Entrepreneurs ought to continuously seek for expert knowledge that can help them sustainably run their enterprises and develop capacity to create more jobs, an enterprise development mentor has noted.
According to Mr Charles Ocici, the Enterprise Uganda executive director, Uganda’s job market can grow steadily if every business establishment has a continuous value addition strategy that considers adding something new to keep aligning it (business) to the dynamic trends through consulting experts.
“Posterity in businesses that can have impact in job creation requires their managers to tap into expert knowledge provided by professional business mentors, a case that does not exclude heavily capitalised and small scale investments,” he said on Wednesday while addressing over 1,500 participants during a one day conference in Kampala.
The conference was one of the key activities to mark the Global Entrepreneurship Week (GEW) 2014 under the theme: Breaking Business Barriers.
Mr Ocici pointed out that Uganda faces a high mortality of small businesses because owners don’t mind about formalising them, they engage into rapid investment diversification, failure to separate business from personal problems that require spending, unplanned acquisition of loans among others.
About the GEW
Global Entrepreneurship Week is the world’s largest celebration of the innovators and job creators, who launch startups that bring ideas to life, drive economic growth and expand human welfare.
During one week each November, GEW inspires people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovators.
These activities, from large-scale competitions and events to intimate networking gatherings, connect participants to potential collaborators, mentors and even investors introducing them to new possibilities and exciting opportunities.
The initiative launched in 2008, has since grown to 125 countries with 24,008 partner organisations planning 33,846 activities that directly engage millions of participants every year.
It is about unleashing ideas and doing what it takes to bring them to life-spotting opportunities, taking risks, solving problems, being creative, building connections and learning from both failure and success.
SOURCE: Daily Monitor