” said Mr Litšiba.
Mr Litsiba urged budding entrepreneurs to work hard to buck the trend of “alarming statistics which show a high failure rate of new businesses which usually do not make it through the first and second years of operation”.
On his part, Mr Moletsane also urged young entrepreneurs pursuing their desired business opportunities to brace themselves accordingly for the cut-throat environment before resorting to approaching government for assistance.
The deputy minister revealed that since coming into office, he had to turn down requests from people who tried to entice him to solicit tenders on their behalf without following the correct procedures.
“Many youths are running away from shaping their mindset for business and opting instead to take a short-cut route,” said Mr Moletsane.
“I have had to turn down ridiculous approaches from people who made tender requests without wanting to follow the right procedure all in the name of making money.
“But, in as much as it is the government’s duty to create conducive means for businesses and to expand upon business concepts, the responsibility lies upon an entrepreneur to ensure their proposal is sound. Government can only guide their ambitions.”
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