The Nation Newspaper

Category: Small Business and Entreprenuership

  • Why I went into photography

    Why I went into photography

    At the heart of Ipaja, Lagos, is a young entrepreneur, Victor Ohaekwu, who is aiming to turn Lagos into a global photo industry.

    Ohaekwu was never keen on photography in the first place. He had his mind on medicine at the Ambrose Alli University, Ekpoma. But he lost his parents, so he couldn’t continue his academic pursuit. Selling photography materials was an interesting option, he told The Nation.

    He had a friend who gave him some some products on credit. As he sold and repaid, other distributors built confidence in him.

    After six years, he decided to open his first studio on Lagos Island. He self-funded the business. He was able to acquire equipment to establish the studio. Equipment such as professional digital SLR Camera, Studio high-speed sub-dye photo printer, computers with preloaded software, photo paper and ribbon print pack.

    Gradually, he built his clientele. They come from vendor referrals such friends, venue coordinators, florists, DJs, and others in his area.

    Despite the economic climate, the business has survived, and is growing. He runs workshops for photographers.

    Photography is growing in popularity due to increasing use of digital cameras. He familiarises students with the features of their cameras, offers photo-editing workshops using Photoshop Elements and Adobe Photoshop.

    For beginners, the minimum equipment required are a laptop computer, projector, printer and some software.

    On his challenges, he listed funding.

    He has a degree in Business Administration from the Enugu State University of Science and Technology (ESUT). His business background has helped him in running the outfit.

    His plans for the future?

    In the short-term, he wants to drive the business to actualise his dream. The longer-term objective is to grow and expand across the nation, he said, adding that presently he has shops in Aba, Onitsha, and Bayelsa. He plans to expand to more states.

    He said over the years, photography has witnessed a lot of changes, and has grown to become a profession. He saw changes coming early and capitalised on them by refocusing his talents. He has more than 20 employees. Much of his time is spent in meetings and dealing with administrative details.

    Ohaekwu said the company has not achieved astronomical sales growth because of lack of funding.

    With increased competition and many consumers taking professional quality photos on their own, he is working on strategies to create a business with more growth potential than his studio.

    However, he needs more funding to bring in state-of-the-art equipment and also help enthusiastic those eager to become self-employed.

     

  • Establishing fruit juice processing plant

    Nigerians drink a lot. This is why drinks sell very fast. Today, fruit juice and milk drink enjoy good patronage with a large market share.

    Investing in fruit juice and milk flavoured products (chocolate and strawberry) is a good business opportunity.

    The basic equipment, machinery and facilities required are informed by the products and packaging materials/pack sizes recommended in the products and packaging section. The production facilities could be locally fabricated (manual) or imported sophisticated/automatic process production. The cost of production equipment ranges from N15 million to about N120 million, depending on the promoters’ financial ability and choice.

    The major raw materials include raw fruits (from local farmers), fruit juice concentrates for juice and drinks to be imported to argument farm supplies and provide the varieties in the range of products. Food ingredients (food flavours, acidulates, preservatives, stabilisers) granulated sugar, outer trays and shrink wrapping, nylon materials are to be imported.

    Packaging materials will include Tetra Pak (paper and pre-printed Doyle packs). The availability of the fruit juice concentrates is not in doubt as they are produced abundantly in different parts of Europe, America, Asia, South Africa, etc.

    Basically, two methods are used for reducing or eliminating the pathogenic and spoilage micro-organisms, depending on the products concerned. For fruit juices and fruit drinks alone, the pasteurisation process is all that is necessary.

    Pasteurisation simply employs the principles of heating the product to a temperature of 75-900C (depending on equipment design and product) at a certain contact time ( 3 -8 seconds, depending again on equipment design and temperature applied), and suddenly dropping the temperature to about 20-250C (depending on filling room temperature). This treatment is usually enough to take care of spoilage organisms associated with fruit juices and fruit drinks.

    The other method is sterilisation, usually applied to highly microbiologically sensitive products susceptible to pathogenic and spoilage micro-organism in the milk and yoghurt products.

    The processes that take place at the packaging stage depend essentially on the type of packaging material, and the packaging equipment itself. Packaging material made of paper, sachet nylon, Doyle packs, employ the form, fill and seal principles.

    This is in sharp contrast with PET or Plastic (PVC) or Glass packaging materials, where different equipment forms the bottle and other equipments does the filling. In form, fill and seal, the same equipment accompanies the three stages.

    A small sized fruit juice plant set up in any of the urban cities of Nigeria stand the chance of reaping huge daily incomes for the promoters. A turnover of about N140 million of its 45 per cent installed capacity utilisation at first year operation is expected. This will give a first year after tax profit of about N28 million, which is 20 per cent of turnover.

    For a well packaged and comprehensive feasibility report, which is also a pre-requisite for fund sourcing and proper implementation of this project, please contact us through krisedbrilliant@yahoo.com or call 08023381900.

     

  • Economic summit coming

    The President , Odu’a Chambers of Commerce, Industry, Mines and Agriculture (ODU’ACCIMMA), Mrs Alaba Lawson, said the Chambers would host an economic summit before the end of the year.

    Speaking at this at the Third Annual General Meeting of the group in Ibadan, the Oyo State capital, said: “We are organising an economic summit before the end of the year that will focus on agriculture where the stakeholders will brainstorm.”.

    Mrs Lawson said the aim of the chamber was to actualise the vision of its forefathers in regaining the region’s lost economic glory.

    She said the event would help in returning the region to economic buoyancy through agriculture.

    The industrialist said the event would engender strategies aimed at repositioning the Southwest.

    Mrs Lawson recalled how the region recorded unparalleled achievements in commerce and agriculture when the Southwest was the food basket of the nation.

     

  • Surviving against all odds

    Surviving against all odds

    Women are playing a major role in exhibiting their entrepreneurial abilities.

    They have continued to stand on their own. One of them is Mrs Sandra Elom, the Chief Executive, Sanchris Nigeria Enterprises, who believes entrepreneurship is necessary to tackle unemployment and poverty.

    For her, a woman should prove herself in making her products well known.

    Some years ago, Mrs Elom started a small cosmetics business with N5,000. She had no factory. Banks weren’t willing to give her a loan. Today, it has blossomed.

    When she started she had a brush with the police. They seized her products and kept them in the custody of ed the National Agency for Food, Drugs Administration Control (NAFDAC). She never got them back. She had to start all over again with borrowed funds.

    She makes the products using plastic drums and a huge mixing stick and heating oils, delivering her products by hawking. In time her products, became popular with street side local hairdressers because of their availability and cheapness.

    As her petroleum jelly becomes popular, she tries to ploughed back her profits into increasing her production capacity. She intends to set up better operational strategies, emphasising quality and packaging.

    The emphasis on healthy lifestyle and clean environment has assisted the trade. Her staff include mainly family members who are also using the opportunity to learn the trade.

    Her dream is to make the products safer and better packaged.

    She has realised that the business takes more time and money than she ever thought. Her consolation is that her customers are warm.

    Her major challenge is cash. Accessing loan for her business has not been easy. The firm is seeking funding to acquire facilities and get the product to every nook and cranny of the country.

    She looks forward to employing more hands when she sets up a factory. She believes women ought to find something doing to support their husbands. She prides her business on cleanliness, professionalism, and using the best cosmetics in the industry. She is excited to meet with people who are looking forward to enhancing their beauty. She has achieved her ultimate satisfaction by affording the opportunity of economic empowerment in her own backyard and community. She hopes to evolve to become one of the leading local manufacturers of cosmetics products.

    As the business grows, so will the business model and the production unit expanded to produce a range of products that is sold under the company’s brand names.

    To acquire skills in production, Ms. Florence enrolled in many numerous training programmes.

    She advised other SMEs and potential entrepreneurs to produce quality products.

  • Support entrepreneurship growth, govt told

    The government can contribute significantly to the growth of Small and Medium Scale Enterprises (SMEs) if it supports them, the President, Association of Micro Entrepreneurs of Nigeria (AMEN), Prince Saviour Iche said.

    Speaking at a meeting of the association in Lagos, Iche said AMEN was determined to reinvigorate entrepreneurs and push its activities, and that it would work with the government to restore SMEs’ confidence.

    One area SMEs require assistance, he said, is in the promotion of local products and this can be addressed by the government and its relevant agencies through the capitalising on the various channels.

    He said small businesses need support to grow.

    According to him, recognition of entrepreneurs as creators of jobs and prosperity should be spread into governance.

    He called for progress in the areas such as more simpler regulatory requirements and access to finance, support of new businesses, adding that this will reinvigorate entrepreneurship.

    He said the association was working to facilitate entrepreneurship among Nigerians by establishing branches across the country.

    He said the association would collaborate with government’s agencies to remove obstacles to genuine entrepreneurs establish a business.

     

  • A soap maker’s story

    A soap maker’s story

    MANY today earn a living from soap making. The business can be started with a small capital.

    Alhaja Mulikat Owoeye developed special interest in soap making and devoted time to acquire the art of making her products irresistible. She developed cleaning products that are affordable and safe to use.

    She started business with N10,000, by making liquid soap; now her assets are worth N200,000 and with opportunities for growth.

    Getting a factory for business remains a challenge for many entrepreneurs. And Alhaja Owoeye’s case is not different. In the early years, one of her biggest challenges faced by her firm was insufficient awareness for the products. But as the business grew, it faced another challenge: competition from local and imported brands. She survived with the business acumen garnered over the years.

    She gained deep knowledge of soap making skills through apprenticeship and has grown her customer base.

    How does she make her products? She explains the process. Raw materials, such as tallow, lard, coconut oil, palm oil, palm kernel oil are available. With her equipment, she blend these materials and use them to produce her products. The stabilisers, she added, helps to ensure the uniformity and stability of the finished product.

    Dry and liquid ingredients are added and blended to get a uniform mixture.

    It is estimated that the demand for laundry soap is 8,000 million tablets per year. With increase in population, the demand bound to rise.

    Besides, there is a large market for them in the West African sub-region. As in any business start-up, she had to work hard to establish its name, and to build trust and confidence among clients.

    She was sharing the products with friends and family and they kept encouraging her to start a business.

    How did she finance thebusiness? Initially with savings, she said. Today, success and acceptance of her products have boosted production and increased her turnover.

    Moving ahead, she intends to continue to build on the business’success and grow a strong team. She has learnt a lot about business and money. Her dream is to be a big player.

    For her, a product is driven as much by distribution as by demand. She advised women to seek knowledge on what they do not know and go for training so that they will enhance their skills.

     

  • Long road to success

    Long road to success

    Chemical manufacturer, Emmanuel Umesiosi, has made many mistakes in business before making it in pesticides production.

    Umesiosi, who is the Chief Executive of U3 Global Pharma Resources Limted, suffered failed businesses, but kept trying because he believed he is caught out for entrepreneurship.

    He started as an apprentice pharmacy technician at Idumota, in Lagos.

    After his training, he started a small patent medicine business, which included product distribution. From a small beginning, the business has grown to become an household name in the late 80s.But Babaginda’s regime moved against them.

    Eventually, he lost a fortune and was back to square one. Never given to defeat, Umesiosi decided to start a chemicals business. The biggest obstacle to starting the business was finance. Chemical entrepreneurs finance their businesses with a bank loan, government grants, personal contributions, and thrifty societies. The business could be stressful, he said, adding that the uncertainty of the next contract was worrsisome to him.

    Umesiosi said his business suffered a setback when the Obasanjo administration beamed its searchlight on operators of chemical businesses. After losing so much money and failing, he decided to give it another shot. At the moment, he is into production of pesticides, which he started with N3,000.He employed six people.The business has grown and is worth N500,000.

    He called on the government to protect the small business sector from economic downturn.

    Despite all these, he is adjusting to the challenges of the operating environment. His failed attempts in business have taught him never to lose faith as his company’s products are beginning to make their way to market. According to him, the sector has made a major contribution to trade in manufactured goods and it employs highly educated and skilled people.

  • Cross River to invest in local content

    The Cross River State Government is set to invest in local content development through skill acquisition and vocational training, the Economic Adviser to the Cross River State Government, Prof. Ndem Ayara, has said.

    He spoke at The Bridge Leadership Foundation (TBLF) Career & Founder’s Day in Calabar.

    The government, he said, would support youths in entrepreneurship, pointing out that so far, 10 investors plan to invest in construction, manufacturing, oil and gas, energy and power and agro processing in the state.

    He presented an industry survey by the state to ascertain areas of skill dearth, employers’ needs and the human resource to meet them.

    Ayara highlighted the areas where skilled manpower are needed and the potentials of the service industry to provide auxiliary services.

    Earlier, Acting Director/Consultant of the Foundation Mrs Ini Onuk said: “Our theme for this year is intended to challenge the mindset of young people who mostly blame the government, their parents or relatives for their circumstances but forget the role that personal leadership plays in shaping one’s life and destiny.

    She said: “Today, we bring practical examples of people who have made decisions to better their lives, young people who have risen above the challenges that life threw at them.”

    Chief Executive Officer of Flying Doctors Nigeria, Dr. Ola Orekunrin, who spoke on Social entrepreneurship: Finding solutions and making impact, urged young people to find their paths, contribute to solutions to the state and country through social entrepreneurship.

    The speakers urged participants to be prepared to identify and take up opportunities.

    Participants also took part in an ‘Elevator pitch’ contest, where many prizes were won.

    The winners, who emerged are Raymond Ukwa who from Abia State, Charles Nzan and Godwin Offiong who carted away book prizes.

     

     

  • ‘Lagos centre to partner training institutions’

    The Lagos State Public Service Staff Development Centre (PSSDC) will partner other training institutions, its Director-General Mrs. Olubunmi Fabamwo has said.

    She spoke while receiving a delegation from the Institute of Strategic Management of Nigeria led by its President,Dr. Otive Igbuzor, in her office.

    Mrs. Fabamwo said as the training arm of the public service, the centre is poised to equip workers with the tools needed to keep pace with the state’s focus of being Africa’s mega city.

    She said 21st century managers must be equipped with strategic planning tools to remain effective.

    The centre, according to her, has aligned its vision with that of the state and is simultaneously benchmarking its services with other training institutions in Africa to deliver on its mandate.

    The centre, Mrs. Fabamwo emphasised, is not only a training institution, but that it provides solutions for stakeholders, especially in the public service.

    She said a framework was in place to achieve its objectives, adding that 21 old courses have been reworked and 37 new ones designed to accommodate the public service.

    Igbuzor said the visit was part of activities marking the 10th anniversary of the institute.

    The institute chose to reach out to PSSDC because of the recognition of its “critical mandate of developing requisite manpower needed for the sustainable growth and development of the public service in Lagos state”, he said.

    He said the institute was proud to be associated with the centre and would be willing to collaborate with it in deepening strategic management, especially by the public sector.

     

     

  • ‘Never take no for answer in business’

    ‘Never take no for answer in business’

    ANITA Wayor is the founder and chief executive of Petra Solid Ventures. A holder of a degree in Biochemistry from Olabisi Onabanjo University (OOU), Ogun State, she worked as a freelance usher at an advertising agency.

    It was while there that she nursed the idea of starting her own business.

    Anita saw an opportunity in household cleaning. After her graduation, she opted for entrepreneurship when she could not get a job.

    She was convinced that developing products to fill specific market needs has the potential of becoming a big and profitable business.Moreover, the household cleaning industry was not affected by recession. By 2011, she was ready to fulfil her dream of running her business. She started toying with the idea of producing affordable home cleaning products that will stand.

    She decided to set up Petra Solid Ventures, a firm that manufactures household cleaning products, but realised that most of the products in the market were not affordable by most Nigerians. Hence, she decided to develop a product that is affordable, but didn’t have enough money. She could only raise N12,000; so, she started from her room. Today, the business has grown such that she has a factory.

    Wayor sells to camps, hotels restaurants and corporate organisations. Her business is growing, thanks to the middle class. At a time most young graduates are looking for white collar jobs, she started a business despite the risks involved.

    The market for household cleaning products was saturated. But she believed the venture will thrive as long as consumers accept they are spending money on value. For her, when an entrepreneur matches a need in the marketplace with what’s best for consumers, she wins.

    Her products are popular. Fegen is a registered trademark brand of Petra Solid Ventures.

    According to her, the challenges are many. One of them is competition from big firms.

    Others are difficulty in dealing with government agencies, power interruptions and poor infrastructure. In spite of these, she has been able to handle more businesses and could hire more staff.

    Her commitment to leadership is strong. Also, she uses only National Agency for Food, Drug Administration and Control (NAFDAC) and Standards Organisation of Nigeria (SON) certified products for production.

    She urged entrepreneurs to ensure that their business plans are executable. According to her, an entrepreneur must be pragmatic, have a product that one can sell in the environment, be patient and work a lot harder in order to succeed.

    She advised entrepreneurs to get more information about the type of business they want to pursue before making an investment and also find solutions to their challenges.

    Entrepreneurs, she added, should not be afraid to pursue their dreams.

    For her, building a venture from scratch is not for the faint-hearted. One must have courage, tenacity, perseverance and resilience. “Never take no for an answer, be solution-oriented and be patient,” she said, adding: “I have learnt to never say die.”

    She has met people who thought she was crazy to start a project like hers instead of looking for a white-collar job. But her passion for entrepreneurship has kept her going. She never stopped believing in her dreams.

    As a luxury brand, she cannot afford any inconsistency in quality. She competes with international brands, benchmarking with the best to grow her business. Despite setbacks, she is persevering – most of which turned out to be sources of strength.

    She said young Nigerians must think of starting something rather than wait for white-collar jobs.