One does not need to have huge amounts of capital to start a business, but a clear plan, youth and graduates have been advised.
This was disclosed by members of the Association of Student Survivors of Genocide and Survivors Fund (SURF) during the launch of the first meeting of AERG Business Networking Club in Remera, Gasabo.
“Most youth lack networks and mentorship from successful business owners. That’s why the majority fail to raise startup capital,” said Kelsey Finnegan, a project officer at SURF.
Finnegan said it is important for youth to make clear plans before investing in any project.
“And after drawing a clear plan, young entrepreneurs should network with established businesses to learn how to run profitable ventures,” Finnegan added.
Jean Paul Nyiribakwe, the Youth Entrepreneurship Training Programme (YETP) co-ordinator, said youth can acquire startup capital for their projects from financial institutions. “We work with banks such as Duterimbere to provide non-secured loans of up to Rwf5 million,” Nyiribakwe explained.
YETP trains young entrepreneurs to enable them start and operate businesses profitably.
One of the beneficiaries is Emmanuel Ngayaboshya, the proprietor of Kaizen Night Club in Kabeza. Ngayaboshya advised young entrepreneurs to develop products based on the weaknesses of their competitors after thorough networking.