GULU – Equity Bank has trained hundreds of young entrepreneurs in Gulu on how to invest and take advantage of the digital economy.
The training was aimed at giving young entrepreneurs the knowledge and skills that can help them take advantage of the opportunities for business expansion and growth.
The training held in partnership with Gulu University and other institutions of higher learning took place on Saturday at Gulu University bringing together students and young entrepreneurs.
Equity Bank regional coordinator for Young African Project, Razak Aluda noted that there is a need for unleashing an entrepreneurial spirit among the youth in the region to capitalise on the digital economy.
He explored the youths to organise themselves into cooperatives and embrace a good saving culture taking advantage of the digitalization of the economy to expand their markets.
He also encouraged the youth entrepreneurs to be innovative in their businesses if they are to attract market for their products and services.
Job Wendo, a student of Information and Communication Technology at Gulu University noted that young entrepreneurs often do not pay attention to monitoring their businesses which contributes to their collapse.
Juliet Oyella who deals in organic cosmetics noted that youth-owned businesses sometimes collapse because they youth don’t do market research before starting the businesses.
Addressing the conference, the Gulu City mayor Alfred Okwonga who is also an investor noted that the practical skills in the business are key to sustainability and expansion of the life of the business.
“The business can’t survive without proper planning and needs assessment. As you can see, many of the businesses in the country have collapsed because of financial indiscipline and poor marketing,” he said.
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