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SMEs in disarray due to inept financial management
24
Jun '08
Most of small and medium scale enterprises in Swaziland, especially the textile firms, are in disarray due to poor financial management and lack of business planning.

Business operations have been impacted as a result of the turmoil at the managerial level. A survey report reveals that over a period of five years, there has been a staggering decline of as much as 80 percent of units in operation.

However, experts are still optimistic that with adequate support and practical policies, small businesses can bounce back into action to fetch substantial revenue and economic fortunes for the country.

Presently, the situation has deteriorated to such an extent that growing a sustainable business is like a real challenge. The government, nonetheless has assured of full support and is taking all the initiatives necessary for the growth of the economy and the country as a whole.

Entrepreneurs on their part need to ensure a voluntary participation in every activity of their respective businesses right from the initial stages.


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