Business and Entrepreneurship

You don't expect Nigeria to come out of recession by wearing that clothes made in other countries when we have our Nigerian made. You don't expect jobs to be available for everyone when you prefer foreign made goods to Nigerian made. You don't expect farmers to keep farming when you import most of the same raw materials they produce. We even import most of the same food we readily produce. Let the next set of things/items you will use be made in Nigeria and we will be on our way to self reliance economically. Change indeed begins with me. Proudly Nigeria.

In as much as I advise SMEs and prospective entrepreneurs to look for grants to aid their business/productions, there is also a need to caution them from applying for every grants. Before applying for any grants, verify the organization issuing the grants. Many web designers today host many such websites to steal people's business ideas. I know many of us are currently subscribed to some websites alerting us about new grants. For the safety of your idea, don't just go through the link on that website, verify the information on Google or better still on the organization's website itself. Many of them end up selling off your idea for personal gains. One has to be security conscious in a country where patency and royalty are still something strange.

Until Nigeria has integrity of policies, our country cannot change!                                  - Benedict Okorie If we say we are banning the importation of any product into Nigeria. It should also come emphatically with duration, say 5 months, 1 year, 5 years or even 10 years. This should also be independent of political party at the helm of affairs. So if party A makes the policy to ban a product for a number of years and party B defeats party A in the general election, party B should also allow that ban until that number of years as pronounced by party A. That's integrity! Anyone willing to go into local production knows the number of years he/she has before the ban is lifted. You will realized that we would have had market leaders before the ban will be lifted. Another aspect of policy I will like government to look into is 'export of raw materials' to other countries with particular reference to agriculture. In my previous post titled 'industrialization i

Over the years, I have tried applying for grants to start up my company. I noticed that I was never shortlisted even though I have somewhat good business. My friends that have already started, however, do get shortlisted. I also observed that some of the questions usually asked includes 'how much have you spent on the business?' ' upload a picture or video of what you are doing' 'list your major competition' among others. The reason behind these questions is majorly to distinguish between those who having started had gained experience from their involvement and those still assuming. Though with a good business plan, you could also win grants but most winners have started something. It's generally believed that those who have started will invest the grants into their businesses while there is a high tendency that those who haven't started can divert the fund. There is also the aspect of managing the funds, it is believed that those who have started have

Many people have always walk up to tell me they can do a good number of the products we import from other countries into the Nigeria market but are scared of competition with foreign products especially price competition. My usual reply has always been start first. When you start and you are zealous, you would end up creating your own market and with time, you will be reckoned with. Don't just assume, try it, the competition may not be that stiff. When you get to involve, some things will become clearer and your decision will be based on facts. Some of your assumption, you would realize are not true while you would be better positioned to grow your business. The next time you find that product you have a skill to develop, don't just get angry, be motivated instead.

As I watch silverbird television the other day, I saw Senator Ben Murray Bruce speaking on why it's important to patronize Nigerian made goods especially now that we are in a recession. Some of what he said includes: Boarding Arik air if we are travelling oversea except for countries Arik cannot access. Instead of importing military clothes and shoes, tailors across the country can be used as well as making the clothes in Nigeria. Use only cars assembled in Nigeria. Buy only Nigeria products Instead of going to London or the USA (thank God Trump is now the President elect. Pray he makes good his threat and send those good brains home to better our lots here), we can decide to visit mabilla plateau or the ubudu cattle range or any other resort around the country. Until we value that leather shoe from Kano, that school/hand bag from Aba, the Naira will find it difficult to survive.

The rate at which so many small businesses close shop in Nigeria is becoming alarming especially in a country that needs all hands on deck. After much research, I discovered that many entrepreneur thinks product development is the key to becoming entrepreneurs, to this I say "it's beyond that." It's good to have a brand but beyond that brand, the market is the crucial thing. Once you have a the market, your product will be in continuous demand. It is good to spend enough time in product development but I advice for greater time in knowing your market. Who are those that needs your product? Where are they currently located? Do you have class difference? Are some questions that readily comes to mind. Be sure you have a market before you start production. It will give you a smoother ride as an entrepreneur and will also help you in early decision making. Don't assume you know your market until you have researched. Don't assume that because you understood the n

I think the best time to correct this motion is now. It is believed that we are in recession because oil prices have collapsed but I disagree. We are in a recession because we have not studied established economies of the world properly. If we have studied established economies of the world, we will understand that none of the established economies of the world advise their citizens to go into primitive agriculture. Instead, they are encouraged to establish industries which will in turn make use of agricultural produce of their country. And where they could not produce enough agricultural produce, they import, add value and return to even the very country they imported from for greater foreign exchange. If our emphasis is to encourage Nigerians to establish industries which readily make use of our immediate agricultural produce and we give them the necessary support such as youwin, Boi etc grants. The other value chain will naturally run themselves. You will have solve many problems

For your Elubo Isu (Yam flour) for Amala. Call +2348151851095 or +2348022799862 to order within and outside Nigeria. Marketers and distributors are also needed within and outside Nigeria, call the CEO on +2348151851095 or send mail to okorieben@gmail.com (response within 24 hours). Thank you for your anticipated patronage.

One of the most important thing to do in business is to study the times. When I talk of studying the time, I mean know when the tides favours your business or when it is waging against it. It also mean understanding when to invest, expand, sell or even buy a new business.

It is good that the clamour for Nigerians to return to agriculture from the Olusegun Obasanjo’s administration of 1976 has been sustained by successive government. However, the problem with most of the call to return to agriculture is that those clamouring for such end with the thought of exporting the agricultural produce, this I disagree with. The question is ‘who are the farmers?’ because most times we want everybody to go back to the farm and if I understand what we are saying we are simply encouraging subsistence farming which from age past have never reduce unemployment or increase government revenue. What types of agriculture should we then do?

over the years, government has come out to give assistance to Nigerian entrepreneurs especially the SMEs but it seems the employment rate, the import rate continue to be on the increase. somebody may ask why? The reason is not far fetch, only 10 % of such interventions made their way to the manufacturing sector, most goes into marketing and other services. For any country to however reduce unemployment and importation rate, the chunk of government investment should go into the manufacturing sector. the government should also protect that sector with utmost jealousy. It is time to take the bull by the horn and do the needful until every job seeker in Nigeria gets job. Government officials especially the President and labour minister should also visit our seaports to verify the goods we bring in. If they can be produced here then they are not suppose to be brought here, simple. 

A Nigerian musical icon, Late Fatai Rollingdollar sang his first and hit album at over 75 years, in fact some of his teeth were obviously missing. had he sang the song at a lower year, nobody will be willing to buy it. At that age, he succeeded in creating a niche for himself against the tensed competition of younger generations.

 Are you a young or promising entrepreneur who wants some business grant as well as some mentoring, this is the best offer. It will end on 01-03-2016. Do well to apply. www.tonyelumelufoundation.org/teep‎  

You may simply be among those saying that the investment in the SMEs in Nigeria has not shown any proportional effect and therefore should not be adequately funded. Obewe Nwachinemere has this to say: