BY BANELE MAGONGO
MBABANE – House of Assembly Speaker Jabulani Mabuza is of the view that the youth need more knowledge on business planning.
The Speaker said this during the 2023/24 annual performance debate of the Ministry of Commerce, Industry and Trade, which was held at Senate. Mabuza pleaded with Minister for Commerce, Industry and Trade Manqoba Khumalo to ensure that such knowledge was availed to the youth.
Mabuza commented that more young people would have been able to start and grow their own businesses if they had the right knowledge about business planning. He noted that many companies failed because they lacked a solid business plan, which was a critical factor for success.
Mabuza expressed his disappointment that many young people had great business ideas, but they lacked the skills and knowledge to develop a solid business plan. He further highlighted that access to funding was another major obstacle, as most lending institutions required young entrepreneurs to have a portion of the capital themselves. He stressed the need for more support and resources for young entrepreneurs to help them turn their ideas into successful businesses. Mabuza recommended that the ministry should appoint an officer to assist aspiring business owners with the development of business plans. This officer could provide guidance and resources, and help to connect young people with the appropriate experts and agencies to support their business development. The aim, according to Mabuza, would be to give young entrepreneurs the best chance of success in starting and growing their businesses.
