8 February, 2013
Zimbabwean entrepreneurs have been urged to change their mindsets and start building solid businesses instead of spending excessively before turning profits.
Guest speaker Marah Hativagone said this at the BusinessLink Networking breakfast meeting in Harare this morning.
Noting that many SMEs shine for a while then fade off within ten years, Marah said local entrepreneurs can learn from Chinese business people who thrive without being extravagant in their lifestyles. As a result Chinese and other Asians are the ones who are dominating small business in crisis hit countries like Spain and Italy. These countries had people spending more than they earned and then borrowing excessively. The result is the global financial crisis.
To build a solid business one needs work hard, patiently putting the fundamental structures into place. Without that your business is doomed in this challenging and highly competitive environment. Marah should know, her business is still operating and growing twenty years on.
Read the full details of the fundamental structures of business in the BusinessLink newsletter as well as online on Wednesday 13th February. To subscribe to the newsletter simply go to our website http://smebusinesslink.com .