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SME’s urged to be financially disciplined

A University of Zambia lecturer in the department of Development Studies (DS) has urged small and medium enterprises (SMEs) to exercise financial discipline if they are to succeed in their businesses.

In an interview with the Lusaka Star, DS Lecturer, McDonald Chanda said SME’s need to cultivate entrepreneurial skills such as financial management and resiliency if they are to boom.

“In entrepreneurship people need to have a few skills here and there, they need to focus and possess requirements needed because an entrepreneur should be resilient; an individual who never gives up  but continues to produce value,” said Mr. Chanda.

He said SME’s have a huge role to play in economic development hence the need for them to be proactive.

Mr. Chanda further hailed Government and cooperating partners for recognizing the role of SME’s in transforming the economy by providing an enabling environment for their growth.

The lecturer has since thanked African Development Bank for providing financial accessibility to SME’s in Zambia through commercial banks.

Meanwhile, a student Entrepreneur at the University of Zambia, Mapalo Lukashi  disclosed that the current business environment in the country is favorable and conducive.

Mr. Lukashi noted that the social and economic challenges that people are currently facing, provide viable business opportunities for business minded individuals to capitalize on because the economy has gaps which has to be filled in by entrepreneurs.

He further, urged Zambians to take entrepreneurship as a full time employment and participate in the economy directly.

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