The Nation Newspaper

Category: Small Business and Entreprenuership

  • Empowering youths

    Salem International Christian Centre (aka Foundation Faith Church) is working to reduce poverty and unemployment through entrepreneurship. The group held a conference in Lagos, DANIEL ESSIET reports.

    Salem International Christian Centre, SICC (aka Foundation Faith Church) has exposed young entrepreneurs to opportunities at a conference themed: “Identifying opportunities and positioning SMEs for growth”.

    Leaders from the business sector flocked the conference aimed at reducing poverty and promoting entrepreneurship.

    Its founder, Dr. Sam Amaga, said the growing number of unemployed youths called for more solutions to address the situation.

    He said the church introduced skill acquisition and entrepreneurship to raise an army of entrepreneurs that would drive the economy and not job seekers, who would roam the streets in search of scarce jobs.

    According to him, the church was ready to work with the government to create jobs and boost poverty reduction through entrepreneurship training.

    The event, also titled: Exploit 2018, is a strategic empowerment and business capacity building programme envisioned by SICC to build a new generation of Christian entrepreneurs, who will become wealth creators.

    Since last year, the cleric said, 78 people had graduated from the church’s skills acquisition programme with 300 registering for this year’s.

    He said SICC would partner Salem University to affiliate the programme to its Centre for Entrepreneurship Studies.

    From this year, according to him, the church will run an Advanced Certificate Programme (ACP) in Skill Acquisition and Entrepreneurship Development (SKED), combining the university’s curriculum with hands-on- practical training to enhance employability of graduates or startups, adding that self-employment could create new opportunities for the youth.

    Amaga, who is also the Chancellor of Salem University, Kogi State, said the institute has trained 400 orphans from the Internally Displaced Persons (IDPs) camps in various courses at the university, urging educational institutions to play a vital role in shaping the future entrepreneurs. The education system, he said, should be rejigged to cater to the needs of young entrepreneurs.

    SICC Provincial Bishop of Lagos and Southwest, Enobong Etteh, noted that achieving the goals of ending extreme poverty and boosting shared prosperity would require church’s efforts through programmes to support entrepreneurship to boost private sector-led growth.

    A central theme of the conference, according to him, was the critical role played by startups and small businesses in creating jobs and spurring economic growth.

    According to him, SICC organised a three-month skill acquisition programme, adding that some of the exhibitors were products of the programme.

    Deputy Director, Development Finance, Central Bank of Nigeria (CBN), Adebisi Adedeji, said small and medium enterprises (SMEs) represent the majority of the business population.

    He added that economic opportunities linked to SMEs were also significant and that the bank was providing various interventions to enable SMEs play an increasingly important role in addressing urgent development challenges. These include funds to support emerging entrepreneurs at each step of their journey by providing early-stage financing, technical training and market intelligence.

    According to him, the importance of skills acquisition to national development could not be over emphasised for people to be economically self-reliant, adding that the youth must be encouraged to embrace self-employment through skill acquisition, which guarantee financial empowerment.

    Founder, LEAP Africa, Mrs Ndidi Nwuneli said SME development is critical to achieving the goal of the transformation agenda.

    According to her, agriculture is an incredibly exciting industry to be a part of in Nigeria and that it offers rewarding opportunities and a bright future to Nigerians looking for investment opportunities.

    She urged the government to work with the private sector to provide Nigerians a window into the world of agriculture and connecting them with these opportunities.

    She disclosed that there were so much funds coming into the agricultural sector. She then called on entrepreneurs to set up boards of directors and instill corporate governance if they were to benefit from such opportunities.

    Mrs.  Nwuneli, co-Founder of Sahel Capital, said her organisation is dedicated to building inclusive, sustainable and prosperous local economies, adding that as a social entrepreneur, she is determined to meet the needs of entrepreneurs, small and growing enterprises in areas, such as sustainable agriculture. She has become a mentor to many entrepreneurs, helping them to increase income and build new businesses.

  • Building a successful digital enterprise

    Afua Osei was the main speaker at a master class organised by Meltwater Entrepreneurial School of Technology (MEST), Lagos, an entrepreneurial training programme. She shared her knowledge on how to build a successful digital enterprise, DANIEL ESSIET reports.

    Top African women are harnessing the potential of digital tools to build entrepreneurial successes. One of them is the co-founder of She Leads Africa, Afua Osei.

    Through developing digital marketing, online commerce and startup incubators, women are providing other female entrepreneurs with skills, case studies and assistance to help their own businesses to flourish.

    Osei is a marketing consultant and visionary business coach to sustainable brands, social ventures and transformational entrepreneurs, helping clients to increase their online visibility and attract more traffic, leads and sales.

    She is a long-time entrepreneur and marketing maven. Three years ago, there were very few female technology entrepreneurs. Today, thanks in part to Osei and others, Lagos is home to dozens of female entrepreneurs who are using technology to advance their businesses and diversify their client bases.

    Osei’s journey to entrepreneurship has been interesting. She started by working in the Office of  the First Lady of the United States (US), Michelle Obama; working in other political campaigns, consulting for Mckinsey in Lagos and finally started SLA with a fellow McKinsey consultant, Yasmin Belo-Osagie.  She has become a powerful force in Nigeria’s budding entrepreneurship community. For the past three years, she has built her business as a digital magnet, winning clients through networking events. The secret to her success is building a powerful online platform that attracts ideal prospects and clients.

    At The Meltwater Entrepreneurial School of Technology (MEST), Lagos, a pan-African entrepreneurial training programme where she shared her knowledge on building a digital enterprise, Osei told the forum that there were tremendous opportunities for young entrepreneurs to explore within the digital space.

    She spoke on: How to build a digital tribe and transform it into a thriving business.

    According to her, the social media has given creative leaders and game changers the opportunity to express themselves, build a following, and earn through their passions.

    She said new entrants and established ones in digital business require skills to create sustainable relationships with their followers to make money.

    She said companies are ready to work with digital tribes and influencers as long as they are guaranteed more return on investment (RoI).

    According to her, SLA aims to facilitate networking and collaboration and to galvanise and support female-focused businesses.

    The enterprise, according to her, has served women across multiple industries, through seminars, workshops, and one-on-one mentoring, all in a bid to strengthen their business acumen.

  • Success in decor business

    The home decor industry is undergoing changes. A few innovative start-ups, powered by women, are leading the change. One of them is Decor Nigeria, founded by Banke Ajagunna, one time community manager of co creation hub (Cchub), DANIEL ESSIET reports.

    Home furnishings is a multi-million industry and the space is attracting innovators and investors alike.

    With so many young Nigerians playing in the sector, the industry is growing with endless inspiration and access; there are a lot more choices, variety and experimentation.

    One entrepreneur taking the industry by storm is Banke Ajagunna, one time Community Manager Co-creation Hub Nigeria (CcHUB), a place where technologists, social entrepreneurs, government and technology companies, impact investors around Lagos.

    Managing a hub opened her eyes to see a clear need in the way spaces were put together and she decided to fill that gap. Interior design combines her numerous interests and skills into one passion, making it a natural progression for her.  She established Decor Nigeria to design functional spaces for corporate and individual clients.

    Her business-savvy led her to having a hefty roster of celebrity clients to kick its visibility into high gear from the start.  How did the idea come?

    She said:“Decor Nigeria was born from a need to make spaces that are functional, but are aesthetically appealing. Having worked and seen the way offices are setup in Lagos, you would see that employers put no mind to the look and feel of their office (s) and we want to change that.

    “Apart from the fact that it’s been proven that a well-designed office space improves productivity, there is also a general sense of pride in walking into a space that reflects your values as an organisation.”

    She has been in the business for about two years now. There were initial challenges. She recalled: “For instance, it’s been a struggle getting high standard locally made furniture and we’ve had to depend on sourcing our furniture from outside the country. We are now working on a premium furniture line that our clients and ‘walk-in’s can appreciate at great prices. We haven’t launched this arm of our business yet, but we hope to do it in the next quarter. Besides, she has a success story to tell as the business is self-sustaining.”

    She is proud of what she has accomplished so far. She said: “Yes- I’m grateful for how far we’ve come and we are only just scratching the surface.”

    She has five workers, including two freelancers and a handful of contractors.

    Her most satisfying moment in business

    “Every time we complete a project and get the client’s nod of approval- that is satisfaction right there.”  She made a lot of sacrifice to be a successful entrepreneur.

    “Fancy jobs of course, I had an interesting career path in the tech industry and because my area of expertise wasn’t saturated yet, this made me very attractive to employers, but I’ve had to decline so many opportunities to put my all into building this business. We are still on the path to success and I know we will get there.”

    Advice to young entrepreneurs “Get a support system, a tribe that has your back. It could be family or friends or even your colleagues. There will be tough times and you need these people to help you through,” he said.

  • NGO trains farmers on E-commerce

    Sunny DeLegend Services, a Non Governmental Organisation ( NGO), in collaboration with Kogi Government  has trained 500 farmers on “Agriculture Beyond Food: E-commerce Training”.

    Its  Managing Director, Mrs Joy Amuta, said  in Lokoja that the training would cut across areas such as agriculture, fashion, recycling and real estate.

    She added that 10,000 farmers were targeted through value chain with Information and Communication Technology (ICT) including benefits such as workshop, business plan, loan facilities, off-takers opportunity, partnership and business connection.

    “Many people do not know that with agriculture you can become a millionaire, and that is the reason we are trying to educate, sensitise and train them in that aspect.

    “We are also partnering with Tehilla Shelter Foundation, Heal4Africa Initiative,Small and Medium Enterprises Development Agency of Nigeria(SMEDAN) and other stakeholders to bring hope to the people and restore to them what they had lost in agriculture.

    “Today, we are opening the mind of the participants that they can actually channel whatever passion they have into agriculture; you can source your income from agriculture and use it to develop your passion,” she said.

    Amuta commended the state Commissioner for Agriculture, Mr Kehinde Oloruntoba, for making the programmme a success, saying the farmers are ready to really engage in mechanised farming.

    “We will educate, sensitise, train and give them the necessary information on how they can easily access these funds.

    “We urge all farmers across the state to take advantage of the programme and key into it,” she said.

    She added that the organisation had mapped out 1,000 hectares of land for this wet season, but the main challenge was land clearing, saying the commissioner has promised to facilitate it.

    Oloruntoba commended the organisers for the initiative, describing it as a wonderful project and a way of empowering the people to richness.

    According to Oloruntoba, there is land, water and people; and the government is supporting agriculture, but the NGOs are needed to partner with government to educate and train our people.

    “So, programmes like this will create an avenue to let our people know those opportunities that are available to them and take advantage of them.

    “We have also completed land mappings few days ago for 4,800 farmers with minimum of one hectare each, for proper information and accurate data to eliminate sharp practices,” he said.

    Mr Clement Ilegoke, a participant, said on behalf of his colleagues that: “I think we are impressed because the loans are well explained and we are all ready to go back to the farm and make the state proud.”

  • MEST Africa holds Pan-African challenge

    Meltwater Entrepreneurial School of Technology (MEST) is set to host its first Pan-African startup pitch competition, the MEST Africa Challenge. The MEST Africa Challenge is looking to find the continent’s most exciting tech startups that are ready to scale into new markets. The winner is expected to get $50,000 in equity investment from MEST, as well as a home in any of Mest incubators in the key cities. This year’s event, according to the organisation would be targeting four cities, namely, Accra, Lagos, Nairobi and Cape Town.

    The organisation said applicants have between now and April 22 to apply online to pitch at one of the regional events holding the four cities.

    Regional pitch events will hold at MEST Incubator campuses on – April 28 in Accra, Ghana; April 28 in Lagos; April 30 in Nairobi, Kenya; and May 5 in Cape Town, South Africa.

    Chosen winners of the regional competitions will be taken to Cape Town in June to pitch in the finals. They will also get a chance to meet the leading investors, corporates and ecosystem partners from across Africa, Silicon Valley and Europe.

  • Mall for Africa Launches Affiliate Program in Africa

    Mall for Africa, Africa’s most popular e-commerce and m-commerce platform, has  announced the launch of its affiliate programme . Those who refer traffic to the Mall for Africa website will receive an affiliate fee every time one of their readers makes a purchase.

    A  statement said: “The programme  enables anyone to earn extra revenue by simply adding an affiliate link to their website and earn a flat fee every time a purchase is made. Setting up an account is simple—the affiliate logs into the Mall for Africa website, retrieves a unique affiliate link specifically for their site, and shares it. The more the affiliate link is shared, the more revenue they can earn.

    “We are thrilled to offer affiliates in Africa this opportunity to earn extra money,” said CEO of Mall for Africa,Chris Folayan. “By adding a distinct affiliate link to their site, they can sit back, relax, and earn money for every purchase their readers make. It’s that easy.”

  • “Why I started an online employment business”

    Nigeria is witnessing a new generation of startups. Utiva is an online learning start up, helping college students build skills that make them attractive to employers.It is an inspiring success story from a young Nigerian,Eyitayo Ogunmola, who is paving his own road of innovation and dream. DANIEL ESSIET reports.

    Employability is one of the biggest areas of concern in the Nigerian labour market today.

    While there are several initiatives that ensure students get a great education, there still is a great gap in the market on absence of skills to make graduates employable.

    In fact, over 70 percent of the nation’s  graduates are not only unemployed but are actually unemployable according to corporates, who found  that they lack the necessary skill sets.

    It was to combat this problem that founder of Utiva,Eyitayo Ogunmola, physiology started the  platform to provide  students with  employability skills even before they graduate from school.

    From pre-assessing every student’s aptitude and technical skills to learning modules which provide complete knowledge and skills pertaining to the campus rounds, Utiva looks into all aspects of employability.

    On how the idea came: ”Well, it was about what I experienced. I realised that I must be a part of the change instead of complaining that Nigerian educational system does not develop skillful young people. I decided to go back to the schools and work with the universities to set up an intervention. It was pretty simple when I started. I started basically with helping young people build project management skills. I realised that the industry was growing and expanding, and I saw needs for young project managers. And it emerged into something totally different and new in Nigeria. We started to speak with the job market and a few companies just to understand the skills and competencies they want to see in young graduates, and we started to develop our engagement and value proposition around those skills.”

    According to him, Utiva is a system of learning which combines both traditional classroom approach with a soft-touch technology, computational science and social learning to deliver value to the students and also to the market.

    Ogunmola said the system “integrates online with traditional face-to-face class activities in a planned, pedagogically valuable manner to train undergrads for the future of work and business.”

    ”We are working closely with students undergrads in schools, helping them develop skills, competences, knowledge and capacities for the life after school. Utiva helps students transition from education to employment and entrepreneurship.”

    Using online platform, students learn eight skills within our one and half year programme starting with a 105 hour bootcamp. These include:   sales, business development and marketing,    project management,    workplace communication,    fundamentals of business research, excel, PowerPoint and web-based collaboration tools,    design thinking and iteration, financial modeling and valuation and  ethical and corporate leadership.

    However, the ride hasn’t been easy. But they have recorded success stories.

    He said: “” I am happy with what we have done as an enterprise. We have gone from two to 25 schools. In some schools, we have about 1200 while we are building up in some schools. We have built a strong working team. 17 per cent  of our students have gone to set-up small ventures in school. A few companies are becoming conscious of the Utiva brand and the quality of the students that come out of our programme. We have built one of the biggest faculties in Nigeria with about 65 people within the network. We have also been able to raise some equity investment as a validation of our value proposition.

    They currently work with students across 25 schools. “But we have a huge presence in seven higher institutions. That was how we moved and grew.”

  • Boosting African entrepreneurship

    Startupbootcamp, a global business accelerator, is supporting startups and tech entrepreneurs to build innovative solutions to address problems in payment solutions, e-commerce and alternative financing, among others. The organisation held its fast track during the weekend for prospective entrepreneurs in Lagos. DANIEL ESSIET was there.

    At least 20  Nigerian startups used the Fast Track  Forum organised by Startupbootcamp, a global business accelerator at Capital Square, Dolphin Estate, Lagos at  the weekend,  to pitch their businesses in just a few hours.

    Startupbootcamp is a network of industry-focused startup accelerators. It was founded in 2010 and now operates globally with 20 plus industry-focused programmes in key locations, including Cape Town, San Francisco, Amsterdam, Cape Town, Chengdu, Berlin, Dubai, Hartford, Istanbul, Rome, London, Melbourne, Miami, Mumbai, Mexico City, New York and Singapore.

    The entrepreneurs — including the founders of Credalpal,Jama, Smarttellers,Electronic Esusu, introduced their technologies, with founding teams in place. The event offered direct showcasing of the selected businesses, as well as access to vital insights from angels, corporates and seasoned entrepreneurs through networking, making  it a very worthwhile experience for both entrepreneurs and investors.

    Co Founder/ CEO, Startupbootcamp Cape Town, Philip Kiracofe, said FastTrack events are for startups to present their businesses to an elite group of mentors, comprising industry experts, corporate executives and investors.

    Through the forum, he said startups will be able to engage with the Startupbootcamp community and be exposed to worldwide opportunities.

    Kiracofe, said about 518 startups applied to participate in the event, saying 20 were selected. He said applications will open this month for its three-month Africa acceleration programme in Cape Town.

    According to him, the final deadline for innovators and entrepreneurs to apply online for the final accelerator, is May 24. The programme will kick off in September.

    He  stressed that FastTrack engagements are not a requirement to apply for the Startupbootcamp Africa Accelerator, encouraging all startpus to apply, stating however that attending a FastTrack will be to one’s advantage.

    From a pool of hundreds of applications, Startupbootcamp Cape Town, will select the 10 most promising teams, and will provide each team with a stipend, highly engaged mentors, free office space,  access to funding and a network of industry partners, investors and venture capital firms.

    By going through Startupbootcamp’s accelerator programme, startups have every chance to succeed on a local and global scale, he said.

    Core sponsors for this Africa-based programme, include Old Mutual, RCS, PwC, BNP Paribas, Nedbank and Woolworths Financial Services.

    Head of Innovation at Old Mutual Personal Finance, Stanley Gabriel, said the forum was a great example of how the Startupbootcamp is helping to transform the economy by engaging with the start-up community.

    While most startups have the mind-, skill- and tool-set and entrepreneurial passion and focus to facilitate their growth, he noted that they often lack access to clients, capital, and resources.

    Connecting with corporates, he  added,  provides them with useful connections, access to resources, market expertise, and brings them revenue.

    Gabriel, said through partnership with Startupbootcamp, startups have the opportunity to leverage expertise, experience, resources and talent to build compelling commercial success stories.

  • Group seeks establishment of Cooperatives bureau in Delta State

    The Delta State Cooperative Confederation has renewed its call for the establishment of a Bureau for Cooperative Societies to ensure efficiency in the operation of the scheme.

    Its President, Mr. Larry Onyeche, made the call in Asaba, when he led the group on a visit to  the Delta House of Assembly Speaker, Sheriff Oboorevwori.

    Onyeche explained that the bureau, when established, will assist the government in implementing the national policy on cooperatives, especially on employment generation, capital accumulation, poverty alleviation and wealth creation.

    He said cooperative societies played a vital role in the economic development of any nation, adding that the potentials of cooperative societies had yet to be fully exploited in the country.

    He said some factors had impeded effective operation of cooperatives in the state, including improper focus, lack of policy support and inadequate legislative framework.

    “A cooperative society is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations, through jointly owned controlled enterprises,” he said.

    According to him, cooperative movement remains a potent means of meeting the financial needs of large numbers of small producers, industrial sector producers and retail traders, among others, through thrift and credit operations.

    The president said there were over 35,000 registered cooperative societies in the state with membership of over million persons and a capital base of about N20 billion.

    Onyeche recalled that the confederation, during the second Delta Cooperative Retreat 2017, urged the state government to establish the bureau to ensure cooperative development.

    He appealed to the House of Assembly to support the group by enacting a law establishing the bureau, citing Akwa Ibom and Bayelsa as instances where such bodies existed.

    Responding, the speaker noted that the legislature was engaged in making laws that impacted positively on the lives of the people of the state.

    Oboorevwori assured the confederation that the House would support its effort for the establishment of the bureau which it had sent to it as a private bill.

    He gave the assurance that the proposed bill would be referred to the appropriate committee to for consideration

     

  • Group to empower 100,000 innovators

    Project Termite Action Chief Executive Officer Dr Noel Akpata has said  100,000 innovators with  solutions to the nation’s  socio-economic  problems  will be empowered  at the World Creativity and Innovation Day.

    Akpata spoke during a visit to the Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar, in Abuja.

    “The visit is geared towards the celebration of World Innovation and Creativity Day on April 21.

    “We are launching Project Termite Action and Ideas World Cup, a brainstorming series of activities to help Nigerians see the nation in a better light and come up with actionable solutions  to socio-economic development,’’ he said.

    The day was founded to encourage people to use new ideas, make new decisions, take new actions and achieve new outcomes that make the world a better place.

    According to him, the group will use its network to ensure funding will not hinder the innovators from achieving their objectives.

    Akpata said it would collaborate with the ministry to transform Nigeria through creativity and innovation.

    Abubakar pledged to support the group, saying that Nigeria was far behind and needed innovation to solve lot of problems.

    She said the idea, if properly executed, would put Nigeria on same page with other countries with innovations.

    “The country needs an environment where we can have a proper synergy because we have a huge gap in the area of innovation,” Abubakar said.