In the letter, “Development priorities should focus on the youth” (The New Times, March 30), it was said that “90% of locally registered companies in Uganda belonging to mostly the youth haven’t hit the breakeven point”.
This presents a disturbing revelation. We need to do something about it. It is one thing to see a problem and another to do something about it.
A friend of mine in Sheffield, UK, works with the Sheffield Chamber of Commerce that supports young businesses to grow in Africa. They run what is called the Business Incubation Project (BIP) and my friend and I have been persuading BIP to come to Rwanda specifically, but it could be any country in East Africa.
BIP helps fresh graduates from the university not to look for jobs but also to create their own jobs. BIP trains and coaches them to be entrepreneurs but also helps them get seed capital from various sources.
I think with the kind of coaching and training BIP provides, the alarming business mortality rate can reduce or be eradicated completely.
There is no reason why we shouldn’t see enterprises born today live longer and grow into big ventures. We shall finally see this no doubt.