Senpa hosts business forum for women entrepreneurs |08 March 2014

A half-day business forum for women entrepreneurs was organised yesterday to commemorate the International Women’s Day.

The forum, organised by Senpa (Small Enterprises Promotion Agency) in collaboration with the Ministry of Social Affairs, Community Development and Sports, took place at the Care house.

Held under the theme ‘Inspiring change’, the Women Business Forum was aimed at empowering the women entrepreneurs on how to grow their business and prosper.

It was also to encourage them to stay in their business and to show them how to expand it.

The women entrepreneurs who were invited to attend the forum were those who have been in business for a long time, those in business with other partners and who are afraid to move forward to grow their business, and those with problems of managing their business.

While opening the forum, social affairs principal secretary Linda William-Melanie said that the International Women’s Day theme ‘Equality for women is progress for all’ reminds us that we all benefit and progress when women are given opportunities.

She thanked the delegates for the initiative of taking all business opportunities that had been put to them by the government.

“You are working hard for yourself, for your family and your contribution in the Seychelles economy is very remarkable. The government salutes your effort and your ambition to succeed in your small business even though you have to balance your support role in the family and your business life,” she said.

PS William-Melanie also told the invitees that this was why we should appreciate when women entrepreneurs produce a product because a lot of sacrifices had been endured and that they should be helped to surpass obstacles.

“We should stop looking at the women entrepreneurs’ business or their business plans as economically insignificant. We have to bear in mind all social aspects women entrepreneurs endure when they enter in business,” she reminded those present.

For her part, Senpa’s chief executive Penny Belmont told the delegates that ‘Inspiring change’ will mean changing the way they conduct and manage their business. They have to be prepared to move mountains if mountains stood in their way and also be prepared to make sacrifices and not to be disappointed.

“People will let you down, people will not be happy for your success, but be happy for yourselves. What others have done in business, I know you can do. You already have the skills to make it happen,” she told the delegates.

According to Ms Belmont, women are at the helm of the increasing number of businesses in Seychelles. Based on Senpa’s statistics, women are 50 percent more likely to start a new business than men.

 The impact that women-owned businesses can have in the country cannot be overstated. Even during the worst of recent recession women have relentlessly pursued the dream of entrepreneurship to start a new business despite incredible obstacles and the small, women-owned businesses are major contributors to the local economy.

“In his state-of-the-nation address, President James Michel has reinforced his commitment to continuing to help small businesses across Seychelles to grow and prosper. That is why he has cut taxes for small businesses and helped them get access to capital they need to expand and create jobs,” She said

The Women Business Forum delegates listened to and questioned four facilitators on their presentations yesterday. The first presenter was Olivier Bastienne from Ernest & Young who talked about business innovation and explained the five key points in business innovation. (1) To think big and be bold; that is to set high standard, desire to innovate, see possibilities and don’t be afraid to enter in new markets; (2) Build a public profile by advertising oneself and products and also learn to work with the media; (3) Work on the business rather in it because not enough time is spent working on the business; (4) Establish key advisory network so as to seek advice and get connected to the right suppliers or clients; (5) Evaluate financing for expansion and that is not to be afraid or scared to get funding for business growth.

Jean Marie Moutia, managing director of ACT & Associates, talked about the importance of bookkeeping & cash flow. That includes forecasting, budgeting, where cash comes from, avoiding pitfalls, ways of handling the business if cash runs out and methods to improve the cash flow.

Peter Roselie, a business consultant, talked about managing business risks. He said that risks will always be there in business because if one doesn’t take risks there is no use of doing business.

 One has to able to manage and mitigate risks. Risks have to be identified and dealt with differently as there are different levels and types of risks.

“There are internal risks and external risks. Internal risks can be managed once identified. It will take time but one has to persevere and not give up or else you will lose because innovation comes with risks,” he told them.

He also said that risks that the entrepreneurs cannot deal with they could for example seek  insurance cover like in the case of a fire or flooding which one has no control over.

Women entrepreneur Paquerette Lablache, who owns The Mangouya Studio and Mangouya Creations, told the delegates about her success story as a business woman.

She talked about her experience when she started doing sewing business in 1979  and how all along in the 1980s and 1990s things were not easy because raw materials were not available as nowadays, but with perseverance and determination she rose and faced the difficult  challenges by approaching Senpa for a loan to expand her business.

She told the delegates to never give up on what they believe in and always seek help and advice.

The Women Business Forum ended with questions, answers and certificate presentation.

To coincide with the forum Senpa also organised a small women’s fair on its compound (see our photo on front page), where different products such as clothes, jewellery, flower arrangement  etc.. made by women were being sold.

The fair will continue today from 9am to 2pm.