24 Nov 2013

Batswana have been encouraged to start businesses at a younger age.

Speaking after a business meeting in Kanye recently, Mr Calvin Phokontsi urged Batswana to desist from pouring their retirement packages into start-up businesses, saying such projects were bound to fail. He said most people retired between ages 55 and 90, when they would already be on the decline.

“At that age, people should be taking it easy and enjoying the fruits of their hard work over the years instead of grappling with business challenges,” he said.

Mr Phokontsi said it was unfortunate that most people who retired wanted to invest their packages into start-up businesses when they kne little about business. He encouraged Batswana to start their businesses between the age of 21 and 55 years, while they are still in their prime.

“It’s important to start your businesses while you still have the energy to face off any challenges that are thrown your way,” said Mr Phokontsi. He also urged Batswana to set themselves financial freedom targets and timelines to determine when they will attain self-actualisation.

He encouraged Batswana to invest in real estate as it affords the investor expandability, predictability, appreciation and total control even during a recession.

“For instance, if you invest in shares you will be affected by depreciation. But both depreciation and appreciation are good for the real estate owner,” he said. Mr Phokontsi called for Batswana to be empowered with financial education as it would enable them to invest in businesses that had continuity. ENDS