| For effective running of a small business, one | | | | of business the entrepreneur is in. Training calls for |
| needs to go through training. Training for small and | | | | funds and for that matter, governments should |
| medium enterprises is now being given top priority | | | | put in place strategies that will assist SMEs to |
| in many countries. This is because, it has been | | | | access training funds at cheap rates. The |
| noted with growing concern that many such | | | | repayment plan for this money should be flexible |
| enterprises do not survive long due to lack of | | | | enough for the SMEs. |
| proper management and administration skills. | | | | Training institutions should also strive to meet |
| This raises concern because, the same | | | | training needs for knowledge derived for |
| enterprises are known to be a leading booster of | | | | innovative processes. This will require managers to |
| the economy of many nations. Training equips | | | | plan their training needs instead of concentrating |
| entrepreneurs with skills to be able to adapt fast | | | | on too many operational issues. If all these |
| to changes and challenges that may face their | | | | strategies are put in place, the role of training |
| businesses. For the training programs to be | | | | institutions will be enhanced and the future of |
| effective, there is need for them to be framed in | | | | SMEs will be secured. Many of the unemployed |
| such a way that they meet specialized needs | | | | individuals the world over can have something to |
| instead of tackling general problems. | | | | turn to when their efforts of getting employment |
| There is need to meet technical knowledge or | | | | become frustrated. |
| skills at a personalized level, specific to the nature | | | | |