Uncertainty grips entrepreneurs

Ester Kamati WINDHOEK Uncertainty has always been the elephant in the room when it comes to the daily hustle of entrepreneurs. However, with coronavirus measures putting economic activity on pause, it has become even more evident. From the many groups affected, entrepreneurs, who were forced to shut their doors and subsequently their streams of income, have become frustrated, with expenses still piling up. Unfair Local nail technician Anna Mulilo rents part of a salon and makes monthly payments to the owner. Despite not having been able to see clients due to lockdown regulations, entrepreneurs such as Mulilo are still forced to cover costs such as rent. “If you do not pay, you lose your spot, which can be offered to somebody else, but it is also not fair because I have not been using the place.” Unexpected Another entrepreneur, Andreas Haitota, said the lockdown has massively impacted his trading and operations. “Nobody expected this coronavirus, especially not entrepreneurs.” He said it is especially tough because he doesn't have a fixed salary he can use to cushion his business from the effects of the operations standstill. “We just hope this thing ends soon so we get back to leading our normal lives,” he said. “It's a difficult time because we aren't allowed to go out there and do what we do daily for our survival and for our bread”. He however added that it is a good time for business owners to look at their past mistakes and strengthen their businesses after the lockdown. “I would advise people to read a whole lot of books,” he said, adding that there is room to strategise business operations and self-educate. Although the lockdown has had a mostly negative impact, it is necessary to bring the coronavirus under control, he said. Ministry help Aid efforts made by the finance ministry include the rollout of an economic stimulus package, which makes provision for formal and informal businesses in sectors which are directly or indirectly affected by the lockdown measures as well as internal and external demand and supply side shocks. Specifically, a non-agricultural small business loan scheme provides N$500 million, which will be loaned to small business through the Development Bank of Namibia, at a reduced rate. Loans will be extended to businesses experiencing or expected to experience cash-flow pressures as a result of the pandemic.

Uncertainty grips entrepreneurs

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Namibian Sun 2025-06-18

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Uncertainty grips entrepreneurs

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Namibian Sun 2025-06-18

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