Tag: Entrepreneurs

  • Trump pledges $50m for female entrepreneurs

    Trump pledges $50m for female entrepreneurs

    U.S. President Donald Trump promised 50 million dollars to a World Bank Fund for female entrepreneurs in the developing world during the Group of 20 summits in Hamburg on Saturday.

    The fund would “transform millions of lives, millions and millions,” Trump said, praising women with entrepreneurial spirit and joking his business career would have been more challenging if there had been more female competitors.

    “When more women participate in the workforce, there will be a lot more competition for people like me,’’ he said, while noting the power of entrepreneurship to lift people out of poverty.

    The programme would help women in developing nations gain access to finance, markets and networks to start new businesses.

    “The U.S. will serve as a founding member,’’ the White House said.

    German Chancellor Angela Merkel had enlisted Trump’s daughter, Ivanka Trump, to advance the effort.

    The president said he was proud of his daughter’s work, adding that the fact he is her father “might be the only bad thing she has going.”

    “Empowering women is a core value that bonds us together,’’ Trump said, who came under fire during his presidential campaign for his past treatment of women, including misogynist remarks.

    He often retorted that he had helped women advance their careers within his company.

     

     

    dpa/NAN

  • Obiano woos entrepreneurs, says ‘Anambra now safest, investment haven’

    Obiano woos entrepreneurs, says ‘Anambra now safest, investment haven’

    Governor Willie Obiano of Anambra says his administration has transformed the state into a haven for genuine investors.

    Obiano spoke during the commissioning of a multi-million naira Stanel Oil multi-purpose facility on Friday in Awka.

    The governor said that his administration had created the enabling environment that would give investors and the people the prosperity and progress required to drive any successful venture.

    “All we have done is to catalyse the process for businesses to grow. We are waiting for you to lend a hand to the building of a new Anambra State.

    “We want to reassure our numerous entrepreneurs who are yet to remember the state in their investment plan that Anambra is now the safest state in Nigeria and we have established a strong foundation for economic and industrial growth.

    “It is also widely known in the investment community that the Anambra State Investment Promotion and Protection Agency (ANSIPPA) makes the process of investing in the state seem as easy as a walk in the park”, the governor said.

    He urged the people to heed the call to invest at home, pointing out that Anambra would witness more development if more indigenes do so.

    Obiano said the state was happy with the Managing Director of the firm, Mr Stanley Uzochukwu, for investing in the state.

    “This piece of investment has created more than 500 direct and indirect jobs,’’ he said.

    Uzochukwu thanked the governor for his interest in the development of the state and assured that he would expand his business interest in the area.

     

    NAN

  • NITEC 2017: Top ‘take aways’ for Startups

    NITEC 2017: Top ‘take aways’ for Startups

    The Nigeria International Technology Exhibition & Conference (NITEC) 2017 focused on especially startups is one of the best technology events to happen this year in Nigeria.

    NITEC is a yearly event that features experienced speakers with robust knowledge of the tech industry. It is specifically designed to showcase the best of the technology ecosystem and discuss key issues in tech and innovation. The maiden edition was held last year at the Civic Centre in Victoria Island, Lagos.

    The focus of the 2017 edition, being the second edition, was on the future of big data, analytics and applications for small and medium enterprises (SMEs) development.

    The edition, which held today at the Sheraton Hotels Ikeja, Lagos, featured sessions that included disruptive areas in technology such as digital media, artificial intelligence (AI), big data, robotics, Internet of Things (IoT), hardware, and etc.

    From the various sessions that held, here are the top ‘take aways’ for SMEs.

    • Current statistics as presented at the NITEC 2017 event reveals that there are about 20 million SMEs in Nigeria.
    • One of the best take aways from NITEC 2017 is that challenges of global and local economies are not killing businesses; rather, the challenges are making businesses define new objectives. Also, customers now define how they need to be served. Putting these together, companies are now designing how to better serve customers by using specialized tools.
    • The conference also goes a long way to show businesses must be able to maximize the power of cloud computing, as given the explosion of technology, big data now demands businesses use cloud computing and analytics to provide cognitive solutions to business problems. The growth of data is so high that technology needs to expand to be able to accommodate the growth.
    • SMEs are advised not to use past or present business models because the business model of the past is broken and won’t work today. SMEs should look for models that would be able to cause disruption in the economy. When disruptions occur, existing businesses should look to identify what and who is causing the disruption, and prepare to cause disruption as well.
    • Startups must understand that business comes first before technology – technology is the enabler. Most importantly, SMEs must understand the business of technology in order not to go obsolete like Nokia and Blackberry that have been forced to identify and foray into other business models. Technological innovations drive businesses, and a new business model could cause a revolution in the tech ecosystem that can cause a total disruption.
    • Does afroskepticism still matter today? But, the fact that a business model is African doesn’t mean it necessarily won’t work.
    • Startups seeking funding should learn to spend little at the onset and spread cost over time. Entrepreneurs must understand that the value proposition of a startup must make sense in order to get the much needed startup funds.
    • Technology solutions are most times basic and free.
    • Startups must understand the power of engagement. Startups cannot win without engaging employees, clients or customers alike, in one way or the other.
    • Businesses need data to make informed decisions.
    • An organisation must know when to reinvent itself.
    • Silicon Valley is good, but Nigerian startups must learn to study India and the Asian guys.
    • Nigeria needs a technology master plan, and a deliberate policy to drive technological innovations in the country.
    NITEC 2017: Top ‘take aways’ for Startups
    L-R: Mr. Dipo Faulkner of IBM Nigeria, Mr. Tunde Coker of Rack Centre and Mr. David Okeme of Remita.

    The event was well attended by top industry players to include the Vice Chancellor Prof. Benjamin Chukwuma Ozumba, who is transforming the University of Nigeria Nsukka into a Smart University; the Chief Executive Officer (CEO) of ‎InfoSoft Nigeria, Pius Okigbo, who is at the forefront of driving policies that will ensure technological innovations thrive in Nigeria; the Country General Manager of IBM Nigeria, Dipo Faulkner, who is driving a tech innovation known as Watson across Africa, and Tunde Coker, who is driving something big at Rack Centre.

    >>See more photos from the event

     

  • Invest in agriculture, not estates, Dogara urges entrepreneurs

    Speaker of the House of Representatives, Hon Yakubu Dogara, has urged entrepreneurs in Nigeria to invest resources in mechanised farming in Nigeria, saying that it is not in doubt that it will generate revenue for the country and bring the needed foreign exchange to move the economy forward.

    Speaking when he visited Integrated Dairies Limited in Vom, Plateau State, Dogara said owners of land and capital should look beyond building of estates for rent and move into agriculture where they can provide employment while generating wealth.

    He said, “I want to call on other entrepreneurs in Nigeria, especially those who have capital in hand, to take to mechanised farming and for most of our businessmen who think that the only way you can make money is through rent seeking to now see this as an example where you can add value to peoples lives and our nation’s economy.

    “If you look at milk produced in Nigeria, if we continue to depend on imports, that will deplete our forex in the sense that we have to contend with a situation whereby we always apply for forex to be able to bring in these products,” he added.

    He also noted that agriculture can only contribute meaningfully to economic growth in Nigeria when it is mechanised, as “there is no way we can compete in the global space without mechanised farming.

    Earlier, Air Vice Marshall Ishaya Shekari (rtd), who runs the farm, which produces Farm Fresh Yoghurt, urged the government to provide land for farmers under ownership basis, saying it will make them feel more secure.

    Thanking the Speaker for his interest and support for agriculture, he said, “this is a direct invitation for others who are involved in agriculture to come and see the little that we are doing here so that perhaps they will appreciate it and give us the necessary support. The things we put in the ground here, we certainly don’t want to put them and just, one day, be asked to move out. So that is why we want more ownership.

    “We hope we will be given the opportunity to have more ownership of the land. We have written the minister of Agriculture in this regard.”

  • FG determined to create enabling environment for entrepreneurs – Osinbajo

    FG determined to create enabling environment for entrepreneurs – Osinbajo

    The Acting President, Professor Yemi Osinbajo has said the President Muhammadu Buhari led Federal Government is committed to make Nigeria a haven for entrepreneurs willing to do business in the country.

    Osinbajo made the disclosure at the media launch of MSME clinics at the Presidential Villa, Abuja on Tuesday.

    In a statement signed by his Senior Special Assistant on Media and Publicity, Laolu Akande, and made available to TheNewsGuru.com, Osinbajo recalled how the President sometime in July 2015 spoke to him about the frustrations of those who do business with government agencies.

    Osinbajo revealed that Buhari gave an instance where a Non-Governmental Organisation, NGO, “wanted to install a cancer screening equipment donated by a friendly government several years ago, and it took 7years to finally install it.

    “He said how does the economy function when government agencies are prepared to deliberately or unwittingly frustrate economic agents.”

    The number two man explained that such attitude informed Buhari’s decision to set-up the Presidential Enabling Business Council which was aimed at creating a conducive environment for business people.

    The statement reads in part: “Not surprisingly, one of the early initiatives the President took in 2015 was setting up by a Presidential order, the Presidential Enabling Business Council with the sole objective of creating an enabling environment for business and commerce. Only a few months ago, in a discussion about Made in Nigeria products, the President again drew my attention to the problems that small manufacturers had with just getting required approvals for their products.

    “Incidentally also just before that discussion I had toured exhibitions organized for MSMEs to signal support for the men and women who run such enterprises and also to gain an insight into their expectations and concerns.

    “I was frankly taken aback on one such occasion, when all I got at nearly every stand were complaints about the difficulties that small businesses were facing in their interactions with various regulatory agencies. Some small manufacturers said they had to hire consultants to take them through an approval process and it still took over a year to get approvals.

    “Just yesterday at the quarterly business forum with the Organised Private Sector, one of the participants again complained loudly about the near impossibility of getting approvals expeditiously.

    “This was a disturbing finding because it meant that our agencies were yet to buy into a major pillar of our economic recovery plan which is to make it easier to do business in Nigeria. It was also an indication that we needed to do something to change the orientation of our various agencies. “Instead of being merely revenue generating agencies, the various agencies must see themselves as facilitators of business first.

    “How then do we, as government and regulators, deal with this problem? The failed method is to seek to intervene with individual agencies to solve the problem of individual MSMEs. This approach is clearly limited given the large number of MSMEs in the country and the fact that it would not contribute to our strategic commitment to improving the business environment across the entire economy.

    “Working very closely with the Ministry of Industry, Trade and Investment, we came up with the idea of MSME Clinics as one important building block in finding solutions.

    “This term was chosen deliberately to reflect three things, all borrowed from the health sector.

    “The first is that individual MSMEs face problems that can readily be addressed through direct access to the relevant official.

    “The second is that direct consultation with such a fairly senior expert often helps in finding a solution.

    “The third is that a reasonably large number of people can be attended to without the need for expensive and time consuming travel to agency offices. In other words, great benefits could be reaped from exploiting economies of scale.

    “We will accordingly be bringing all key Federal Government agencies with whom the MSMEs interact together in one place so that small businesses can consult with them directly and obtain solutions on the spot. The MSME Clinic will also serve as a one stop shop for those businesses that need to speak to more than one agency. Given the size of our country and the dispersion of MSMEs, it is evident that the MSME Clinic must go round the various states and to key MSME locations.

    “We have therefore brought State Governments on board. This is because they have a better understanding of their local environment and also because they have a key role to play in making life easier for small businesses. In other words, we expect that state government agencies will also imbibe and contribute to achieving the attitudinal change of supporting small business instead of making life difficult for them. We also count on state governments to help mobilise MSMEs to take advantage of the clinic when it comes to their respective states.

    “And I must thank their Excellencies, the governors of Abia and Kwara states for their demonstration of commitment to this project.

    “It is apposite at this point to stress that this is an exercise that the President attaches great importance to. While the attitude and commitment shown thus far by the relevant agencies is quite commendable, I must stress that our interest is on achieving the desired results.

    “The performance of agencies will be tracked by the number of solutions provided to MSMEs who visit their stands. In other words, it is the MSMEs themselves that will report on whether or not they got the desired assistance from participating agencies.

    “Let me be clear. This programme is not intended for agencies to go and give lectures on their processes. It is also not about self-advertisement and it definitely is not intended to create another set of ‘road blocks’. It is important at the same time to explain that the idea is not to cast aside regulations and processes put together for societal good but rather to cut red tape and make it less onerous for small businesses to comply with such rules.

    “I want individual heads of the various agencies to ensure the success of this endeavour and I expect that they will pay close attention to the participation and performance of their agencies. A first step in this regard, would be to ensure that those assigned to participate in the Clinics are of sufficient seniority to make decisions and solve problems. It would also be good where possible for Chief Executives to visit some of the MSME Clinics to get a personal sense of how things are going.

    “I will personally attend a number of the MSME Clinics in various parts of the country. Apart from showing the importance attached to the Clinics, it is also an acknowledgement of the great interest that nearly all governors contacted thus far have shown in the MSME Clinics.

    “I wish to thank all of them and the various ministers and heads of agencies who have contributed to articulating the concept and making necessary arrangements to convene the Clinics. I also wish to thank USAID which has lent its support to the process.

    “I have no doubt whatsoever that if we continue to work closely together on this initiative, we will bring about a better business environment in our country, especially for MSMEs.”