SMALL and Medium Enterprises (SMEs) in the country should pay particular attention to what is happening in the economy and should develop interest in consulting with experts before undertaking any business venture, Economist Emanuel Zulu has Said.
Mr. Zulu told The Scoop that the business community was the driving vehicle for economic growth as it is at the centre of wealth creation through job creation.
He urged the business community not to have a business-as-usual approach but to ensure and plan on how to attain positive gains in all their projects.
“It’s a very challenging time for the local business especially for those that are into importation of goods looking at how the Kwacha has been performing against other convertible currencies. We should emphasize so much on local production. It is important to pay attention to what is happening to the economy and get advice from people that are experts depending on what sector the SME is in to improve planning, which is very critical.
“The investment climate in Zambia has tilted towards community projects as we see a lot of money going towards CDF. Therefore, the entrepreneurs should be able to read their market targets to understand where the demand would be. As we see the Government is going into construction of schools or health posts, bridges among others, it is important for entrepreneurs to align themselves towards that with the view to be part and parcel of such developments as a business community to check what could be supplied,” Mr.Zulu said.
He insisted that once the business community was quick and flexible to note on what they could supply within the areas they operated from, growth and sustainability of Various businesses would be attained thereby growing the economy.
He urged the Government to continue empowering citizens to run the investment agenda in a bid to grow the economy.
He further pointed to agriculture and manufacturing as being among sectors that could be well explored for opportunities as the New Dawn Government had also shown commitment to expand these sectors.
He explained that the interdependence of the agriculture and industry helped the development of both sectors and that they should take advantage of them and explore existing opportunities.
He said that the most important aspect of this inter-dependence was that the products of one served as important inputs for the other, adding that entrepreneurs in both sectors could collaborate and grow together.
He added that collaboration among entrepreneurs was also critical and needed to be promoted at all levels.