Local entrepreneurs tipped on efficient business management

ClOSE to 30 small and medium enterprises countrywide were yesterday advised to practice efficient management in their day to day business activities. The trainers, Business Professionals Network, a not-for-profit organisation that was started in 2011 by Swiss philanthropist, Jurg Opprecht to support small and medium enterprises said it was important the business persons streamline their practices along the required standards.“Entrepreneurs are making a number of mistakes from cash-flow management to standards. From managing investment and how to invest. All these and more have to be in line with a standard business plan which you follow as an entrepreneur,” explained Hans Wihelm, chief executive officer of the organisation.A number of the entrepreneurs cited a number of challenges like producing goods of the required standards and paying of taxes.Wihelm advised the professionals to always follow values they set for their companies in their business plans if they are to grow and expand.He was happy with the policies Rwanda has in place to support small and medium enterprises and he pledged to render more support to the growing sector.The organisation picks between 20-30 entrepreneurs each year for the four-year training that, at the end of the day enables an entrepreneur become one who can manage all financial, human resource, marketing and standards departments of his or her firm.Over 80 per cent of Rwandan businesses are small and medium enterprises. The government is promoting entrepreneurship especially among the youth through the Technical and Vocational Education Training programme in a bid to create more off-farm jobs which will project the economy to sustainable double digit growth.

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Local entrepreneurs tipped on efficient business management