12 Sep 2016

Confidential business information should be safeguarded since it determines success of the company, says Mr Sabatha Mhatlhe.
The records manager at the Botswana National Archives and Records Services (BNARS) Kanye Records Centre said successful companies invested  on controlling information leakages as failure to do so could lead to the collapse of their enterprises.  Mr Mhatlhe said this at a workshop organised by Ministry of Youth, Sport and Culture in collaboration with BNARS, meant to equip Youth Development Fund (YDF) beneficiaries on the basics of records management and financial literacy in Tsabong.
In modern information age, Mr Mhatlhe said, it was crucial for business managers to handle their vital documents carefully.
However, Mr Mhatlhe said it was ideal for small medium entrepreneurs to share success stories but he said disclosure should reach an acceptable level. “Know what to reveal about your business during forums but do not unveil your secret recipe.”
The records manager said keeping records properly aid in auditing work and monitoring of business progress. In the case of YDF, Mhatlhe said the government as a funder was entitled to audit all the youth projects under her watch.
Furthermore, the archives manager noted that documenting serves as legal reference at the time of conflicts regarding assets of the company. He noted that documented transactions act as evidence of rights or ownership.
Thus, he implored the beneficiaries to pen down every piece of deal or purchase they made for future use.
Additionally, Mr Mhatlhe pointed out that most businesses in the country failed because their owners were driven by the desire to reap monetary gains within a short period of time.
“Before thinking of reaping money, important factors such as avoiding operational costs, providing quality services and building good relations with customers should be given first priority,” he said.
For his part, the programme officer for Kgalagadi District responsible for YDF, Mr Arabang Sefakwe reminded the beneficiaries that the funding scheme was a stepping stone to greater business openings. He said the youth have an obligation to develop a good track for themselves so as to attract future potential funders.
He further advised them to always be ready to seize other opportunities coming their way and unite so that they could learn from one another. ENDS