Businesses urged to use global crisis as opportunity

By NATION ReporterPosted Sunday, March 29 2009 at 17:40

As the global financial crisis ravages businesses worldwide, a group of Kenyan businesswomen are exploring ways of tapping into potential opportunities that could arise out of the crisis.

With majority of businesses in the world taking drastic measures like retrenchment, the local women entrepreneurs are forming business groups in their quest to identify these opportunities.

“It is a costly mistake to assume that you can pull it off on your own. You will gain a lot by asking for help or additional capital, but many opt not to,” said Eva Muraya, the chief executive officer of Color Creations Ltd.

Ms Muraya, who is also the Kenya Association of Women Business Owners (KAWBO) chair, noted that only businesses that respond to challenges like the global recession will survive to benefit from the emerging opportunities.
Audit

“In difficult times, business operators should audit their businesses to identify and correct any inherent weaknesses,” she told a regional leaders meeting in Nairobi.

Ms Jane Munene, the CEO of CineArts Africa and KAWBO member, called on the local entrepreneurs to be on the lookout for business opportunities in the export market.

“Although the local market is good, the external market can cushion you against any shocks locally,” says Ms Munene.

This is the reason KAWBO is organising an international Women’s Business Conference scheduled for the city from May 21-22 this year.

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