Category: Small Business and Entreprenuership

“IT’S very important for entrepreneurs to look for people in the company who are not afraid of failures: for example, intrapreneurs. They make a business more successful by thinking like an entrepreneur – but within a company.” -Chirag Kulkarni, Founder of Taco

“I can name dozens of failures that we had over the years. Yet, with all these failures, we still managed to build Appster into one of the largest, and best companies in our industry. So, remember every time you fail, remind yourself these words: ‘Life won’t always go my way, but I will always find a way’.” -Josiah Humphrey, Co-founder of Appster

My advice is to focus on the importance of forging a long-term relationship, whether with colleagues, partners, or customers. It is often easy to get caught up in short-term decisions.” -Sheila Lirio Marcelo, Founder of Care.com

Your ability to attract, evaluate, and forge strong working relationships with co-founders, early employees, and investors often mean the difference between failure and success.” -Clara Shih, Co-founder of Hearsay Systems

You have to get good at ceding control and not taking things personally. Even seasoned entrepreneurs have struggled with that. I think it’s about not taking failures personally and also not taking successes personally.” – Leila Janah, Founder of Samasource and LXMI.

As part of its commitment towards the socioeconomic development of the country, Asahi Brands Nigeria Limited, a subsidiary of the Kewalram-Chanrai Group in partnership with Bridgestone Group, makers of Firestone and Bridgestone branded tyres have hinted of plans to continue to support small and medium scale (SMEs) across the country.

Making this pledge recently was Anil Sahgal, Managing Director, Asahi Brands Nigeria Limited. He spoke in Lagos during the inauguration of Bridgestone, Firestone Tyres centres and unveiling of the Visco Vis Showroom.

According to the Asahi boss, in the company’s drive towards enabling businesses, it has spread it tentacles to different parts of the country, lending material and technical support where necessary.

“We have empowered several businesses, especially those involved in the sales and marketing of tyres as a company involved in the whole value chain of tyres, our commitment to service delivery and after sales is total,” he said.

Echoing similar sentiments, the Regional Director, Bridgestone Group, Middle East and Africa, Stefano Sanchini said it was necessary to further improve and positively expand joint cooperation and partnership among both brands, as Nigeria remains the core of such business expansion and improvement of Bridgestone, Firestone Tyres.

He said the meeting was to further encourage its immense numerous clients and customers on the need for such education and assistance to fully guarantee their lives and the vehicles on the road, and the need to positively invest on the Bridgestone and Firestones Tyres to confidently guarantee them, the real worth for their money.

He said Nigeria remains the core of such business expansion and improvement of Bridgestone, Firestone Tyres, to further encourage its clients and customers on the need for such education and assistance to fully guarantee their lives and the vehicles on the road, as well as the need to positively invest on the Bridgestone and Firestones tyres to confidently guarantee them, the real worth for their money.

Also speaking on the occasion, the Deputy Group Chief Executive Officer, Kewalram Chanrai Group Limited, Victor Eburujalo, reiterated the need for such cooperation to be revitalised, judging from the honest transactions between them and the high quality of the brands, which have continuously impressed their numerous valued appreciated customers, nationwide.

It was all glitz and excitement as Rite Foods, a beverage and food company hosted their first ever ‘Food, Drinks and Her Fair’ to commemorate this year’s International Women’s Day  creating a platform for women to interact, network and do business in a fun filled environment.

The event which held last weekend at Oriental Hotel Lagos attracted People from different ‘walks of life’ especially upcoming female entrepreneurs to the main ball room of the hotel to learn from the panel discussants, Network, exhibit their services, foods and drinks to the admiration of the would be customers who were allowed free sampling in the hope that they would patronize them.

Speaking at the Event, Mr. Seleem  Adegunwa,  Managing Director Rite Foods regretted that many societies still do not appreciate women despite their positive impact in a society. “It cannot be over emphasized that what women teach has a positive impact on the society, country and future generations”.

“As a food and beverage company, it was natural that our thoughts gravitated towards the idea of recognizing, celebrating and ultimately empowering female, food and drinks entrepreneurs by providing a platform where they can showcase entrepreneurial spirit, network among themselves for positive alignments for future success and most importantly have fun while doing that” stated the Firm’s MD.

“This event is the company’s way of celebrating the International Women’s Day, and bringing to the front burner the importance of gender parity in the workplace and empowering women in business”, noted Mr. Adegunwa.

The MD who was visibly excited, acknowledged that the hall was filled with a fine mix of established names and fast rising female entrepreneurs all set and ready to unleash, “We do hope that dreams come true for all of you. I am certain, many here will get new information for the next step in their business”.

In all, 35 food and drink vendors got the opportunity to exhibit their products at the Fair. Speaking with   Seleem  Adegunwa, he explained  that about 500 vendors applied but 35 vendors who applied first were chosen.

The well attended event which started in the morning and ended in the evening had two sessions. In both sessions, panel of successful women were on hand to discuss major challenges facing women entrepreneurs. Money was identified as a huge challenge facing upcoming female entrepreneurs.

In the morning Session the Panelists agreed that it was better to raise money from friends and family than getting loan from a bank especially for someone that was just starting a business. “Getting a loan from bank will put so much pressure on the person. I will advise you save for that project. Deny yourself of a lot, make sacrifice, do any job even if it menial and towards advised Mosunmola Akinwamide, Chief Executive Officer, IPC Events.

 

Ernest Nnezianya is the Managing Director/CEO Health-Gate, an agro-processor, who is involved in processing and packaging. In this interview with Charles Okonji, he recounts how investment articles in The Nation influenced his decision to go into manufacturing. Excerpts:

As an entrepreneur can you tell us what motivated you into manufacturing and agro processing?

I am a regular reader of The Nation and my participation in reading the paper has helped me so much. It your articles that made me what I am today, I am talking of the section where you publish SME investment and production projects. It has been my power of inspiration into what I’m doing today as an entrepreneur in processing of fruits and beverages. So, at the same time, I recommend that people read The Nation if they really want to be like me. They should go and look for The Nation to educate them through your publications. For instance, when I asked my vendor to get me one of the national papers that writes on SMEs, he quickly told me that if that I want to invest in any production in small or medium scale that I should subscribe to The Nation, and I told him to buy all the 2018 publication of The Sunday on Nation. Today, I am a proud employer of labour and I will remain grateful to God for linking to 000.

How long have you been reading The Nation and how did you discover it?

Actually I was reading Punch for a very long time and one day as I was busy flipping through Punch, my vendor asked me what was I looking for, I told him I’m looking for something in processing and he said that I don’t have to go through punch but The Nation. So showing me The Nation, I went through the whole thing and since then I don’t miss The Nation and since I tell people to go for The Nation whenever they think investment.

How has the articles helped you to improve and to invest?

You should understand that I do not have any other knowledge in manufacturing and processing, except from the articles I read in The Nation. My carefully studying of the articles helped me understood how to start the business and run it because but it was well detailed.

How many persons have you been able to employ or you are still a one man capacity?

I have employed over than 15 people directly, this is because of the high demand of our products. Right now, I am planning of expanding the production lines for us to be able to meet up with the market demand as it has been popularly accepted by the eastern market.

What is your turnover like, monthly or yearly turn over?

Because I am the originator of this business, I started without borrowing from anybody. This is because I saw your write up on the paper and the explanations, proved what I have been looking for, but now I do my research on my own. I didn’t have any form of initial education or knowledge about this business before starting, so, I have started doing research on daily basis. I don’t have fears because the outcome is very positive and have hope for a greater tomorrow.

In terms of government policies how has it played out with you?

Yes, that is a very big challenge to us because most packaging materials are still being imported into the country. So you have to think about that and you also have to make sure it is of a very good quality and standard. We are improving on the daily basis to make sure that we can even exporting our product to other African countries in a very short space of time from now. The policy as it affects loan and other things from bank, should be looked into and urgently be addressed by the appropriate authorities. We can’t access loans from bank because the collaterals are almost impossible for starters like us, and even when you can meet up with the requirements, the cost of funds become a very huge hindrance to us.  This force majority of us to start with personal savings and in most cases remain at the same level for years without expansion. But if the government should attend to these issues with urgency, unemployment would soon become a thing of the past.

How would the recent CBN reduction in lending rate to 13.5% actually improve your business?

We are still appealing to the government to further reduce the lending rate to at least, single digit. This is because when compared to other developing countries, the rate is far lower than what is obtainable in Nigeria. For instance, China and India grew their economies with lending rates less than 5%, and in the USA and Europe, it is less than 1%, which make companies in such regions to grow and compete healthily with the global market.

In the agriculture value chain, and the processing equipment and other related areas loan, we are a bit on the high side. It is supposed to be 5% or less, to enable us access every funds we are supposed to. At least we are not doing this only for our own interest, but we are also helping people leave the streets and roads by providing jobs for them through investment. Since it is the responsibility of the government to provide job for its citizens, so the government should help us as we helping the achieve this.

Which is your flagship product?

For now, I will tell you that I have a variety of products and they are all marketable and they are all in high demand. What differentiates us is quality. We have high quality standards, and we are carrying out research daily to see how can improve and remain the best in the portion of market we control and to also expand our market share.

Can you mention one or two of your product?

We process yam flour, cassava flour, chin-chin, peanut; amongst others. Our peanut is a special product that is not comparable to others in the market.

Is it only marketed in the Eastern market or all over the nation?

For now, we are trying to certify the eastern market. The demand is more than we can produce. This is because there is no fund to expand the production line, but we are not sleeping, we are strategizing on how to raise funds for expansion.

What are your experiences so far as a manufacturer?

It is nice being a manufacturer; I enjoy it because I have passion for manufacturing. I had always wanted to be an employer of labour from my youthful days, but my encounter with The Nation brought my dream to a reality. So, this is to say that there is a great hope for Nigeria. But then people are supposed to do what they are supposed to do. Like now, I was able to train people on what to do and how to do it about production. And I tell them to make use of your publication because that will help them so much and that if there is any problem that they should consult me.

What is your final word to government?

There is no need for people to look for white collar jobs; it is for them to consult the right people. Like I said it earlier, The Nation is servicing Nigeria as a whole. The government is supposed to be paying you for giving us information, right information to people on how to carry out production. I believe government should recognise you and give you a great support.

What is your experience like with tax officers?

They should make sure that they reduce tax because they are taxing us heavily, especially when we are double taxed. It is a very a bad situation that we are facing. After paying multiple taxes, it affects our production negatively.

Did they give you in anyway tax holiday?   

Not at all, the moment they started seeing our sign board, they started coming to us to force us to pay taxes, even when we have not made any form of profit.

 

Domino’s Pizza, the market leader and the number one pizza chain in the world, announced the revamp of its extensive menu in Nigeria. Labeled the Domino’s Taste the Xtra Menu, the launch reinforces the company’s commitment to providing the best customer experience through high quality products and customer service. Domino’s Pizza has uniquely customized its pizzas to suit the taste buds of its Nigerian customers with a significant enhancement of all the pizzas, including new flavors,at a more value driven pricing.

The improvements in the new menu have been designed to provide customers with better value by providing Xtra toppings, Xtra flavors and Xtra cheese at reduced menu prices to present customers with a wider selection of quality pizza options that are delicious and affordable. The Marketing Manager, Domino’s Pizza Nigeria, Ilyas  Kazeem, said, “Our menu revamp is aimed at reaffirming our continuous quest for providing only the best quality pizzas to our customers. We are passionate about delivering hot, fresh, delicious, cheesy& juicy pizzas with loads of toppings to provide happiness in every bite. Also, reducing the prices of our pizzas is a way of ensuring that more people can afford yummy pizzas, and enjoy extra value.”

 

The Universal Learn Direct Academia (ULDA) Limited, in collaboration with local and international partners, is raising awareness about construction jobs, careers and training Nigerians for high paying jobs abroad. DANIEL ESSIET reports the great opportunities in the construction industry.

Construction activities are likely to continue to grow across Nigeria and overseas. And the growth will no doubt be driven by increasing infrastructural and residential constructions.

Consequently, there will be a corresponding increase in demand for artisans, including foremen and site managers to oversee these constructions and civil projects. With the demand in construction industry, skilled workers of all kinds have plenty of opportunities.

Speaking in Lagos, Universal Learn Direct Academia (ULDA) Limited President, Olawumi Gasper, said there is a lot of construction and reconstruction being done in Nigeria and abroad, but there are not enough trained workers to do them, saying this is good news for women and men looking for a good-paying construction job.

Gasper, an engineer and former rector of Lagos State Polytechnic, said there are lots of jobs opening  in the construction industry, meaning there is need for more hands in the workforce.

He explained that the industry offers challenging, rewarding career opportunities and encourages anyone, considering their future career path, to think seriously about construction line, because there are enormous opportunities in it.

With a large number of tradesmen retiring over the next 10 years, there is tremendous growth potential for tradesmen throughout the country.

Gasper, whose group is working with firms in infrastructure business to train youths they  want to help make, build and maintain communities, said ULDA is   working together with private- and public-sector partners to emphasise inclusiveness and diversity in construction industry for all Nigerians to access high-demand career opportunities through training and supports.

According to him, overseas construction remains the group’s most important service export. He added that the academy supplies construction workers to sites, noting that the establishment of its Dubai office  was to promote overseas construction activities.

The institute, he said, is training Nigerians to be competitive in the international construction market, noting that construction projects require special skills in design, engineering and construction management.

According to him, local artisans have not been impressive in these types of projects.

The ULDA Dean of Faculty, Babatunde Oluwaseun Faleye, said the economy has a growing labour crisis, a shortage of skilled construction workers.

Builders, he said, are struggling to hire skilled workers in key trades, adding that   there is high demand for wet trades such as block laying, plastering, tiling and painting-decorating, with quality carpenters, plumbers, electricians and masons getting harder to find.

The competitiveness of Nigerian construction services exports to industrial countries, he said, is heavily dependent on the number of highly trained Nigerians it can send out.

Faleye said highly-skilled and well-trained workers are needed, and technical schools must be ready to fill that need.

He regretted that many trade schools are not adjusting their offerings and partnering employers to strengthen the school-to-job pipeline.

Workers trained in the latest techniques, he said,  benefit from higher pay and greater job security.

He said the ULDA, comprising of internationally trained professionals, is investing in training, recruitment and advancing men in the construction trades.

Director, International Relations (Asia/Far East Affairs), ULDA, Alhaji Lukman Garu, said the institute has been inundated with inquiries from prospective customers about new jobs, mainly in renovating and extention of houses. But without the right workers, he said, such customers cannot start such projects.

According to him, there are structural problems the industry has to tackle in improving workers’ skills. One of them, he said, is that many companies lack the ability and confidence to train people.

He said the ULDA is training builders who will be self-employed and specialist sub-contractors for small to medium sized businesses.

Companies in Dubai, Garu said, also report severe shortage of engineers, quantity surveyors, foremen, labourers, ground workers and apprentices.

He said construction is booming for young graduates and there is a bright future for them as they get the training needed for jobs that will be in demand for a long time.

The graduates, he said, can take advantage of the construction industry’s rapid growth as salaries for electricians, plumbers, carpenters, change dramatically around the world.

He noted that the institute’s programmes get people ready for a rich and rewarding career in the skilled trades, by making them to work on sites, and ensure that they build better future for themselves.

The job market for tradesmen and skilled work, he said, is good as there is increased demand for them.

Applications for Africa Netpreneur Prize Initiative (ANPI), a competition founded by the Jack Ma Foundation to recognise 100 African entrepreneurs over the next 10 years, have opened. A statement  announcing its opening  said it is for African entrepreneurs from all countries, sectors and age groups.

Every year, 10 finalists are selected to compete in a finale pitch competition that will be broadcast across the continent.

All the 10 finalists will have access to the Netpreneur community of African business leaders to leverage the community’s shared expertise, best practice and resources.

Alibaba Group Executive Chairman,  Jack  Ma,  first  created the prize after making his first trip to Africa in July 2017 and was inspired by the energy and entrepreneurial potential of the young people he met. The Prize is open to entrepreneurs from all industries, and the foundation especially encourages those running small businesses, those making a difference in their local communities and female entrepreneurs.

Global leaders such as Graca Machel, Chair of the Graca Machel Trust Board, and former UN Secretary-General and Co-chair of the Ban Ki-moon Centre for Global Citizens, Ban Ki-moon, are on the ANPI advisory board. The Jack Ma Foundation has also teamed up with regional partners such as: Nailab (Continental and Eastern Africa); 22 on Sloane (South Africa); Nine (West Africa), and Rise Up (North Africa) to promote the Prize in their respective regions.

The partners will mobilise entrepreneurs across the continent through grassroots outreach. Graca Machel praised the Prize’s inclusive approach and focus on female entrepreneurs. “I especially encourage powerful women entrepreneurs to apply. It is up to you to be the heroes that will usher the continent into the next stage of development, growth and prosperity. Good luck to all applicants and I look forward to your contributions in taking Africa to higher heights.”

The application will close on June 30. To apply and for more information about the Africa Netpreneur Prize Initiative, please visit: www.netpreneur.africa.