The final edition of a series of 6 trainings organized in Yaounde and Douala has ended successfully ended in Douala Friday. The training workshop that took place at the Serena Hotel in Douala was organized by the Small Business and Entrepreneurship Center at the Denis and Lenora Foretia Foundation.
These trainings had as objective to empower young entrepreneurs and businesses owners in Cameroon on three axes; Businesses Management, Tax Systems and Access to finance and successfully empowered over 300 youths from the towns of Yaounde and Douala
Module under Business Management was facilitated by Mr. Ekuh Edmond, CEO of “The Gateway” , and a certified Entrepreneurship and Small Business management trainer with the Cameroon Center for the Management of Micro finances and Entrepreneurship Development (CCEMMED) participants were taught on Business engineering for SMEs, Business optimisation, building a business model , and Financial management. It ended with practical exercises on drafting income statements and expenditure statements.
Module two A Practical approach to the small business tax systems in Cameroon, facilitated by Ndikombui Nigel Mingoh founder and CEO of Goodwill Consulting Ltd (GWC) examined with the participants Business Registration requirements and procedures, the different tax systems in Cameroon, the process of taxe declaration, and when and how to pay taxes and duties. While module 3 targeted Access to Finance by SMEs in Cameroon, Mr Tatoh Kenneth Ndi a finance expert with more than 15 years of experience working with SMEs, and Zonal Coordinator at the Bamenda Police Credit Union, began by identifying the barriers faced by SMEs in raising finances such as; lack of collateral, refusal by financial institutions to Finance startups, corruption by officials, difficulty in accessing long term credit, Mismanagement, poor credit history etc..
The project that was carried out in partnership with the Canadian Fund for Local Initiatives empowered over 500 young people and mostly women across different sectors including the formal and informal sectors; business, civil society, academia and the civil service.
Source: Bantu Voices
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