5. Telling Stories: Preserving our Heritage one Storybook at a Time
4.SME’s need more funding in 2012
by Honorine Kaze
15 Dec 2011 -
21 Dec 2011
It is that time of the year whereby everyone looks back on their
achievements, trying to figure out who either impressed or inspired them
by what they do or are trying to achieve.
This year, The Villager went up and close to a number of Small and Medium Enterprises (SMEs) who are thriving to make it to top of the game and become employers instead of employees.
SMEs are considered the backbone of most economies and seen as a key source of economic growth, dynamism and flexibility.
A research done at the Bank of Namibia in 2005 revealed that SMEs contributed to approximately 12% of the Gross Domestic Product (GDP) and employed 20% of the workforce during 2004.
We have seen several remarkable business ideas developed by Namibians. We have reviewed designers, cake baking businesses, moulded wires into shapes, made our own beer, met our own travel agents and not forgetting a carpenter who refused to work for someone else, hence became his own boss, creating jobs.
Although they all have different stories, they all have one common goal; rising above it all and making the best out of their businesses.
Most of the businesses started in their houses and kitchens but they worked hard enough to move to proper commercial buildings.
The owner of Namibia Travel Counsellors, Getruida Stephanus, started off in her flat in 2008 with her housekeeper as the secretary but three years later leads an internationally recognised travel agency, operating from her offices in Maerua Mall with four employees on her pay roll.
Others started businesses with less than nothing; nonetheless, were not discouraged.
Andreas Joseph and Daniel Nelumbu after graduating from the Polytechnic of Namibia refused to remain just a part of the statistics of the country’s unemployed masses and decided to start off their IT company in 2009 with a N$2000 capital; they each put up N$1000 into the business as basic start-up capital after failing to get enough money from the bank to procure the equipment needed to start their company.
This tough start did not stop them and a couple of years later; they are not only giving IT services but have also opened Ekako Cleaning Services based in Ongwediva.
From some of the interesting business people featured was Willem February who learnt from his mistakes while in prison and decided to have a clean start by venturing into upholstery business. Starting up his business from his uncle’s backyard with little money he had saved from his previous jobs; he grew to having a stable clientele that goes beyond borders in the neighbouring countries; currently employing 20 people into his business.
Bennet Bessinger is an inspirational man who did not let disability tie him down as he started his signage business, which currently has four employees. Bessinger was also awarded the 2011 SINIEDA award following his previous award in the 2009 Ongwediva Trade Fair.
Helvi Itenge is a young woman who got tired of always relating to European tales to teach her children and decided instead to start writing children books by herself based on her Namibian upbringing and the African tales she was told as a child. Today, she has become a publishing author in her own right, having her children’s books on some of Namibian library, such as Edumeds and even further from home as 2000 of her books have been sold in Kenya thus far.
Although SMEs are meant to create jobs, generate income to families, assist in growth of transitional economies; they also need financial resources and infrastructure and the latter has availed to be some of the challenges faced by the SME owners.
One common point that kept popping up from most of the stories this year is the fact that most of those business success stories all started up from little personal savings, which is in itself an inspirational fact but if one probed further, they would find out the main raison behind the struggle starts is the fact that most of them had struggled securing a loan from either the banks or from the Ministry of Trade. Although have most of them applied for the loans, they never got them or are still waiting for the response from respective organisations.
Unfortunately, most Namibians who start up as SMEs hardly have collateral, which is required by banking institution to secure a loan, because of the high transaction costs used in supplying loans to SMEs.
Claudine Mouton, Director of SMEs Compete stresses on the necessity of supporting young entrepreneurs countrywide.
According to her, the SME Compete has so far funded 1 300 SMEs throughout the countries and its future plan is to support more SMEs. With that in mind, it will open a new SME Compete branch in Luderitz in an effort to get closer to more individuals.
The privately-owned SME Compete generates its own funding and helps SMEs grow businesses, create wealth and generate employment.
In conclusion, Namibians slowly understand the fact of creating their own employment as not employment can be granted by Government. However, there is a need of diversification of products on the market and one can hope for the availability of better funding for Namibian. From The Villager...
This year, The Villager went up and close to a number of Small and Medium Enterprises (SMEs) who are thriving to make it to top of the game and become employers instead of employees.
SMEs are considered the backbone of most economies and seen as a key source of economic growth, dynamism and flexibility.
A research done at the Bank of Namibia in 2005 revealed that SMEs contributed to approximately 12% of the Gross Domestic Product (GDP) and employed 20% of the workforce during 2004.
We have seen several remarkable business ideas developed by Namibians. We have reviewed designers, cake baking businesses, moulded wires into shapes, made our own beer, met our own travel agents and not forgetting a carpenter who refused to work for someone else, hence became his own boss, creating jobs.
Although they all have different stories, they all have one common goal; rising above it all and making the best out of their businesses.
Most of the businesses started in their houses and kitchens but they worked hard enough to move to proper commercial buildings.
The owner of Namibia Travel Counsellors, Getruida Stephanus, started off in her flat in 2008 with her housekeeper as the secretary but three years later leads an internationally recognised travel agency, operating from her offices in Maerua Mall with four employees on her pay roll.
Others started businesses with less than nothing; nonetheless, were not discouraged.
Andreas Joseph and Daniel Nelumbu after graduating from the Polytechnic of Namibia refused to remain just a part of the statistics of the country’s unemployed masses and decided to start off their IT company in 2009 with a N$2000 capital; they each put up N$1000 into the business as basic start-up capital after failing to get enough money from the bank to procure the equipment needed to start their company.
This tough start did not stop them and a couple of years later; they are not only giving IT services but have also opened Ekako Cleaning Services based in Ongwediva.
From some of the interesting business people featured was Willem February who learnt from his mistakes while in prison and decided to have a clean start by venturing into upholstery business. Starting up his business from his uncle’s backyard with little money he had saved from his previous jobs; he grew to having a stable clientele that goes beyond borders in the neighbouring countries; currently employing 20 people into his business.
Bennet Bessinger is an inspirational man who did not let disability tie him down as he started his signage business, which currently has four employees. Bessinger was also awarded the 2011 SINIEDA award following his previous award in the 2009 Ongwediva Trade Fair.
Helvi Itenge is a young woman who got tired of always relating to European tales to teach her children and decided instead to start writing children books by herself based on her Namibian upbringing and the African tales she was told as a child. Today, she has become a publishing author in her own right, having her children’s books on some of Namibian library, such as Edumeds and even further from home as 2000 of her books have been sold in Kenya thus far.
Although SMEs are meant to create jobs, generate income to families, assist in growth of transitional economies; they also need financial resources and infrastructure and the latter has availed to be some of the challenges faced by the SME owners.
One common point that kept popping up from most of the stories this year is the fact that most of those business success stories all started up from little personal savings, which is in itself an inspirational fact but if one probed further, they would find out the main raison behind the struggle starts is the fact that most of them had struggled securing a loan from either the banks or from the Ministry of Trade. Although have most of them applied for the loans, they never got them or are still waiting for the response from respective organisations.
Unfortunately, most Namibians who start up as SMEs hardly have collateral, which is required by banking institution to secure a loan, because of the high transaction costs used in supplying loans to SMEs.
Claudine Mouton, Director of SMEs Compete stresses on the necessity of supporting young entrepreneurs countrywide.
According to her, the SME Compete has so far funded 1 300 SMEs throughout the countries and its future plan is to support more SMEs. With that in mind, it will open a new SME Compete branch in Luderitz in an effort to get closer to more individuals.
The privately-owned SME Compete generates its own funding and helps SMEs grow businesses, create wealth and generate employment.
In conclusion, Namibians slowly understand the fact of creating their own employment as not employment can be granted by Government. However, there is a need of diversification of products on the market and one can hope for the availability of better funding for Namibian. From The Villager...
$$$ GENUINE LOAN WITH LOW INTEREST RATE APPLY $$$
ReplyDeleteDo you need finance to start up your own business or expand your business, Do you need funds to pay off your debt? We give out loan to interested individuals and company's who are seeking loan with good faith. Are you seriously in need of an urgent loan contact us.
LOAN APPLICATION DETAILS.
First Name:
Last Name:
Date Of Birth:
Address:
Sex:
Phone No:
City:
Zip Code:
State:
Country:
Nationality:
Occupation:
Monthly Income:
Loan Amount:
Loan Duration:
Purpose of the loan:
E-mail address:
Email: shadiraaliuloancompany1@gmail.com
Hello Everybody,
ReplyDeleteMy name is Ahmad Asnul Brunei, I contacted Mr Osman Loan Firm for a business loan amount of $250,000, Then i was told about the step of approving my requested loan amount, after taking the risk again because i was so much desperate of setting up a business to my greatest surprise, the loan amount was credited to my bank account within 24 banking hours without any stress of getting my loan. I was surprise because i was first fall a victim of scam! If you are interested of securing any loan amount & you are located in any country, I'll advise you can contact Mr Osman Loan Firm via email osmanloanserves@gmail.com
LOAN APPLICATION INFORMATION FORM
First name......
Middle name.....
2) Gender:.........
3) Loan Amount Needed:.........
4) Loan Duration:.........
5) Country:.........
6) Home Address:.........
7) Mobile Number:.........
8) Email address..........
9) Monthly Income:.....................
10) Occupation:...........................
11)Which site did you here about us.....................
Thanks and Best Regards.
Derek Email osmanloanserves@gmail.com
Hello Everybody,
My name is Ahmad Asnul Brunei, I contacted Mr Osman Loan Firm for a business loan amount of $250,000, Then i was told about the step of approving my requested loan amount, after taking the risk again because i was so much desperate of setting up a business to my greatest surprise, the loan amount was credited to my bank account within 24 banking hours without any stress of getting my loan. I was surprise because i was first fall a victim of scam! If you are interested of securing any loan amount & you are located in any country, I'll advise you can contact Mr Osman Loan Firm via email osmanloanserves@gmail.com
LOAN APPLICATION INFORMATION FORM
First name......
Middle name.....
2) Gender:.........
3) Loan Amount Needed:.........
4) Loan Duration:.........
5) Country:.........
6) Home Address:.........
7) Mobile Number:.........
8) Email address..........
9) Monthly Income:.....................
10) Occupation:...........................
11)Which site did you here about us.....................
Thanks and Best Regards.
Derek Email osmanloanserves@gmail.com
Hello Everybody,
My name is Ahmad Asnul Brunei, I contacted Mr Osman Loan Firm for a business loan amount of $250,000, Then i was told about the step of approving my requested loan amount, after taking the risk again because i was so much desperate of setting up a business to my greatest surprise, the loan amount was credited to my bank account within 24 banking hours without any stress of getting my loan. I was surprise because i was first fall a victim of scam! If you are interested of securing any loan amount & you are located in any country, I'll advise you can contact Mr Osman Loan Firm via email osmanloanserves@gmail.com
LOAN APPLICATION INFORMATION FORM
First name......
Middle name.....
2) Gender:.........
3) Loan Amount Needed:.........
4) Loan Duration:.........
5) Country:.........
6) Home Address:.........
7) Mobile Number:.........
8) Email address..........
9) Monthly Income:.....................
10) Occupation:...........................
11)Which site did you here about us.....................
Thanks and Best Regards.
Derek Email osmanloanserves@gmail.com