The Nation Newspaper

Tag: entrepreneurs

  • Young entrepreneurs making Nigeria proud

    IN  the past, the craze for white collar jobs was the trend for young graduates all over the country. Unfortunately, unemployment and casualisation of the workforce have reduced the opportunities in the public and private sectors. Many have therefore opted for the short cuts, going into vices that ultimately get them into trouble.

    However, there are still a number of young people who decided to look inwards and today are making the country proud with Made-in-Nigeria products.

    One of such entrepreneurs is Oluwatobi Oreoluwa, CEO of Alaga Collections; a furniture company that is making waves with a variety of unique Nigerian designs. In a highly competitive sector, he tells you the secret of his success and the things that set him apart from others. “We are dedicated to telling African stories with furniture and other elements of space. At Alaga Collections, we not only provide comfort and aesthetic value to customers, we also try to make them inquisitive about what they are sitting on or what is in their space. We have worked with brands like Orange Academy and Labule.”

    The dream is big and the picture for the future is to place the country on the international map. However, there are a few challenges that slow down the process. “Easy access to funding is one of the major setbacks for entrepreneurs in Nigeria as well as building a client base as people believe more in imported pieces due to the typical ostentatious nature of Nigerians. It is also tough building a team of people who understand the core value of the brand, but so far we have been able to steady the ship.”

    Interestingly, Alaga did not start as a perfectly formed idea. “It was conceived as a photocopy. I worked as an intern architect in a construction firm in 2012. The firm often imported furniture at a cheap rate. At first, I wanted a franchise for Nigeria but I didn’t get a response from the company. I noticed that they were only in North of Africa. So, I gave up on chasing and decided to create.”

    Doubra Eponwei is the brain behind Zivanora, a brand that specialises in the production of specially handcrafted fashion and fine jewellery crafted from start to finish in their studio in Lagos, Nigeria. “Our products are designed with clean and minimalist design flair, and we believe jewellery should be worn and enjoyed no matter the occasion or location.”

    She goes down memory lane to tell you how it all started and some of the challenges encountered: “My journey into jewellery-making started while I was in college, and over the years the interest and love grew even deeper. A challenge we face is having to deal with high exchange rates. Our high rates make the costs of purchasing necessary equipment as well as equipment that would enable us to expand our product offerings and increase work efficiency very high.”

    This jewellery-making equipment, she explained, are those that can enable local production stand shoulder to shoulder with international offerings. “Another challenge we face is finding very budget friendly shipping rates for international clients. The complaint we get from international customers is the cost of international shipping even within Africa.”

    To stand out and continue to carve a niche for her outfit, she would like to see some changes in the sector. “A change I would like to see is a better appreciation for locally handmade goods in Nigeria, especially with all the hurdles SMEs have to overcome just to get a product to market. There are so many amazing local businesses producing beautiful and well-finished products all across Nigeria but there is still an air of mistrust and feeling that Nigerian made goods aren’t good or they aren’t worth their price.”

    She added: “We have all got accustomed to buying cheaply mass produced items and so a lot of times, it’s difficult for people to appreciate the work, time and resources that go into making a product from start to finish by hand. I am very glad Bellafricana is leading the way in helping to change this mindset and showcasing local brands doing a good job with the products they offer.”

    For the entrepreneur, one of the greatest influences on the business has been the fact that she is someone who is open to exploring other cultures and appreciating their point of view when it comes to design. “It has really helped influence how I think and approach my designs. It helps with thinking outside the box. I would say that government can make things better by creating an environment that makes it easier for small businesses to grow and expand.”

    Her advice for government and other stakeholders is to make Nigeria a friendly place for mass manufacturing. “This will enable local brands who are interested in mass manufacturing to produce their products more cost effectively and boost our economy. All the money that goes out to China or other of such countries could be kept here and used to improve our economy. They say our greatest asset in Nigeria is human capital but what are we doing with it?” she asked rhetorically.

    One sector that is hard hit by the influx from other parts of the world is the textile industry. A lot of the indigenous textile companies have closed down and a lot of the textiles used are imported from other parts of the world. In the early 20th century, the industry was really thriving, with factories in Kaduna, Lagos and Kano; all employing an average of 70% of the total workforce in Nigeria. Today, the industry is a shadow of itself, accounting for less than 2% of the employed in the Nigerian workforce.

    However, a few Nigerian brands have started to break the jinx in the sector and one of such companies is Mimiremi Textiles, a brand under Pattern Design Limited.

    The CEO of the company, Aderonke Jaiyeola, goes down memory lane to tell you what motivated her to go into the sector. “The company was created out of a need to solve the problem of access for fashion designers in Lagos State, Nigeria, to bespoke and quality fabrics that are uniquely theirs. I noticed this gap in the industry in 2012, when I was contacted by a top Nigerian designer, whom I used to work for, to recommend someone that could design her fabrics for her. Since I studied textile design for my first degree, I decided to create the designs for her even though I had never worked on a full digital print before, though most times I draw and create patterns manually.”

    That experience was a learning curve and it opened her eyes to the potential in the sector. “After many days and weeks learning via YouTube and tutorials, I was able to create my first set of four digital textile prints which the designer showcased at the Mercedes Benz Fashion Week in New York.  After this experience, I decided to practice fully as a textile designer and make a shift from my fashion design business after seven years.”

    Interestingly, leaving her seven-year career as a fashion designer wasn’t easy, it took her another four years before she finally settled in as a textile designer.

    The first challenge encountered was how to transit from fashion to textile design, but again this did not deter her; instead she was determined to carve a niche for herself.  “In 2012, my mentor in Business School advised me to concentrate fully on textile design after she saw my designs but I was sceptical about it and was not willing to leave my comfort zone.”

    In addition, Jaiyeola was also faced with the challenge of transferring her designs on fabrics such that they will not bleach/wash off, will be durable and beautiful.

    Her efforts finally paid off and the turning point came when she went for the Mandela Washington Fellowship in the US last year. “At Dartmouth College where I was posted to, I took a course by Professor Rob and Professor Peter on human-centred design, which basically talks about building businesses around solving human needs. We were taught about design-driven entrepreneurship that focuses on developing solutions in the service of people. The question that got stuck on my mind after the class was; how do I build my textile company around this principle?”

    Driven by this passion and a desire to find answers that will address human needs in this regard, Jaiyeola decided to do an exhaustive research into the textile design industry in Nigeria. “From my research work, I discovered that the textile industry in Nigeria is a secret gold reserve that is yet to be fully mined. Looking back in time to one of our class sessions at Dartmouth, I remember we were also asked not to restrict our business goals because of finances but to dream as big as we could, then we can work on getting the finance to execute it. From that day, I had confidence to dream bigger than usual and now the dream is beginning to come alive.”

     

  • Total supports trained Middle Belt entrepreneurs with tools

    Oil giant, Total, yesterday in Abuja hosted a graduation ceremony for 25 participants in this year’s Entrepreneurship and Skills Acquisition for Youth (ESAY) programme and boosted their vocation with relevant starter packs.

    The ceremony, which was held in conjunction with Toncia Consulting and Energy Services, was the second of its kind and it offered an opportunity to 25 participants from the Middle Belt region of the country to gain skill acquisition in paint manufacturing, solar panel installation and PC hardware.

    The starter packs, which contained devices and equipment, including safety boots, wires, tools, brushes, and solar equipment, were distributed among the participants along with certificates of training completion.

    Among the dignitaries present were the Managing Director of the Abuja Enterprise Agency, Abuja, Mr. Arabi Tukur; the Executive General Manager, CSR, Total Upstream Companies, Engr. Vincent Nnadi; and Honorable Chika Abubakar of the House of Representatives.

    Speaking on the occasion, Nnadi harped on the importance of acquiring skills by the youths to sustain them instead of waiting endlessly for white collar jobs.

    He said: “Total has been at the forefront of the fight against poverty and unemployment. We emphasise capacity building as a way of transforming society and providing employment opportunities for youths. The aim of this programme is to enable the youths be self-reliant in their various trades. We believe that this approach is sustainable and geared towards reducing unemployment in the shortest possible time.”

    Noting that the programme would be extended to other parts of the country, Nnadi urged the graduands to remain focused and to be diligent with their work as the organisation will continue to monitor their progress frequently and give further support to those found to be serious.

    Some of the participants expressed heartfelt gratitude to their sponsors for the training opportunity.

  • Elumelu: Entrepreneurs need infrastructure to thrive

    Founder Tony Elumelu Foundation, Tony Elumelu yesterday advised African governments to  provide key infrastructure that will  make it possible for entrepreneurs to thrive.

    Speaking at the ongoing World Bank/IMF Spring Meetings in Washington D.C, United States on the Digital Economy for Africa, he said the demographics of Africa where over 60 per cent of the population is around 30 years of age  presents opportunities that  have to be tapped.

    “We have 60 per cent of our working population at the age of 30 and we have 65 per cent of our economy in the informal sector. But this presents quite interesting opportunities for digital economy. In my interactions with young Africans, I have seen people who are determined, energetic, hungry to succeed and make a difference and are extremely intelligent, but the environment makes it difficult for them to succeed,” he said.

    Speaking further, Elumelu said one cannot talk about digital economy in Africa without fixing critical infrastructure. “Digital connectivity is a major issue in Africa and you can’t fix it if you don’t have reliable access to electricity. So, if we want to truly address the issue of digital economy in Africa, these challenges have to be fixed,” he said.

    “Secondly is the issue of governance. Governments need to understand that if we prioritise the young ones and make the operating environment conducive, they would be able to optimise the required intellects, they would do well and we would be able to solve some of the problems in the continent.

    “So, regulation is major, intellectual property is very important, incentivising investors are all factors that will help us address these issues. For the entrepreneurs in Africa, I will say lets not look at the challenges, but the opportunities. There are lots of opportunities in the continent and we need to look at these opportunities,” he said.

     

    Lets fix policy issues and all these issues I have identified and investors will come to Africa,” he stated.

     

  • Entrepreneurship: From passion to reality

    It is common that you will find successful entrepreneurs refer to passion as a major factor that contributed to their success. According to the Merriam Webster dictionary, passion can be defined as the strong feeling of enthusiasm or excitement for something or about doing something.

    This brings to mind the question: Is passion enough to break grounds as an entrepreneur? Definitely No. Passion, perhaps, is the foundational requirement that will enable every other factor to deliver maximally.

    It is believed that entrepreneurship is not what you can teach.  People either have it or they don’t. Entrepreneurs are basically individuals who have the ability to identify opportunities where they do not really exist. They have to find something people are willing to pay for, what they need now and they have the money to pay for it.

    Entrepreneurship is a lot like swimming. To be a good swimmer, you have to practice swimming rather than spending all the time reading about how to swim. Therefore, entrepreneurship is a practice thing more than it is theory.

    Driven by a burning passion, entrepreneurs believe so much in themselves even when there are ridiculous odds that it’s not going to work. You have to believe that you are going to make money at the month end, which often you may not.

    You have to believe you can compete with big companies, which you may not be able to. You have to believe you can reach all your customers, which often you won’t.  You have to believe you can produce cheaply and cost effectively and make a profit, which in the early days you probably won’t do. The only thing that will feed you in these trying times is your passion. Most times you end up with no money at the end of the month.

    Steve Jobs once said the only way to do great work is to love what you do. However, transforming strong feelings into reality will require that some steps be taken.

     

    1 Understand your industry and know the local bosses

    Isaac Newton said ‘if I have seen any further, it is by standing upon the shoulders of giants.’ This, in my own perspective, is what I expect every entrepreneur to do before starting out. By local, I mean Nigeria where we reside. It is usual to find young entrepreneurs referring to founders of the big international brands as their mentor with little or no knowledge about the local brands that they are unconsciously in competition with.

    There is no crime in learning from entrepreneurs outside the country, however, the advantage of learning from those within your reach is for one to be able to connect with the reality that exists within your region. Despite the harsh economic conditions in Nigeria, many have broken and many have continued to break new grounds. We should learn from them.

    2 Professionalism in the small things

    Being a professional means much more than wearing a suit and tie or having a university degree. Professionalism has to do with how you conduct yourself in your business affairs. Breaking new grounds will require that the entrepreneur, no matter how small the business is, adopt standard methods of running his organisation. The day-to-day running of your business is what combines together to represent what your brand is evaluated as. The way you deal with your customers, by keeping your word, delivering services and quality.

     

    • Otufodunrin is Creative Director DAMSCO CLOTHING

     

     

  • NFC commences training for entrepreneurs

    Nigerian Film Corporation, last Monday commenced training of about 80 entrepreneurs from the six geopolitical zones of the country in film and television in Jos, Plateau State.

    At the opening ceremony which took place at the National Film Institute, Jos, Dr. Chidia Maduekwe, NFC’s Managing Director said that the weeklong workshop will help participants appraise existing and new developments within the context of broad range of traditional filmmaking techniques and applications in film and television production.

    Speaking on behalf Maduekwe, Prof. Christy Best, Rector of the National Film Institute (NFI), the workshop will offer opportunities for film/television and communication specialists/practitioners to perfectly fit into emerging global trends and best practices as a result of digital revolution.

    The workshop, she said, is designed to incorporate a blended learning approach that combines personal experience, classroom tutorials and practical that will justify the time-period participants will spend away from their organisations, to the maximum.

    “The training workshop is also to address the skills gap in the film industry. NFC, through the series of training workshops designed for the year, some of which will be in partnership with State Governments, other Federal Agencies and Foreign Embassies in Nigeria, is demonstrating its commitment to continuously provide training opportunities that will ultimately lead to domestic and international consistency in capacity and manpower development for film and television production,” she said.

    The target of the training workshop includes youths and will cover, scripting, cinematography, production management, editing, still photography and directing.

    The training workshop ends on Saturday March 17.

  • Foundation to sponsor 50 entrepreneurs

    In its drive to boost entrepreneurship training and productivity among young Nigerians, the Isaac Moghalu Foundation has announced a scholarship for fifty undergraduates of the University of Nigeria, Nsukka.

    This was revealed by the President, Institute for Governance and Economic Transformation and Founder, Isaac Moghalu Foundation, Kingsley Moghalu at the annual public lecture of the Department of Economics.

    Unveiling the University’s new e-learning platform, Moghalu, a former Deputy Governor of the Central Bank of Nigeria (CBN), and guest speaker at the event explained that the scholarship is designed for students to acquire knowledge and skills to address practical challenges.

    “As part of the Isaac Moghalu Foundation’s vision to enable young Nigerians achieve their full potentials through education, empowerment and stimulate social change, the scholarship is an immense opportunity for budding entrepreneurs to build their businesses and investments. The new platform is built on innovation and wealth creation, and we believe that with such initiatives, our country can attain economic transformation and growth that affects the lives of all citizens,” he stated.

  • N500b National Venture Capital Fund coming for entrepreneurs

    Former Central Bank of Nigeria (CBN) Deputy Governor, Kingsley Moghalu, has called for the creation of N500 billion Venture Capital Fund to support entrepreneurship and boost the economy.

    Speaking at the inaugural summit of the Kingsley Moghalu Youth Initiative Summit held at the Aminu Kano Centre for Democratic Research and Development, Kano, Moghalu, who is the Founder of the Institute for Governance and Economic Transformation emphasised the importance of support and funding for small and medium scale businesses, thereby creating a platform for innovation and creativity that can impact the economy.

    “Nigeria cannot keep investing in meaningless policies and economic diversification that cannot be sustained. To boost real growth and Gross Domestic Product that reflects a productive economy, the leaders can change the lives of the average Nigerian by investing in ideas and projects that are productive and can create jobs for others,” he said.

    The former CBN deputy governor also explained that the Venture Capital Fund has to be independent, and should be managed through a public-private partnership.

    “Such fund has to be kept away from politics, and should not be subjected to the federal character or else the initiative is going to fail. Investment through the fund should be based on merit and business ideas can compete globally and boost the economy,” he explained.

    Themed ‘The role of Nigerian Youths in the Quest for Political and Economic Transformation’, the summit was held in collaboration with Towards An Intellectual Tomorrow Initiative, a youth group in Nigeria focused on driving youth participation in governance, policy formulation and economic transformation.

     

  • Entrepreneurs and innovators to watch out for

    Entrepreneurs and innovators to watch out for

    An exciting time lies  ahead for young Nigerian innovators and entrepreneurs with  big and bold business ideas   this year. DANIEL ESSIET reports.

    Nigeria is set  to celebrate entrepreneurship, innovation and disruption across the small and medium enterprises and technical space. This is because the nation is going to witness enterprising entrepreneurs, technologists, company builders and investors that will promote ventures of all sizes from startups to enterprises.

    Passion Incubator( PI) co founder  Olufunbi Falayi is an innovator to watch. He is determined to help Nigerian entrepreneurs turn their visions into reality with the aid of technology, which has shaped virtually every sector: banking, healthcare, transportation, education, agriculture . PI is a technology startup incubator, in Lagos, that  helps early stage founders validate their startup ideas and refine their business model.

    With innovation hubs, having become a mainstay of the entrepreneurial ecosystem, analysts expect some of the  best minds to shine a spotlight on Nigerian tech innovation excellence. They  expect  young innovators and entrepreneurs, to come out from  Co-Creation Hub (CcHub), to  provide  solutions that will  help to change the lives of Nigerians.  In line with this, Facebook will open a “community hub space”  this  year to encourage software developers and technology entrepreneurs. The centre would host an “incubator programme” to help develop technology start-ups, while it will also train 50,000 Nigerians in digital skills. CcHub is billed to play a major role in the project.Last year, CcHub made two moves in May to tap talent and investment abroad. The Lagos-based innovation space launched its Diaspora Challenge in London: a programme that offers up to $250,000 and nine  months of mentorship to startup ventures run by Africans living in the United Kingdom(UK), United States(US) and Europe.

    CcHub operates  its Next Economy accelerator programme and Growth Capital fund, which take equity in early-stage startups while offering business support. The programme is open to businesses in three categories -¯education, fintech, and energy¯with a criterion that their startups “solve a clear problem that affects a large number of people in Africa. An  innovator to watch is Hanson Johnson. He  is Akwa Ibom’s foremost tech entrepreneur and CEO of Start Innovation Hub. The  tech focused hub is based in Uyo. Aimed at stimulating economic growth in the local community, the hub helps tech startups by providing workspaces, internet and power. They also provide seed funding, mentoring and access to business expertise. His efforts have helped place Uyo in the spotlight as an emerging tech city.

    Other  analysts are  expecting  forward-thinking individuals and startup  to  push the boundaries in everything from e-retailing,  agri tech, e-travel, e-education, business incubation , fintech to security and cloud technology.

    E-Commerce Sector

    For stakeholders, the year is going to be an eventful one with more Nigerians  focusing on building their own online stores.  E-commerce is already a thriving industry in Nigeria, especially, Lagos.

    Online platforms such as Jumia, Konga, Yudala, Payporte,Kara, Fashpa, Gloo.ng; OLX; Wakanow, will  push for Internet  customers this year. Despite shrinking purchasing power, retail sales still  sustain the big players while the new entrants  continue to struggle.

    Like the Managing Director, CEO  PayPorte Global Systems, Eyo Bassey Francis, noted, the challenge is finding ways to encourage more  Nigerians to make more online transactions with innovative solutions to boost  online sales, through  trouble-free deliveries and returns.

    A  lot of  young entrepreneurs are  building  and hosting  online stores . There are now  platforms that enable  e-commerce companies and marketplaces to sell to consumers in international markets. Yenne-eMarket, an online trading platform, founded  by  Akan Don Udom, connects buyers and sellers of old and new products and services is a  platform to watch. It was started in 2016, after he resigned from a teaching job, as an errand running service. Currently, it still offers domestic and cooperate errand services such as cooking, cleaning, laundry, babysitting, package delivery among others.The platform connects people with  international admission and flights agents who help people with flight bookings, visa processing, hotel bookings and local logistics for travelers. So many online groups will emerge this year, offering a commodities’ marketplace that connects farmers with customers. Between 2015 and last year, many young entrepreneurs  have  established online platforms which offer to save consumers trips to markets by delivering to their doorsteps  farm produce and food stuff. The platforms operate both web and mobile-based supply platform for customers to order supplies such as vegetables, groceries  and confectioneries.  Specific websites and platforms  will  provide   fertiliser, improved seedlings, agro-chemicals, extension, advisory and disease early warning..

    Hotels.ng

    Hotels.ng founder Mark Essien is an entrepreneur to watch.  Hotels.ng, raised $1.2 million to expand across Africa. Investors include EchoVC Pan-Africa Fund and Omidyar Network.

    Users performed more than a million hotel searches on the site last year, while 70,000 new customers signed up. Hotels.ng’s growth in its home market hinges on two factors: Nigeria’s Internet penetration rate, which is the highest in Africa and still increasing rapidly, and the government’s investment in its tourism industry, which is expected to contribute 5.8 percent of its gross domestic product by 2024.

    Uber alternatives

    Transportation might be a pain in Nigeria. but it is also a business opportunity. Poor coordination  and the deteriorating state of the sector is promoting  private sector  competitiveness in the bid to provide solutions  and  attracting  new businesses. Last year was really challenging  for  Uber,  with rival  service, Taxify, headquartered in Estonia, trying to get  a large chunk of the market  with  its services through  smarter products. The two may remain the major players; however, many transport sub sector specific applications and platforms will be inaugurated with a focus on hard to reach locations.

    Online farmers market

    There is an array of startups that are expected to do great  things this year.

    For instance, Farmcrowdy, a digital  agric platform,having raised $1 million from investors including Techstars, Cox Ventures and Social Capital, will  bring more small scale Nigerian farmers to a broader market . One of the latest entrants is Grain Capitals, a digital platform that gives opportunity to investors  to invest in grain storage.With support from African Development Bank and others, watchers expect the  food ecosystem to receive  a lot of venture funding flowing into the area.

    ThriveAgric

    ThriveAgric acts more like a middleman servicing farmers and individuals interested in investing in farming.For individuals, it allows easy and insured investment with a promise of 23% ROI in less than a year. While farmers get access to the funding needed to embark on their farming operations.

    Since inception last year, Thrive Agric has made notable achievements. The startup claims to have sold out more than 200 hectares of farmland, which is not up to a fraction of the 80 million hectares of arable land Nigeria is blessed with. Also, it was admitted as part of Ventures Platform’s second cohort, which got it $20,000 in funding.

    Fintech

    The lifeblood of the nation’s   emerging and growing  digital marketplace is the presence of  mobile payment solutions that are instant, seamless and  secure. This  has led to the emergence  of payment solutions that  enable seamless payment experience between marketplaces, sellers and buyers. So many fintech companies have birthed, including , Startcredits.com, to provide   online loan marketplace for  entrepreneurs to fund their  start-ups, promoting financial inclusion in the bid to fix the access to credit problems. A fintech  to watch  is Social Lender, a  digital   lending solution based on social reputation on mobile, online and social media platforms.  Social Lender is designed to bridge the gap of immediate fund access for people with limited access to formal credit. Social Lender uses its own proprietary algorithm to perform a social audit of the user on social media, online and other related platforms. Loans are guaranteed by the user’s social profile and network allowing users to then borrow from banks and other financial institutions based on their social reputation.

    One area innovations are expected is in mobile payments with more digital payment platforms growing out of the  challenge of  United States online payment provider, PayPal, not allowing Nigerians to withdraw money from its platform.

    Flutterwave, a payments platform is  making  it easier for banks and businesses to process payments across Africa. U.S. investors  have  invested  $10 million into it. Flutterwave is backed by an impressive collection of VCs: Omidyar Network, Social Capital, Greycroft, Khosla, Green Visor and more.

  • Young entrepreneurs urged to invest in agric

    The Chief Executive Officer, Davichi Farm Tech, David Echegwisi, has challenged young entrepreneurs to invest in agriculture to boost employment generation and meet the growing food gap.

    Echegwisi spoke at the Farmfest 3.0 organised by the company at Inspire Centre in Simawa, Ogun State.

    The event brought together farmers, women groups, cooperative societies, corporate bodies, students, school owners, and agriculture enthusiasts among others.

    He called for increased investment in agribusiness to tackle unemployment.

    According to him, industrialists, including Aliko Dangote, Maduka Cosmas, and Oba Otudeko, are into agriculture because they saw huge potential in the sector.

    He challenged unemployed youths to explore agriculture as there were fewer white collar jobs.

     

  • Credit Direct CEO, others train entrepreneurs

    Credit Direct Managing Director, Akin Ademosu and other stakeholders in the finance industry have trained entrepreneurs on key steps to achieve business growth and success.

    Speaking at the fourth Triple A annual retreat in Lagos, Ademosu explained that success in today’s economy requires that business leaders and corporate entities create positive memories for their customers or partners.

    He shared his over 15 years’experiences on how he turned a business of N200,000 into a company with over 30 branches across the country.

    The event organiser and entrepreneur, Ade Adefemi, said it had remained a forum, which yearly,  brings together people from various sectors to help nurture and expand their ideas.

    The primary purpose of the forum, he said, was to promote Small and Medium Enterprises’ (SMEs) operations.

    Adefemi and others shared insights from the businesses they run and how they have kept them on the cutting edge.

    Another speaker, Cornel Agwu, spoke on personal finance management and improvement. He helped the participants to discover various perspectives on how to increase their finances in the coming year.

    A communications expert, Ifeoma Williams, who spoke on how branding and communications skills can increase the bottom line or the lack of it and subsequently put a business in a precarious situation, however, pointed out cutting edge strategies which individuals or organisations can use to reposition themselves for future growth.

    The event, which had breakout sessions, enabled participants to develop practical approach to business development and growth.