TAGDev 2.0 Program, Egerton University, in partnership with the KCB Foundation, is conducting a comprehensive business development capacity-building program for 167 youth-led Micro, Small, and Medium Enterprises (MSMEs) under the Build Your Business Smarter initiative. The training, taking place from 17th-18th February 2025 in Egerton-Njoro and its environs, aims to equip young entrepreneurs with essential business skills, fostering job creation and economic growth. This initiative targets youth beneficiaries aged 18-34 years, who are categorized as Micro and Small Enterprises (MSMEs).
The training curriculum is based on a thorough Training Needs Assessment (TNA) conducted between January and early February 2025. The assessment identified critical areas that require intervention to enhance business sustainability and competitiveness. Consequently, the training covers key business development aspects, including financial literacy, record-keeping, strategic business planning, workforce development, and workforce inclusion.
Financial literacy and record-keeping are essential components of business success. Understanding sources of credit, financial statements, and budgeting enables entrepreneurs to make informed financial decisions. Effective cash flow management ensures that businesses remain operational and financially stable. Additionally, compliance with tax and regulatory requirements is crucial for business legitimacy and sustainability. By acquiring these financial management skills, entrepreneurs can minimize financial risks, optimize resource allocation, and enhance business growth.
Strategic business planning plays a major role in establishing and expanding businesses. Developing a formal business plan will help the entrepreneurs define their objectives, allocate resources efficiently, and track progress. Setting and reviewing business goals allows for adaptability and resilience in dynamic market environments. Entrepreneurs learn to anticipate and respond to market changes, ensuring that their businesses remain competitive. Through group exercises and business plan templates, the young entrepreneurs are gaining hands-on experience in strategic decision-making and business model development.
Workforce development and inclusion are key to ensuring a productive and diverse business environment. Training entrepreneurs enhances their skills, improves productivity, and boosts business performance. Workforce inclusion, particularly of differently abled people, ensures equal opportunities for all and contributes to a more inclusive economy. By understanding the importance of workforce training and diversity, the entrepreneurs will create a positive work culture and attract a broader talent pool, leading to innovation and growth.
The impact of this training extends beyond individual businesses. By equipping the entrepreneurs with essential business skills, the training contributes to economic empowerment and job creation. Entrepreneurs can establish sustainable enterprises, generate employment opportunities, and drive economic development in their communities. The inclusive approach of the training, such as providing baby daycare services, ensures that all entrepreneurs, including young parents, can fully participate and benefit from the program. The knowledge and skills gained through this training will enhance business sustainability, promote financial independence, and support long-term economic growth.
Written By:
Ian Kamau.
Communication Intern, TAGDev 2.0 Program, Egerton University.