Business experts have urged young entrepreneurs to take advantage of government funds and mentorship to speed up business growth.
Speaking during the under 35 multi-millionaire economic conference’ Thursday, Professional Marketing Services Group chief executive Joanne Mwangi said business startups have been slow to utilise the 30 per cent fund reserved for youth and women.
“Government statistics show that less than Sh100 billion of the total annual allocation is in use while the rest is wasting,” said Ms Mwangi. “As young millionaires, I know you face financial challenges in business, and these government funds will help you stabilise.”
Mr Manu Chandaria chairman and chief executive Comcraft Group said startups need to lay a stable base through wise financial sourcing.
The Under 35 Millionaires conference attracted over 70 startups from various business sectors countrywide, all geared towards gaining the right knowledge to establish firm business foundations.