Young Entrepreneurs Advised to Develop Innovative Business Ideas

Kampala (UG) | The Black Examiner – Youth entrepreneurs have been challenged to form groups in order to attract timely, adequate and favourable funding for their businesses.

“It becomes easier for them to get funding especially from the government and private financial institutions to help them easily realise their dreams,” says Mr Frank Olok, the Senior Private Sector Engagement Specialist at the Education Development Centre (EDC).

Speaking to the youth from various districts in the central region at a business training session at the Jevine Hotel in Kampala, Mr Olok further tipped the youths to be innovative and always think of starting up ventures that will exploit virgin business opportunities available in a given area.

According to him, on top of innovations and owning unique business ideas, working as a group also comes with other benefits including sharing and developing skills amongst the members.

The training that was organised by EDC with the financial support from the USAID’s Integrated Child and Youth Development (ICYD) Programme in Uganda, focused on the value chains for biomass, biogas, apiary activities and solar energy.

Stanbic Business Incubator Limited (SBIL) – a subsidiary of Stanbic Uganda Holdings Limited, provided the trainers.

Mr Nelson Kasadha, the Programme Manager at SBIL, urged the youths to always choose leaders with good reputation and skills because the progress of groups depends upon leadership.

“You should also embrace teamwork, diversity, communication and mutual respect so as to work cohesively,” he said.

Mr Isaac Kisambira, the District Community Engagement Supervisor at EDC, urged the youth to be consistent in what they do bearing in mind that entrepreneurship is a journey that deserves focus with hope for better.

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