Strengthening Business in Ndola

Twenty tradespeople from ten existing local businesses are receiving Business Development support to grow their Bricklaying, Carpentry, Welding or Tailoring enterprises. 

Kabushi Entrepreneurship and Vocational Training Centre (KEVTC) is a well-established training centre in the Copperbelt region of Zambia. They have a reputation for excellent training, and through our partnerships, we are delighted to have supported many young people into trades.

Our Business Development courses are different from our 12-month vocational training projects; they aim to provide established professionals with the physical tools they need to better success and equip them with enhanced knowledge to set their businesses out from the rest.

In many of the countries we work, the competition from local enterprises is fierce. Business rates failures can hit as high as 75% in the first 3 months without support, but entrepreneurial spirit is in abundance, and our participants are keen to propel their businesses forward in order to survive.

 

Stepping up strategies for success

Through this project, KEVTC will encourage participants to become more efficient and profitable; confident in delivering marketing strategies, financial planning, and customer relationship management.  The training programme focuses on enhancing the entrepreneurial capabilities of individuals who may already have established businesses or are aiming to set-up a new business based on the earlier acquired vocational skill, equipping them with valuable tools and knowledge to advance their ventures.

Key skills the participants acquire include strategic planning, which involves analysing current business operations, identifying areas for improvement, and developing effective strategies to achieve goals. They also learn market analysis, competitor assessment, and customer segmentation, enabling them to make informed decisions and adapt their business strategies accordingly.

Basic financial management is emphasised, teaching students how to effectively manage their business through budgeting, cash flow management, and financial forecasting. They gain knowledge about financial statements, profit and loss analysis, and key performance indicators, enabling them to optimise their business performance.

 

Lenard Bunda: Forging a Path to Entrepreneurial Success

Leonard is honing his business skills to build a successful metal fabrication business

Lenard Bunda is an aspiring entrepreneur and determined student, who embarked on an entrepreneurship journey with KEVTC in January 2023. With a keen interest in metal fabrication, Lenard’s goal was to acquire the necessary business skills to establish and register his own enterprise.

In first 6 months of the project, Leonard has developed a strong foundation of knowledge in various aspects of entrepreneurship. He has gained a deep understanding of business management, market research, marketing strategies, financial planning, and customer relationship management enabling him to identify target audiences, analyse industry trends, and assess the viability of his metal fabrication business.  Lenard is honing his skills in basic financial management, learning to create budgets, track expenses, and forecast revenue to ensure the financial sustainability of his future venture.

Over the next 6 months, Leonard plans to participate in entrepreneurship-focused discussions and engage with industry professionals.  Lenard believes that by connecting with like-minded individuals and mentors, he will gain valuable insights, receive guidance, and establish a support system that will fuel his entrepreneurial journey.

Lenard told us: “I want to have my own workshop since am not just working for for someone. So I am saving some money in order for me to establish my own workshop.”

With the support from TFSR start-up toolkit, Lenard envisions himself taking bold steps towards establishing and registering his own business.

 

The customer is always right

Over the final six months, participants will learn about market research, customer behavior, and branding strategies and employing sales techniques, negotiation skills, and customer relationship management strategies. Communication and networking skills for building relationships with stakeholders, suppliers, and potential business partners. Problem-solving and decision-making skills will equally be cultivated to enable students to analyse challenges, identify solutions, and make informed decisions that align with their business goals.

Critical thinking skills will equally be fostered to evaluate risks which will enable them to anticipate market changes and adapt business strategies accordingly. Effective project management techniques are also taught for successful planning and execution of business initiatives.

A key component for success if securing financial backing for their business. During the training, participants will learn about funding options and how to develop compelling business proposals to secure financial support. Marketing and sales skills and products are highlighted to help these entrepreneurs to effectively promote their products or services and attract customers.

By the end of December 2024, we envisage business graduates, equipped with a comprehensive set of skills necessary for driving growth, enhancing profitability, and navigating challenges in their entrepreneurial journeys.

 

Projects such as these would not be possible without you.  We want to say a big THANK YOU for all of your kind donations, and for your preloved tools which support our projects. If you would like to support our life-changing projects, please click here to give a one-off gift or set up a regular donation.  Thank you.

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June 2024

 

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