Economist offers tips on self-employment techniques

Economist Milward Tobias has offered tips on self-employment to people who are planning on starting a business, salaried employees and youths in secondary and tertiary education institutions.

He describes his book titled A Guide to Self-Employment: A Malawian Perspective as a family offering with content that can be applied now, but can also be used to groom children to become successful entrepreneurs with sound moral and spiritual values.

In a written response, Tobias, who is also director for Centre for Research and Consultancy, said the book suits business-minded people who do not have all the time to read, but want to get the message quickly.

“Entrepreneurship requires an enabling mindset, an aggressive mentality, a winning attitude and a risk-taking orientation,” he said.

Tobias said the Malawian society is generally risk-averse, observing that a risk-averse society prioritises low-risk investments and often experiences stunted economic development.

Commenting on the book, economist Thomas Chataghalala Munthali, who is also National Planning Commission director general, said the best time to read the book was 20 years ago when Malawi launched Vision 2020 and the next best time is now.

Vision 2020 is the predecessor of Malawi 2063, the country’s long-term economic blue print launched in January by President Lazarus Chakwera in Lilongwe.

He said the book is a revelation of the formula to survive and succeed in self-employment and is an invitation to salaried employees to plan their life when they retire.

A customer who bought and read the book Max Wengawenga, who is also an economist, described the book as a toolbox for those who have been searching for economic independence, but have somehow not really been able to find it.

He said: “The most striking aspect in this book is that it provides practical examples that most Malawians can quickly relate to,” he said.

The book blends economics, business management, accounting, public health and moral and spiritual values, all brought down to real life situations in running business, especially small and medium enterprises.