Young innovators trained in financial solutions
The National Commission on Research, Science and Technology (NCRST) in collaboration with Business Financial Solutions held a training workshop for the commission’s 1st call of Youth Innovators this week.
The training conducted by Business Financial Solutions associate and University of Stellenbosch Business School MBA candidate, Gerschwyne Van Wyk centered on administrative and support services for the entrepreneurs.
Speaking to the Economist, Business Financial Solutions accountant, Raili Moses said that the training for the youth innovators was tailor-made to ensure that the participants know the core purpose and functions of their businesses.
Highlighting the importance of bookkeeping, the Namibian policy environment and tax requirements as well as day-to-day management for a successful entrepreneurial endeavor, he said “Our team is well networked and has strong strategic and networking skills that will enhance access to investment opportunities.” Moses added that the Business Financial Solutions team has significant experience in business management, enterprise development and operations management, particularly with growing companies.
“Our key professionals have managed and turned around ailing enterprises. We understand the challenges of young companies and the need to develop competencies that will enable enterprises to compete.”
The Business and Financial Solutions team noted its ample Namibian and Southern African experience in dealing with enterprise finance, strategy development, business planning, and assisting enterprises to set up their important functional abilities. The participants shared with the moderator difficulties that they might anticipate in putting their ideas into action and how to reduce the risk of their projects failing.
One of the recipients of the innovation grants, Aska Orlale co-founder of M&O Decor Enterprises that specialises in Home Decor and Party Supplies from recycled material, said that the training was helpful in fine tuning their marketing approach.
Comprising senior and junior professionals, the Business Financial Solutions team is lead by Managing Director and Developmental Economist, Kauna Ndilula. The team of professional consultants also caters to other organisations like Bank Windhoek and Dundee Precious Metals Tsumeb, both of which are instrumental in providing SME development and support. “As a client to the National Commission on Research, Science and Technology, we will be having one on one contact sessions with the youth innovators after the training, focusing on back office administration, as often we see with startup entrepreneurial projects that some things fall through the cracks when it starts and ends with the funding” Moses said.