Youths Urged to develop clear focus in entrepreneurship

Jun 5, 2023 - 22:38
 0
Youths Urged to develop clear focus in entrepreneurship
Courtesy ; The Standard

Nakuru, Monday, June 5, 2023

KNA by Veronica Bosibori

The chairman of Small-Scale businesses in Nakuru city, Johnston Ndegwa today said that a number of businesses started by the youths lacked a clear focus due to a deficiency of training on market identification and management of finances, which leads them to close within a short period.

He regretted that many youths who startup businesses in the city were not prepared for the hard work and the majority are sponsored by parents just to keep them busy due to the high unemployment rate in the country.

The chairman said while the parents’ support for their jobless youths was a noble idea, the assumption that business was an easier route to creating wealth, collapses fast because they don’t save and most of the business capital goes into subsistence expenditure.  

Speaking today during a training session at a Nakuru hotel, Ndegwa said a business person would only triumph if they have a passion and a long-term plan to achieve it.   

He noted that a high number of local entrepreneurs have the wrong reasons for joining the business adding that the majority of them start with the primary goal of either making a lot of money or becoming their own bosses.

But, he said, business requires determination, patience, and a strong belief in their chosen venture. “Today’s youth are impatient and they want everything they do to bear fruit immediately. They don’t want to struggle or trust the process,” says Ndegwa.

For example, he said if a person starts a business, he or she expects it to run smoothly without strain, which is impossible.

He added that whenever young people’s businesses faced challenges, they easily give up, and abandon it rather than being patient and trying to fix the problem.

He advised the upcoming young business persons to learn patience and take a step at a time until their investment stabilizes, since there’s no shortcut to having wealth, other than honestly working for it.

Finally, he observed that a majority of thriving businesses in the city were managed by elderly people between the ages of 60 to 70 years, who have no succession plans, hence the reason the Nakuru Law courts have numerous succession cases.  

Courtesy ; K. N. A

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