By Deogratias Mmana:
Business experts have challenged young entrepreneurs to plan, invest and take risks if they want to run successful businesses.
The experts said this recently during a panel discussion organised by mHub in Lilongwe.
The discussion focused on equity and debt financing as ways of financing businesses.
One of the panellists, Ray Misomali, a partner at Kweza Equity, said, for equity financing, one needs to get a partner who is more experienced than them so that they benefit from the partner’s experience.
“The problem with most Malawians is that they prefer doing business alone because of pride and other factors. Under equity financing, the entrepreneur dilutes shares
but does not owe anyone any money,” Misomali said.
Another panellist, Temwani Gunda, who is the founder of JAT Investments, which runs a mushroom business in Lilongwe, challenged the youth to do thorough planning if they go for debt financing model.
Other panellists were NBS Bank Service Centre Manager Chiyamiko Littah and Martin Kiilu.
Chief Executive Officer for mHub Blessings Chavula said the aim of Growth Accelerator programme is to provide a competitively selected cohort of ambitious and innovative entrepreneurs to access technical assistance and co-financing and mentorship to enable growth and scaling of their businesses.