TRAINING BOOSTS INFORMAL SECTOR
Forty-one (41) informal traders from Ngaka Modiri Molema District recently attended a one-day training on costing and pricing as part of the North West Entrepreneurship Week which was held recently in Mahikeng.
The training was aimed at capacitating informal traders with knowledge and skills in financial management, and therefore be familiar with the most important financial concepts and terminology; as well as their use and application in practice.
The initiative is in line with the departmental mandate to support the small business sector as one of trajectories of economic growth, and further represents a comprehensive package of skills that every businessperson needs.
Deputy Director for Enterprise Development from Department of Economy and Enterprise Development, Kalodi Mogotsi explained the training as part of department’s initiatives intended ensure economic transformation by establishing and maintaining effective small business support to informal traders. This will be realised by facilitating partnerships with institutions supporting small enterprises and capacitating them through training.
“Many business people lose money because they are not conversant with the most important business concepts, such as pricing and costing their products, balancing of finances, stock count and recording, amongst others. It is on this basis that as the department we have facilitated partnerships with the private institutions that support small enterprise development and capacitate them with training,” said Mogotsi.
Bonolo Tsheko; a street vendor selling fruits and vegetables in Mahikeng Town welcomed the support from government. He said the training served as an eye opener for his business as he will now be able to carry on confidently with his daily stock counting, recording, and balancing of finances.
Meanwhile Kefilwe Mokgosi , an informal trader who is selling and manufacturing traditional attires, said government has out did its support to informal sector, but however she feels that a lot can still be done to assist informal traders in the province.
According to Kefilwe, they too want to formalise their businesses and have proper structures to operate from, this will enable them to be competitive with other big businesses as they have the capacity to grow.
At the end of the training, informal traders were afforded certificates as confirmation of attendance.
Issued by Keorapetse Mosipidi