Building a Lüderitz carpentry business
Junior Achievement Namibia Country Director, Johanna Cloete said “Phineas saw the need of people in Area 7 for pine wooden beds, chairs and pressed wood cabinets. Spotting the market need was his forte. When he received his loan and continued with his joinery business, it became successful but he was constrained by acquiring raw materials. He approached JA Namibia and applied for a second loan. The N$20,000 loan was granted with the assistance from the Namibia Youth Credit Scheme and his business is flourishing.”
Because of the demand for his products, he had to get a bigger place to manufacture in. Nuuyoma applied to the Ministry of Trade and Industry’s Equipment Fund for more equipment to enable him to satisfy the demand.
He repaid his first loan in full and is now servicing his second loan from Junior Achievement Namibia. He has inspired other unemployed people to follow his initiative and start saving to achieve their goals. He also says that the N$2,000 was not enough to start his business so he had to save money and reinvest continuously to be able to be successful.
Cloete said “Great entrepreneurs find new business ideas by paying attention to opportunities in everyday life” quoting Andy Boynton where he says “The world around you is filled with ideas that can be useful.”