Village businesses in Mpumalanga have potential to grow economy
Rural areas have a lot of potential for business growth, especially if proper research is done.
Local businesses, especially those situated in rural areas, were encouraged to grow within their communities at the Business Empowerment Summit on September 30 in Justicia.
The summit, organised by L&L Investment, was part of empowering small business owners to do business in their own communities, instead of relocating to cities where they end up having to close down. According to Lungelo Khoza of L&L, it was realised that there is great potential for business growth in rural areas, especially if proper research is undertaken to establish the needs and how to provide them.
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“We realised that most people in rural areas, especially in the Bushbuckridge area, want to trade in the big cities where competition is tough and rent is much higher. Local entrepreneurs can be successful in the area where they live and even create employment,” he said.
Khoza also said there are people across various communities who need specific services and are forced to travel long distances to obtain them while local business people can take advantage of that.
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“The most important thing is that they must first check what is unavailable and if there is market for it. Then, a supplier needs to be found and decided on the price to sell the products for, and if the community can afford this. Prospective business owners will also have to ask the question if community members will be able to afford these instead of travelling to the nearest towns where prices may be cheaper. Business owners should be loyal to their communities and be available when needed,” he added.
Khoza also said local entrepreneurs can grow to the point where they can build shopping centres within their communities and attract investors to financially assist them. He added that local business owners who attended the summit were informed about where to obtain funding and taught about investing their funds, so they can grow, and were shown how to run a successful business.
