YOUTHS have been urged to identify business opportunities and conduct business visibility studies in order to have sustainable businesses instead of adopting a ‘copy and paste’ approach.
The General Secretary of the Evangelical Lutheran Church of Tanzania (ELCT), Northern Dioceses, Mr Arthur Shoo said here that many Tanzanian youths are good in copying the ideas of their fellow business people without a visibility study to determine market issues.
He was speaking to youths of different religious denominations from Siha, Moshi and Hai districts and Moshi municipality in Kilimanjaro Region who attended a two-day workshop on entrepreneurship and business organised by Norwegian Church Aid (NCA) Tanzania.
Mr Shoo said that people get success from trade because they follow business principles and that many businesses collapse because people start and run them without learning first how to go about it. He said it was pertinent to know how to handle financial issues.
He added that there are many who are struggling to grow crops like tomatoes, cucumber and others without knowing how much it would cost, market situation and how to preserve them as perishables, and as a result they incur loses.
“Before planting any crop, it is good to know market matters, instead of waiting to address the subject after harvesting. It is good to cultivate something different from your colleagues in order to be guaranteed of market. Do not plant a type of crop just because you saw your partner benefiting from the same crop. Cooperate with your colleagues, and if possible agree on cultivating different crops,” he said.
Mr Shoo noted that handling of business is very important especially in stock control; otherwise one would lose even the capital. He said one has to make sure that agriculture pays before borrowing money to pump it into farming and incur losses in the end.
One of the participants, Mr Ronald Chibanda said the workshop helped him to understand how to spend money and increase capital even if it is a loan.
“Previously I was afraid of borrowing money for business, but now I have gained knowledge and skills about the best way of spending together with savings and personal use from my business. I do not have fear anymore; I will put all I learnt into practice to overcome the challenges,” he said.
Ms Neema Mosha, another participant, said she was happy to learn about the importance of keeping records, as that would help her know whether the business is growing or not.