2017-09-20Staff Report 2 Otniel Hembapu Windhoek-Local entrepreneurs, especially young businessmen and women, were the main focal point of a highly informative business seminar, hosted recently by the Kahengava Investment cc Group of Companies, through its Kahengava Foundation. The seminar, held at the St Joël Apostolic Healing Mission Church in Windhoek, was one of the many symposia held by the foundation annually and saw a good number of established and aspiring young businesspeople in attendance. Themed around the empowerment of upcoming businesspersons, particularly the youth, the seminar placed great emphasis on strengthening and stimulating cross-sectoral cooperation in the field of entrepreneurial learning of young people. The gathering, which was attended by more than 40 participants, also encouraged young people to reflect and explore various business tools as a catalyst for developing entrepreneurial competences among themselves, and to equally develop a habit of always formulating strategies for entrepreneurship. Amongst the many speakers on the day - with some representing organisations such as the National Youth Council (NYC), church groups and various youth organisations, as well as local business people - the attention of the attendees was captivated by renowned local business personality, lecturer, political and economic analyst, Dr Hoze Riruako, who was the main speaker on the day. Riruako, who is also the managing director and chairperson of DHR Group of Companies, which has interests in property development, farming, hospitality, car rentals, publishing, mining and business management, pricked the thoughts of the many young attendees as he urged them to undertake entrepreneurial and voluntary activities that respond to social needs that may in the future turn into a professional occupation, including self-employment. Touching on the concept of entrepreneurial culture, good practices and sharing life stories, Riruako centred his message on good business practices in the areas of formal and informal business education and methods, especially for those struggling to get their business ideas off the ground. “As young and old upcoming business people, you first have to figure why you want to start a business in the first place. Where do you want to take it and who are your targeted consumers? Once you have answered those simple questions, further ask yourself if you have the right attitude and discipline to make your business a success. “Don’t just start a business because your friends are also doing it; you should have a serious mission and vision when starting,” said Riruako, who urged the youth to refrain from the habit of complaining and to rather start taking opportunities around them. “In business, we have what we call economies of scale. It is a very important aspect in any business setup. In microeconomics, economies of scale are the cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale, as fixed costs are spread out over more units of output. “In simple terms, when starting or expanding your business, first make sure the population size in that area perfectly equates your output, because otherwise you will end up oversupplying people that are not really interested in your products. “Don’t just sit at home complaining that there are no opportunities in Namibia. It’s time to wake up and start knocking at the doors of various youth organisations, such as the NYC, the Ministry of Sport, Youth and National Services, and many others. They have schemes designed and packaged to empower the youth, so go out there make use of them,” Riruako advised. 2017-09-20Staff Report 2
