Workshop for young entrepreneurs

28 July 2020 | Business

The One Economy Foundation recently hosted the first part of its Covid-19 Survival Kit workshop for young entrepreneurs to discuss challenges they currently face.
In a media statement, the foundation’s chief executive Sem Uutoni said that the workshop held in Windhoek was also to brainstorm practical and actionable ways to mitigate the negative impact of the pandemic on businesses.
“A critical outcome was to build the resilience of entrepreneurs, which is a prerequisite in building strong businesses. Therefore, the wellness of entrepreneurs beyond the balance sheet is a priority to ensure the longevity of a business and avoid burn-out,” he said.
The workshop also addressed issues that contribute to mental strain, specifically debt and limited understanding of financial management to which the operations manager of Bel-Esprit Clinic, Verona du Preez reiterated that mental health issues have no boundaries. “They do not discriminate - they affect people of all ages, races, social and economic backgrounds, and standards. Do not isolate yourself; remain connected to entrepreneurs who can relate,” she said.
Crises can have unprecedented effects on small and medium enterprises due to limited resources. This may force entrepreneurs to seek additional financial resources to keep their businesses afloat. A key result is that entrepreneurs have to pivot both their business and value proposition to respond to the new reality, the statement reads.
The second part of the Covid-19 survival toolkit workshop is scheduled to take place on 8 August 2020 and will focus on the changing business landscape and how youth entrepreneurs can innovate to remain competitive. – Nampa

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