More than 500 women traders from seven wards in Karachuonyo Constituency have undergone financial management and business skills training as part of an economic empowerment drive targeting small and medium enterprises.

The women who were drawn from various markets across the constituency were taken through record keeping, savings, stock management, and the need to separate business finances from household money.

Speaking at Ng’oche Village in Rachuonyo North Sub-County, UDA Chairman Ramadhan Abdul Odhiambo said poor management practices were among the factors contributing to the failure of many small businesses before they reached maturity.

He urged the traders to keep proper records of their business transactions, understand their customers and markets, and reinvest part of their profits back into their enterprises instead of using all profits to meet household expenses

“Let us not eat all the profit. Plough it back into the business to ensure that the business can grow,” Abdul said.

He also cautioned the traders against spending beyond what their businesses could sustain, urging them to avoid unnecessary purchases and to separate business finances from personal expenditure.

The women were also encouraged to form organised groups through which they could access more training and support.

Abdul linked the empowerment initiative to the government’s focus on supporting small and medium-size enterprises, saying stronger SMEs would contribute to economic growth and create opportunities for local residents.

“SMEs are the people who drive the economy. We need to ensure that they thrive by bringing people together and enlightening them on the areas that can help their businesses grow,” he said.

To the women traders, the training had exposed them to business practices they had previously overlooked.

Lucy Adhiambo, a trader from Kibiri Ward, said she previously concentrated on putting all her money into her business without setting aside savings and that the training had changed her approach to managing her business.

“We are grateful for the business training we have undergone from Hon. Abdul. He taught us how to manage our businesses and make them flourish. Before, I used to put all my money into the business, but now I have been told that I must save,” she said.

Beatrice Ojwang’, another trader from the constituency, said the training had helped them understand the importance of separating business finances from personal money.

“We have been directed on how we can operate our businesses in terms of stocking, savings, and record keeping. We have been told not to mix business and personal money,” Ojwang said.

Prior to the training, the women were using business profits to meet family needs, leaving them without enough money to replenish their stock.

“Doing this made us deplete money for adding stock, and in time, our small businesses collapsed,” she said.

Eunice Omuga said proper record keeping would enable traders to track their expenditure and determine the profits generated by their businesses.

“When you keep records, you will know how money is used and the profit accrued from the business,” she said.

By Sitna Omar