Teaching practical business skills can be less effective than showing students how to set goals and identify markets
Ugandan teacher decided to start her own school. Barbara Ofwono Buyondo had $350 of savings. Bankers would not give a loan without collateral, especially to a young woman. With no money for tables, children wrote on their chairs, kneeling. Today her company, Victorious Education Services, is one of the leading schools in Uganda. Over 4,000 fee-paying pupils attend its five campuses, swept up by a fleet of branded buses and welcomed by primly uniformed teachers.
An alternative approach is to foster good business practices. Enterprise programmes range from small non-profit initiatives to the $100m foundation established by Tony Elumelu, a Nigerian tycoon. At a recent training session run by Enterprise Uganda, a government-backed initiative, some 70 businesspeople discussed how to manage employees. The trainer warns against hiring indolent relatives. “You can’t have a minister without portfolio in your business,” he says .
Entrepreneurs often need specific information, for example, where to sell their products or source supplies. A randomised trial by researchers from the University of Notre Dame in America linked young businesswomen in a Kenyan slum with local mentors dealing in similar trades. Their profits were 20% higher over the following year, relative to a control group, mainly because they had switched to cheaper suppliers.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meghan Markle Meets With Women’s Rights Activists During South Africa TripBefore she jetted off to Johannesburg, Meghan Markle attended an important meeting with a group of influential women to discuss women’s rights in South Africa.
Read more »
See New Photos of Archie During South Africa TripSee New Photos Of Archie During South Africa Trip
Read more »
Meghan redefined what it means to be a royal during the Africa tourMeghan, Duchess of Sussex, has redefined what it means to be a royal during her Africa tour with Prince Harry | Analysis by maxfostercnn
Read more »
Meghan Markle Makes Secret Pilgrimage to Honor Murdered Student During South Africa TourMeghan Markle secretly visited the memorial of Uyinene Mrwetyana, a 19-year-old student at the University of Cape Town who was raped and murdered in August.
Read more »
Meghan Markle Rewears Canadian Label NONIE's Trench Dress in South AfricaUpdate (02/10/19): Meghan Markle wrapped up her and Prince Harry's 10-day tour of South Africa in yet another recycled piece today. And this one, we instan
Read more »
Duchess Meghan, Prince Harry ask for unity, action as Africa tour ends
Read more »