{"id":16762,"date":"2022-11-21T18:52:14","date_gmt":"2022-11-21T18:52:14","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited"},"modified":"2022-11-21T20:11:59","modified_gmt":"2022-11-21T20:11:59","slug":"msmes-funding-available-applications-invited","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited","title":{"rendered":"MSMES FUNDING AVAILABLE, APPLICATIONS INVITED"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>The government has various financial schemes to assist Micro Small and Medium Enterprises (MSMEs), especially those owned by the youth in attaining capital funding for their businesses.<\/b><\/p>\n

They said these schemes have enough funds to finance capital projects for the youth, but they receive fewer applications not properly structured. The poorly structured applications are rejected as per the norm of the application process, thus contributing to the funds remaining stagnant. These financial institutions have attested to having rejected about 68 per cent of applications because they do not meet the criteria needed to be awarded the funds.<\/p>\n

Details<\/b><\/p>\n

One of the key issues highlighted collectively is the unclear details of the form of business requesting funding and management structure. The schemes said the business plans they received are almost similar in details per constituency, which prove lack of attention to details, thus affecting funder\u2019s confidence. This was mentioned during the sharpening of entrepreneurship skills among the youth workshop last week at the Ministry of Commerce, Industry and Trade. Small Enterprises Development Company (SEDCO), in partnership with the Ministry of Commerce\u2019s MSME Unit, facilitated a five-day entrepreneurship workshop sponsored by the United Nations Economic Commission for Africa (UNECA), for youth entrepreneurs.<\/p>\n

The workshop focused on equipping the participants with the necessary knowledge and skills required for organising and carrying out entrepreneurial activities and developing the ability of analysing and understanding business situations. SEDCO\u2019s Chief Executive Officer (CEO), Khethiwe Mhlanga and dignitaries from the Ministry of Commerce\u2019s MSME Unit were also present in the workshop. Giving remarks at the ceremony, SEDCO\u2019s CEO encouraged participants to apply the knowledge and skills they have acquired from the training so that their businesses can grow and be sustainable. The knowledge you have gained in this training is an investment to your businesses because the skills you have acquired will help you to correct some of the mistakes that you have made, which will make your businesses more sustainable,\u201d she said.<\/p>\n

Services<\/b><\/p>\n

Mhlanga also encouraged the participants to reach out to SEDCO at any point in their entrepreneurial journey because SEDCO offers an array of services and products for SMEs. \u201cWhen you start to feel like your business is in trouble and you need some business advice, please visit SEDCO. We have qualified business coaches and counsellors that will help guide you and point you in the right direction,\u201d she said. SEDCO also supports entrepreneurs with registering companies, attaining trading licences, developing viable business plans and applying for funding, business incubation, marketing and recently, developing website and company emails.<\/p>\n

MSME Acting Director at that time, Philisa Dlamini, said their financing model includes financial literacy training which aims to equip young entrepreneurs with financial management and recordkeeping skills. Dlamini mentioned that government had established various financial schemes to assist MSMEs, especially those owned by the youth to attain funding. She mentioned the Small Scale Enterprise Loan Guarantee Scheme (SSELGS), the Regional Development Fund (RDF), the E45 million MSME Revolving Fund housed at EswatiniBank, the Informal Traders Revolving Fund (ITRF) housed at FINCORP and the Youth Enterprise Revolving Fund (YERF).<\/p>\n

Dlamini further encouraged the participants to come together and collaborate because this places them in a better position of securing grants from financial schemes like the Regional Development Fund. She also encouraged them to advocate for government to improve the business environment and to implement existing policies. \u201cAs business people, you have the power to influence the business environment in the country, you just need to be proactive and approach us as government to make your requests,\u201d said Dlamini.<\/p>\n

Appreciated<\/b><\/p>\n

Speaking on behalf of the participants, Sibusiso Dlamini appreciated SEDCO for the informative training and requested that SEDCO conducts an aftercare programme. \u201cWe would like to request that SEDCO checks up on us after this workshop and assists us with securing funding and implementing what we have learned in this workshop,\u201d he said. He added that training modules included business awareness, survival budgeting, causes of business failure, Importance of record-keeping, financial statements, marketing, business planning, risk management costing and pricing and sources of finance.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. The government has various financial schemes to assist Micro Small and Medium Enterprises (MSMEs), especially those owned by the youth in attaining capital funding for their businesses. They said these schemes have enough funds to finance capital projects for the youth, but they receive fewer applications not properly structured. The poorly structured […]<\/p>\n","protected":false},"author":84,"featured_media":16761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234,248,249],"class_list":["post-16762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nMSMES FUNDING AVAILABLE, APPLICATIONS INVITED - Eswatini<\/title>\n<meta name=\"description\" content=\"The government has various financial schemes to assist Micro Small and Medium Enterprises (MSMEs), especially those o ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MSMES FUNDING AVAILABLE, APPLICATIONS INVITED\" \/>\n<meta property=\"og:description\" content=\"The government has various financial schemes to assist Micro Small and Medium Enterprises (MSMEs), especially those o ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-21T18:52:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-21T20:11:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2022\/11\/postQueueImg_1669048486.29.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"850\" \/>\n\t<meta property=\"og:image:height\" content=\"567\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"MSMES FUNDING AVAILABLE, APPLICATIONS INVITED\",\"datePublished\":\"2022-11-21T18:52:14+00:00\",\"dateModified\":\"2022-11-21T20:11:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited\"},\"wordCount\":697,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2022\/11\/postQueueImg_1669048486.29.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/msmes-funding-available-applications-invited\",\"name\":\"MSMES FUNDING AVAILABLE, APPLICATIONS INVITED - 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