SMEs' failure down to owners' weaknesses

Editor, Refer to the editorial, “SMEs need our collective support” (The New Times, June 10). Let’s start from the beginning: an enterprise is created, first and foremost, around a product and/or a service to provide. But if the entrepreneur has poor knowledge of her product and/or service, even if they were skilled and with a lot of goodwill, enthusiasm and financing, in the long run the enterprise will fail. The entrepreneur may be working hard but if they are clueless about what they are dealing in they will fail. Consequently, the product/service will not attract clients because it is anything but what really is needed by buyers. Consequently, sooner or later the enterprise will fold. A product/service is nothing but an embodiment of knowledge drawn from several fields. Not only from finance and from all other resource management, but also and at various levels; including physics, chemistry, psychology, sociology, politics, history, fine arts, etc. Francois-Xavier Nziyonsenga

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SMEs' failure down to owners' weaknesses