Economic Experts have advised entrepreneurs in small and medium-sized enterprises to always be ready for crises if they are to effectively cope with the new normal induced by Covid-19 pandemic outbreak.
They urged that business owners should stay focused, more resilient as well as strategize to see that their businesses keep on moving in the post-Covid-19 era.
Delivering his keynote address during the 4th Strategic Leaders Summit at Sheraton Hotel Kampala on Wednesday, Charles Ocici, the Executive Director of Enterprise Uganda said that crises are part and parcel of life and any business worth its name must expect them.
“Covid-19 is global but crises do happen at country, village and even at a personal level. In otherwords, don’t be deceived that once Covid-19 is over, crises are over, they are there and they will be there, some will be personal others generic to your sector, just be ready for them. You cannot escape a crisis because God put it plainly in James1:2 and 14, He said count it a pure joy with trials and temptations come your way,” Mr Ocici said.
He noted that during a crisis, a good entrepreneur must be able to discover his/her completeness within him/herself. He, however, cautioned that amidst crisis, issues will come out and one must be ready to attack them.
“However, the good news is that no matter the effect, every crisis must come to an end and anyone to cover this crisis, they need to have an energized post-crisis mindset by being independent and believing in themselves. Business people should take 100 per cent responsibility for their circumstances and future. Limit the lamentation and get back on track because challenges are part of the game.”
In line with Ocici’s argument, Angella Bageine, a Management Consultant added that business owners and Startups must learn how to do them in different ways from the usual one.
“The mindset has to change from both sides, the employer, the employee because even the markets have changed the mindset, they are now spending wisely. So how you make them need your service depends on the technical thinking of the entrepreneur,” Ms Bageine asserted.
The fourth Strategic Leaders Summit 2022 ran under the theme; Africa’start-ups and Small and medium-sized enterprises (SMEs) in the African Continental Free Trade Area (AfCFTA) era; Rethink, Retool, Innovate, Digitalize and Transform”.
And according to the country manager Human Capital Investment (HCI), Shenina Aheebwa, this year’s theme was aimed at reenergizing SMEs and Startups.
“Despite the presence of AfCFTA, many SMEs have not embraced it yet there are a variety of markets. That’s why our theme this year is focused on AfCTA so that our SMEs put up goods and services worthy continental marketing.”
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