Climate change affecting small businesses
Balaka district community development officer Carver Nyalugwe says small and medium enterprsies (SMEs) have to be equipped with business management skills to counter effects of climate change.
Speaking during a Women’s Legal Resource Centre (Wolrec) Transformative Women Economic Empowerment Training sponsored by IM-Swedish Development Partners in the district last week, he said climate change is particuarly increasing the vulnerability of agro-based enterprises in the country.
“The Malawi economy is largely agro-based; hence, many rural people especially women, engage in the buying and selling of farm produce which have largely been affected by climate change,” said Nyalugwe.
He said because of the erratic rains, which could be attributed to climate change, have led many SMEs not to prosper.
Wolrec project officer Mark Kambewa said many women-run SMEs fail to prosper because they are ill-equipped with business skills to sustain their enterprises.
“We are encouraging women SMEs clusters to initiate business ventures that are sustainable, profitable, reliable and economically viable,” he said.
Kambewa said market research, marketing strategy and basic book-keeping are some of the critical areas every entrepreneur should possess if the business is to positively contribute towards financial improvement.
