Maun — Minister of Youth Empowerment, Sports and Culture Development, Mr Tumiso Rakgare, says partnerships are key for entrepreneurs to grow their businesses.
Mr Rakgare made the remarks at a Project 124 entrepreneurship seminar held in Maun on Saturday October 17, where he urged youth entrepreneurs to partner with people of different capabilities and education qualifications to form strong entrepreneurial partnerships.
He said strong partnerships would help their business survive and urged young entrepreneurs to utilise social media in marketing and building their businesses.
Mr Rakgare said successful youth businesses would help the country through job creation . He therefore urged attendants to make use of the Project 124 seminar.
Project 124 Director Mr Goitsemang Khutsafalo said the initiative, which was a division of Launchit International was incepted in 2016 to capacitate young people to build strong businesses in Botswana and other parts of Africa.
He said Project 124 came about because many youth run businesses collapsed due to lack of management and skills. "We host a series of events, go around the country and scout for people with good business ideas," he said.
Mr Khutsafalo said the motive was for the young people to develop long lasting businesses while some got a chance to get investors. He said so far 802 people had been reached since the project began, while 28 people had created companies and four found investors.
He noted that Project 124 seminar in Maun attracted 50 people as compared to 17 people last year.
He said the initiative had assisted many young people who managed to receive funding from Citizen Entrepreneurial Development Agency (CEDA) and Youth Development Fund (YDF) after undergoing the entrepreneurship seminars.
He said the plan was to initiate for Memorandum of Agreement with CEDA and YDF in future to capacitate youth before applying for funding. Project 124 mentor, Mr Koziba Sebina said it was important for entrepreneurs to forge partnerships and shareholder agreements for the business to grow.
He noted that it was critical for an entrepreneur to categorize his or her market in terms of age, location and even salary range. He said business meetings were also important even if the business was run by a sole proprietor.
Source : BOPA