Phalombe youths drilled in business management

PHALOMBE, Skills development among the youths is said to be key in harnessing an entrepreneurial spirit among Malawians that can propel the country’s social economic development.

Assistant Cooperatives Liaison Officer for Phalombe Business Support Unit (BSU), Aubrey Mwamadi, made the sentiment on Tuesday on the sidelines of a business management skills development training that the Unit provided to young entrepreneurs in the district.

Among other things, the training was designed to prepare the youths to face the ever-changing business environment in Malawi for their businesses to survive tough conditions.

He said there is an enormous amount of young people who start businesses every year in the country but their businesses gradually die down due to lack of proper business management skills and knowledge.

Having more young people in profitable businesses is the only way to save the youthful population from worries about acute unemployment. But sadly many young people end up getting frustrated and develop negativity for business, Mwamadi said.

He further indicated that the Unit believes that having many young people in businesses while they understand the dynamics of the country’s economy can save Malawi from the usual cries about youth unemployment and indulgence in self destructive behaviors.

A total of 15 established and aspiring young business people from the district attended the training prior to accessing start up and upgrading business loans from a money lending institution, Vision Fund.

In an interview, one of the established business youths, Clinton Willias, concurred with Mwamadi saying many young people fail in their business endeavors due to lack of knowledge on how to run a business.

We all know that Malawi has a young population as such their failure to develop directly impacts the country’s development, he said.

The BSU is a government unit established under the Local Development Fund (LDF) with the aim of providing support to small and large scale business operators.

Source: Malawi News Agency MANA