Empowering Oshana Entrepreneurs: Bookkeeping Training for SMEs

In a significant move to bolster local businesses, approximately 20 entrepreneurs from the Oshana region recently participated in a comprehensive bookkeeping training program. This initiative, organized by the Ongwediva Town Council through its Local Economic Development and Tourism Division, aims to equip small and medium-sized enterprises (SMEs) with essential financial management skills necessary for business growth and sustainability.

• Training Participants: 20 local entrepreneurs from Oshana.
• Organizing Body: Ongwediva Town Council.
• Focus: Essential bookkeeping skills for SMEs.
• Goal: Enhance business growth and sustainability.

Bookkeeping is a critical aspect of running a successful business. It involves recording financial transactions, managing accounts, and ensuring compliance with tax regulations. For SMEs, effective bookkeeping can lead to:

1. Better Financial Management: Understanding cash flow and expenses helps in making informed decisions.
2. Improved Profitability: Accurate records can identify areas for cost reduction and revenue enhancement.
3. Regulatory Compliance: Keeping proper records ensures adherence to tax laws and regulations.
4. Access to Funding: Well-maintained financial records can improve chances of securing loans or investments.

The training program was designed to address the specific needs of local entrepreneurs. It covered various topics, including:

• Basic Bookkeeping Principles: Understanding the fundamentals of financial record-keeping.
• Use of Accounting Software: Training on popular accounting tools to streamline bookkeeping processes.
• Financial Reporting: How to prepare and interpret financial statements.
• Tax Compliance: Guidance on tax obligations and filing requirements.

Participants expressed their gratitude for the opportunity to enhance their skills. Many noted that the training provided them with practical knowledge that they could immediately apply to their businesses. One participant stated, "This training has opened my eyes to the importance of keeping accurate records. I feel more confident in managing my business finances now."

The Ongwediva Town Council plans to continue supporting local entrepreneurs through various training programs and workshops. Future initiatives may include:

• Advanced Financial Management: For those who have mastered basic bookkeeping.
• Marketing Strategies: To help SMEs reach a broader audience.
• Networking Events: To connect entrepreneurs with potential investors and partners.

By investing in the financial literacy of local entrepreneurs, the Ongwediva Town Council aims to foster a thriving business environment in Oshana, ultimately contributing to the region’s economic development.

• Oshana SMEs Get Bookkeeping Training – The Villager Newspaper, The Villager Newspaper.