SMEs should not wait on Govt. for hand-outs

19 Nov 2016 10:20am
WALVIS BAY, 19 NOV (NAMPA) - A businessman from Walvis Bay has encouraged Namibians to work hard and avoid waiting for Government and the private sector to assist them.
Owner of T&M Machine Tools, Tunino Haskell, said this at a roundtable discussion organised by Standard Bank Namibia and SME Compete for young businesses at this coastal town on Friday.
The annual event provides aspiring businesspersons with advice and mentorship by bringing them in contact with established business owners who then share expertise and knowledge for local Small Medium Enterprises (SME) to grow.
Making a general statement after an inspiring recount of his business, Haskell said it is best for people to work for themselves instead of depending on others.
“Business is tough but we must stop sitting around and wait for hand-outs.”
Haskell encouraged small business owners to compete against bigger ones and not allow such companies to buy them out.
“When I started, I was offered a lot of money by a big company in exchange for my company. I was tempted but I realised it is not wise, so I turned down the offer.”
Haskell said being an established businessperson he believes that sharing knowledge is important so that those who are learning can use the information to make informed decisions.
At the same event, Standard Bank Namibia coastal manager, Ronald Einbeck advised businesspersons to manage their money wisely, focus on making profit and maintaining businesses by not giving up, and reinvesting.
“Everything starts small but with dedication and passion you will make it.”
Einbeck gave a presentation on the financial assistance offered by the bank and how to write good business plans.
He advised SMEs to surround themselves with people who have the same vision so that they can move forward together.
More than 30 SMEs from Walvis Bay and Swakopmund attended the session.