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SME Owners Feel Currency Fluctuation Pinch in Liberia

SME Owners Feel Currency Fluctuation Pinch in Liberia

http://youtu.be/YEE2P3Mn0wk

For more reasons than one, small business owners in Liberia are feeling the entrepreneurial burn. According to Bloomberg TV Africa, the state-run power company only supplies electricity to 19,000 customers — most others are left to fend with generators.

“It’s not an easy thing to run a business on a generator,” Kona Lovely Mc Borrouah, manager at the Ngomah Technology Cybercafe said. “It’s very challenging, especially at this time of the year. The rates have increased. Fuel prices have gone up, so things are very very expensive.”

Fluctuation of the Liberian dollar is affecting other entrepreneurs. However, Bloomberg TV Africa reported, the growth of new types of enterprises — like those within IT — are expected to leapfrog the country’s business hurdles.