Startups
Small business ownership: Options for employees
Salary at best should serve as a mere solution to urgent needs, says Engr Ifeanyi Aniagoh, Senior Special Assistant to Governor Willie Obiano on Youth Development and Digital Entrepreneurship, in Awka.
In his lecture at the National Union of Electricity Employee (NUEE) 2-Day Training Workshop Themed “Post Privatization of Electricity Sector and Leadership Skill Development” held at King David Hotels, Engr. Aniagoh reminded the Electricity Workers that these needs always increase against the salary that is seldom increased.
And regrettably, the present salary scale in our dear nation does not serve our urgent needs.
Here are other quotes by Engr. Aniagoh
- Majority of our citizens are unemployed; many under-employed and others underpaid.
- Thus, we face the challenge of first augmenting our salaries to solve our urgent needs and then make extra income to handle other needs and take care of our wants.
- Therefore, you cannot meet your financial needs with salary alone; you need more than one hook to catch the millions of fishes in the sea.
- Salary is like a treatment for managing poverty but the cure for poverty is investment.
- As a salary earner you must learn the art of converting a part of your pay to investment.
- Unfortunately, with recession and inflation, the value of the salary surfers more devaluation and depreciation leaving many hopeless.
- What’s the way forward? … Owning Small Business; What are the options for employees? Becoming a Digipreneur?
- Small business could refer to any profit yielding venture usually not too expensive to start or manage but also not too cheap regarding our economic situation.
- Features of a standard small business include: ownership; structure; few or no employees; business name; sales; turnover; profit; etc.
- To own a successful small business, you must look out for the business opportunities around you.
- A business opportunity exists when there’s a sufficient market for a particular product or service.
- Don’t start a business simply because you have got an idea because a good idea is not necessarily a good business opportunity.
- You may have a great product or service and yet the market may not be ready for it.
- You could have a sound business idea but the level of competition would be too high for you to break in and the required resources would be out of your reach.
- Sometimes, there might be a ready market for your business idea but the return on investment won’t be acceptable.
- You must do a market survey to establish the right business opportunity for your business idea.
- Findings and experience show that over 80% of new businesses fail. So, be ready to walk over the edge, no matter, the number of times.
- A good business opportunity must indicate Real Demand; Good Return On Investment; Mutual Competitiveness; fit your Objectives; be serviceable by your Skills and Resources; etc.
- You can see a good business opportunity when you observe: Market Vacuum; poor Quality Products and Services; Overpriced Products and Services; Monopoly; increasing Demand; new and improved Technology; and alternative Raw Materials.
- In Nigeria of today, a lot of business opportunities exist in Agriculture; Solid Minerals; Hospitality and Tourism; Telecommunications; Fashion;
- In all these opportunities, you have the choice of starting big or small… In either way, you can grow out to become the biggest.
- But you must avoid a few factors that make new businesses fail, especially small businesses.
- When you are making little or no profits, don’t be discouraged particularly in the gestation period.
- Maintain proper accounting and record keeping… It’s a must to separate personal issues from business affairs.
- Don’t be over ambitious but maintain the highest level of confidence and don’t compromise good attitude… Attitude is everything!
- Naturally, as salary earners, you source fund from Personal Savings; Loans; and special venture packages.
- But your salary is so low; no easy access to loans and employers aren’t coming through with alternate funding opportunities.
- Except ndi Anambra who enjoy the privilege of having Anambra State Small Business Agency; other Nigerians find it difficult to startup and when they do, they hardly stay in business due to lack of funds.
So what next?
- While you obey the basic rules above to invest in small businesses to augment your salary, you can do better by becoming a Digipreneur.
- Everything you need is already around you except the right orientation and the use of creativity already inherent in you.
- A Digipreneur is a Digital Entrepreneur… An Entrepreneur that plays on the digital space or applies innovation to an existing enterprise.
- In search of business opportunities, look out for a challenge in the society and think of how to solve it while making profit… By this, you are an entrepreneur!
- Start using your gadgets to solve these challenges; add innovation to businesses you already doing… You are then a Digital Entrepreneur; a Digipreneur. So, with your handsets and Social Media presence, you can start “a thousand and one” new small businesses as well as use them to improve on your current ventures.
- If you all become Digipreneurs, your success will reduce pressure on the economy; you will create more jobs and more people will live better and longer.
- Summarily, small business ownership is a vital option for you to augment your salaries; to take care of your needs and to satisfy your wants. Most importantly, it’s better you become a Digipreneur… Do so now and secure your future!
Africa is rapidly becoming a hotbed for innovation, entrepreneurship, and technological advancements.
Yet, for many startups and talented individuals, the journey from concept to market traction and revenue is often fraught with challenges.
Enter the Startup and Talent Enhancement Program (STEP), a pioneering initiative by IDEA Africa, with support from the UK-Nigeria Tech Hub. STEP is not just a program; it’s a transformative force empowering startups and talent across Africa to scale up and achieve sustainable growth.
The vision of STEP is simple yet profound: to bridge the gap between potential and success for startups that have moved beyond the post-revenue stage but are struggling with technical debt, growth hacking, marketing, and other critical areas. How? By giving them access to a large pool of professionally trained talent, strategic market advice from industry experts with years of experience, and a community with like-minded people and fellow founders. By providing targeted intervention and strategic resources, STEP ensures that these startups are not just surviving but thriving.
STEP’s approach is holistic, providing support in multiple areas crucial for startup success. From offering technical assistance, helping startups overcome technical debt and improve their product offerings to providing growth hacking strategies and tools to drive rapid growth and scale operations, to offering marketing insights and resources to effectively market products and reach the right audience and also assisting startups in developing robust business strategies that ensure long-term success.
STEP is committed to empowering individual talent and helping mentors attain fulfilment. By connecting skilled professionals and experienced mentors with high-potential startups, STEP not only helps these individuals find meaningful work and fulfilment but also fosters a culture of innovation and collaboration. This creates a dynamic ecosystem where both startups, talent and mentors can thrive.
To maintain the quality and impact of the program, STEP employs a rigorous selection process. Startups are evaluated based on their growth potential, market fit, and alignment with STEP’s objectives. This ensures that only the most promising startups, ready to embrace transformative changes, are chosen. The result is a cohort of high-potential startups primed for success.
Why STEP?
We are not just another initiative, but an organisation committed to transforming lives and businesses. We believe in the power of local startups to drive economic growth and create jobs. With tailored support and resources, we help you overcome challenges and reach new heights. Also, we provide comprehensive talent and mentor support, connecting you with skilled professionals who can help take your business to the next level. At STEP, we are dedicated to the professional growth of individuals. Through our program, selected talent will receive upskilling opportunities and access to job placements that match their skills, ensuring a bright future for all.
Application Details:
Key Dates:
- Application Period: July 22nd – August 31st, 2024
How to Apply for Startups, Talent and Mentors:
- Click www.steptech.ng
- Select your track
- Create an account with us
- Verify your email
- Log in to start your application
How to Apply for Hubs:
- Send a mail to [email protected] with “Hub Application” as the subject
Join STEP in Transforming the Startup Ecosystem
We invite all innovators, from startups to mentors, talent, and hubs, to join us in this exciting journey. STEP is your opportunity to make a significant impact, drive innovation, and contribute to the growth of the startup ecosystem in Enugu, Rivers, and Ekiti states.
“Scaleup with STEP” is not just a call to action; it is a testament to the potential and resilience of African startups and talent. By providing targeted support, fostering connections, and driving innovation, STEP is paving the way for a brighter future in Africa’s tech landscape. Join STEP today and be a part of this incredible transformation.
Join the Community
Stay connected with us on LinkedIn, Twitter, Instagram, and Facebook for updates, success stories, and live Q&A sessions. One of the most vital parts of STEP is the community that we are creating. By joining STEP, you join a community of like-minded innovators, tech enthusiasts, and industry experts. This community is a place to collaborate, share experiences, and form long-term connections that can help your startup grow.
Follow STEP’s innovative and exciting journey on social media platforms @steptechnigeria on Instagram, Facebook, LinkedIn, and X.
For more information, visit the website or contact the team at [email protected].
About IDEA Africa:
IDEA Africa is a leading organization dedicated to fostering innovation and entrepreneurship across Africa.
Through various initiatives and partnerships, IDEA Africa supports the growth of startups and the professional development of talent, driving economic growth and technological advancement in the region.
2023 was a groundbreaking year for growth marketing, where innovation, data-driven strategies, and visionary leadership came together to set new industry benchmarks.
Recognizing this era of transformation, Growth Marketing Leaders Network (GMLN) unveils its list of Exceptional Nigerian Growth Marketers for 2023.
These individuals distinguished themselves through groundbreaking strategies that not only propelled tech and business solutions but also redefined how products and services are marketed and embraced globally.
Their remarkable ability to adapt, innovate, and deliver impactful results amidst economic challenges highlights their resilience and dedication.
These growth marketers have set a high standard, influencing industries across Nigeria, the UK, the US, and beyond, and leaving a lasting mark on the global marketing landscape. This list contains:
1. Abimbola Ogundiran
As the Deputy Director at Playhouse Communication, Abimbola has been instrumental in crafting campaigns that resonate with Nigerian tech consumers, promoting Playhouse’s tech-related projects with creativity and impact.
2. Stanley Osuozah
As Co-Founder and Growth Lead at Unideals, Stanley Osuozah has leveraged data-driven strategies to enhance user acquisition and engagement, driving measurable growth in student-focused marketing.
3. Ized Uanikhehi
Serving as the CEO and Founder of Zedi Africa, Ized’s focus on sustainability and digital inclusion has led to campaigns that not only market tech but also address societal needs, significantly impacting Zedi Africa’s footprint in the tech sector.
4. Ololade Otusanya
As the Digital Marketing Manager at MTN Nigeria, Ololade has spearheaded innovative digital campaigns, enhancing customer engagement and driving the brand’s digital presence to new heights.
5. Daniel Chukwu
As the Digital Lead at Yellow Brick Road Lagos, Daniel has orchestrated creative digital strategies that have driven client success and elevated the agency’s reputation in the industry.
6. Khadijat Durosinmi
A Nigerian tech marketer, Khadijat has been recognized among global marketing influencers, highlighting her significant contributions to the field. Her innovative approaches and impactful strategies have earned her a place among the top marketing influencers globally.
7. Bukayo Ewuoso
As a Product Marketing Manager at Eskimi, Bukayo has developed targeted marketing strategies that have expanded the company’s reach across various demographics, contributing to substantial growth in user engagement.
8. Jelil Adedoyin
Serving as the Digital Marketing Manager for Sub-Saharan Africa at Reckitt, Jelil has led impactful campaigns that have increased brand awareness and market share across multiple countries in the region.
9. Adams Adeleke
A distinguished Nigerian Business Analyst and Product Expert, Adams has led transformative projects across Africa, Europe, and the UAE in sectors like banking, fintech, energy, and e-commerce. In 2022, he co-founded Leenit, a London-based EdTech marketplace empowering professionals to share knowledge through training and mentorship, benefiting over 1,000 learners from the UK and Nigeria.
10. Ebube Victor Okechukwu
As the Head of Social and Digital Media at United Bank for Africa PLC, Ebube has driven innovative social media strategies that have enhanced the bank’s digital footprint and customer engagement.
These exceptional growth marketers have not only navigated but have actively influenced the marketing landscape in 2023. Through their innovative strategies, they have set new benchmarks, driving awareness and adoption of technology across industries in both Nigeria and beyond. The recognition of these top 10 professionals celebrates visionary leaders who have skillfully adapted to the evolving marketing landscape, making lasting contributions that continue to shape the future of the industry.
Startups
Heifer Announces Three AgriTech Innovators as AYuTe Africa Challenge (Nigeria) Winners
As a result, the competition will increase visibility for growth and improve smallholder farmers’ productivity.
Three young agric-tech innovators in Nigeria have emerged final winners of this year’s Agriculture, Youth and Technology (AYuTe) Africa Challenge Nigeria, an enterprise development program initiated by Heifer International to identify, nurture, and support innovative, relevant, and technology-driven agric-centric enterprises that grow, scale and help smallholder farmers to thrive in Africa.
Announcing the winners in Lagos on Wednesday, November 30 at the Grand Finale of the keenly contested Challenge that saw well over 600 entries, the Country Director, Rufus Idris said the newly introduced annual challenge in Nigeria serves as a springboard for identifying outstanding young agritech innovators, as well as assisting in the formation of strong partnerships.
As a result, the competition will increase visibility for growth and improve smallholder farmers’ productivity.
Ifeoluwa Olatayo, the Managing Director, Soupah Farm-en-Market Limited emerged the grand prize winner for the maiden edition of AYuTe ‘s competition in Nigeria having met all requirements to get the topmost position. She got $10,000 grants as the overall best at the conclusion of Heifer Africa AYuTe’s Challenge to expand her business initiatives in the agriculture value chain.
The second runner’s -up, Rejoice Usim, the Chief Executive of Simkay Foods Limited got $6,000, while Stephen Obe, the CEO of Evet Technology got $4,000 grants to emerge the third place winner.
The winner, Olatayo described the impact of her innovation at Soupah Farm-en-Market Limited thus: “Basically, we connect rural smallholder farmers to urban markets by using short code as a procurement interface. So, rural smallholder farmers will no longer market agriculture produce through middlemen – they will communicate with us directly to collect their produce while we sell to large off takers. Majorly, we are improving the livelihood of the smaller farmers because we buy their farm produce at better prices of about 50% higher than the typical traditional markets”.
She urged youths to engage and think of how to use technology to better the lots of young farmers and boost food production and supply. “I encourage other youth techies to look for those problems within the agriculture industry and solve them with the use of technology to scale faster and grow bigger”,
“The grant will majorly be a benefit to our local farmers. It will also create a supply chain system for them in terms of purchase, storage and selling in a way that it makes them make higher profits than they are making at the moment” she said.
The national competition represents a new phase of Heifer International’s AYuTe Africa Challenge, established in 2021 to award cash grants annually to the most promising young agritech innovators from across Africa. Like the Regional Champions competition, the AYuTe National Champions competition offers prize money and mentorship, helping translate the energy and ideas of young Nigerian agritech innovators into meaningful impact for smallholder farmers across the country, and supporting winners to grow their businesses and profile.
“More than half of our population consists of young people and with inflation skyrocketing, fueled mainly by food inflation, we’ll need the youths with energy, tech-savvy, and entrepreneurial skills that can be channeled to transform the agricultural sector,” said Rufus Idris, Country Director, Heifer Nigeria.
Presenting the awards and the grant to the finalists, Heifer Nigeria’s Country Director, Rufus Idris, said that “We are excited to announce a starting cash grant of $20,000 to the most promising young agritech innovator in Nigeria. This is in line with Heifer’s strategic goal of unleashing the hidden agricultural treasures among African youths.
“We strongly believe that the new ideas and technologies by this Africa’s tech-savvy youths discovered in this competition will help to convert the huge potential in agriculture to economic growth and employment across Africa while transforming the sector.
“Through this challenge, we hope to further inspire the Nigerian youth population to continue to embrace agriculture as a career option of choice, while promoting creative professionals that are using technology to re-imagine farming and food production across the country”, said Idris at the close of the competition.
Since 1944, Heifer International has worked with more than 39 million people around the world to end hunger and poverty in a sustainable way. Working with rural communities in 21 countries in Africa, Asia, and the Americas, Heifer International supports farmers and local food producers to strengthen local economies and build secure livelihoods that provide a living income.
The event brought together stakeholders within the ecosystem including government representatives, tech hubs and agripreneurs, who are relevant to supporting the development and scale-up of innovative, commercially viable and sustainable agricultural technologies, capable of transforming Nigeria’s agricultural sector and her food security.
The keynote speaker and Lagos State Commissioner for Agriculture, Ms.Abiola Olusanya who was represented by the Director of Agriculture Training Institute, Mr Emmanuel Fatai Audu, said that “At every point in time, there is always a demand for food in Lagos State. Food worth N9 billion is consumed every day. If we can expand that across Nigeria and Africa, that tells you the immense potential that the food value chain brings to the table in terms of economic gains to value chain outburst, especially our youths here today. He encouraged the youths to go into Agriculture as it is the next oil.
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