RE: “Access to finance takes centre stage as entrepreneurship week is launched” (The New Times, November 15).
Our Government has done a lot in promoting and encouraging entrepreneurship. And it seems there is genuine goodwill to continue doing so. Also, yes, for many, there still is gap in managerial skills required to efficiently run an enterprise; at different stages of its growth.
And yes, obviously there also is ‘headache’ in getting necessary finance when it is required, especially for women and young entrepreneurs with no or little collateral.
I’ll remind everyone concerned that there is a third major hindrance that entrepreneurs face, yet less talked about: the nature and quality of the product or service, the raison d’etre of the enterprise.
Basically, entrepreneurship is far from just having a genius “idea”. Instead, effective entrepreneurship is first and foremost having the right product/service to manufacture and sell.
Once the rightness of the product or service is checked, double-checked and assured, then and only then, one looks around for different kinds of infrastructural and marketing means appropriate and necessary to manufacture and sell the carefully selected product or service.
Perhaps our government should, first, institute a public body whose mandate would be to train the would-be entrepreneurs and their aids, prior to venturing into business, to turn their wonderful “ideas” into products/services that will effectively and successfully sell in the designated markets.
No rush for big money, and please avoid hasty improvisations!