Peer advices others to repay loans
15 Feb 2018
Ms Gofaone Boitshwarelo of Miracle Stiches, which was funded through the Youth Development Fund (YDF), has advised the youth to adhere to their loan repayment schedule.
Ms Boitshwarelo, who makes embroidery, said some youth were not repaying their loans due to reluctance and negligence Ms Boitswarelo said this in an interview where she also noted that through consistent repayment of the loan, one could stand a chance to be considered for further funding.
“Youth should have the aspiration to grow your company instead of being materialistic,” she said.
She added that the youth should also take into cognisance that through repayments of their loan, they were paving the way for others to be assisted, and that they also stood a chance to be re-financed.
“The Ministry of Youth Empowerment, Sport and Culture Development (MYSC) has a policy guideline which accords a chance to those who have shown commitment and are consistent in their loan repayment to be eligible for re-financing up to P100 000 in cases where they wish to grow their businesses,” she said.
She said unlike most who were more interested in enriching themselves, she was dedicated to completing her loan repayment this year with the aim to seek more funding.
“I have realised that among the group that was funded in 2012, I am the only person paying my loan. Sometimes I feel sad in a way, but I understand that I have to honour the agreement, earn trust from the youth office as I have more plans for my company.
That for me is the bigger picture, it is not bad as we are only expected to pay half of the loan,” she said. She said she has developed a rapport with the youth office through regular consultation and the submission of a financial report every semester.
Having been funded in 2012 at the tender age of 18, which is the entry age for those seeking funding, Ms Boitswarelo said she had a vision which was more than a dream.
“I grew up in the company of business minded people, so while growing up, I had always had a vision of being a successful and well established business woman. My goal is to achieve my dream,” she said. She said her business was funded at the tune of P100 000, and that she managed to buy her embroidery machine, a laptop, which she uses for designing and a printer as the machines are expensive.
“My business has grown as I now have more clients. I am faced with challenges as I only operate with one machine, which is a setback for me. I am also troubled that it may breakdown anytime since it is the only one that I use for production, but I am hopeful that I shall get a chance to expand through the utilisation of YDF,” she said.
She noted that her company started operating as a business and was later registered as a company in 2012 when it relocated to Serowe for easier accessibility, and because that was where most of her clients were from.
“We specialise in embroidery, and when I started we only provided embroidery services for companies, but later realised that we could not only focus on that. We bought t-shirts, ties, towels, shirts and overalls which we embroiled for companies and individuals,” she said.
She stated that her company was seasonal as they became busy at the beginning of the year.
“Presently we have a contract with Mannathoko, Ranokanyane and Samane junior secondary schools.
They provide their students with t-shirts we make. We buy stock and preserve profits for future use during the time when business is slow,” she said.
Ms Boitshwarelo said besides their usual clients, they also go door to door in an effort to market their business.
“We approach individuals and tailors and encourage new companies to design their own logos so we can provide such services for them,” she noted.
She pointed out that she loves her job as she enjoys seeing her work being appreciated.
“My job is challenging as there is a lot of creativity involved in it. Customer’s needs and tastes are different.
Sometimes I may think I have mastered a piece, only to my client’s dismay.
To my amazement, I enjoy it because it keeps me on my toes,” she said. She said currently she has hired two people in her company, which included, he her husband, who handles accounts, auditing and production.
“Work can be hectic here. Mostly when busy, we cannot manage to complete work only during the day through the use of our only machine that we have, so I am fortunate that my husband is here to assist as in most cases we are forced to work on night shifts,” she said. Ends
Source : BOPA
Author : Thuso Kgakatsi
Location : Serowe
Event : Interview
Date : 15 Feb 2018
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