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Entrepreneurship and Job Creation in Nigeria and Africa as a whole.

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Small businesses are often called the backbone of the economy. Policies that encourage the growth of small businesses and the role of entrepreneurship in the market are considered to be healthy for the economy at large.
Entrepreneurship is a veritable source of employment and wealth creation for Nigerians who desire to create wealth for themselves by starting a business of their own and nurturing it to maturity. A business empire can be created by starting small and working hard enough to maintain the business and making it grow through various stages. Many big companies in Nigeria today started small many years ago and their founders were committed in their pursuit and persevered until the businesses grew into world class brands. Despite the challenges, Nigeria is a beautiful place to do business that any entrepreneurial minded person can succeed in business if they are willing to start something no matter how difficult it may seem at first.
The most difficult aspect is in…

What is Working Capital?

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If you’re a small business owner, you probably had an idea of what your business would be before you even began. All you’d have to do is sell something or provide a service, and the customers would come. If only it were that simple! Instead, you probably found yourself having to learn about a whole bunch of new concepts and processes as well. One of the terms you’ve probably heard getting batted around is “working capital.” What does that even mean, and how does it affect your business? Here's What It MeansIf you take your business’s current assets, and subtract your current liabilities, you’ll have a number that may be positive or negative – that’s your working capital. Another way of looking at it is to say that working capital is how much in liquid assets you have available for expansion and growth. Your assets could be everything from the amount of cash is in your business accounts, to any equipment or facilities you own free and clear, to long-term loans, to your inventory. Al…

Entrepreneurs: The Sportsmen and Women of the 21st Century.

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For much of the 20th century, athletes were pop culture icons. Athletics helped to bring people together from different ethnicities, classes or backgrounds. Everyone could cheer for a Jackie Robinson home run or acknowledge the brilliance of a Sandy Koufax pitch or a Pele roundhouse kick. But, has something happened to the myth and legend of the traditional athlete or did something else take its place instead? According to a survey of 172 high school students by Millennial Branding and Internships.com, when asked what they wanted to be when they grew up, an astounding 72 percent of respondents said entrepreneurs! Yes, "entrepreneur" has become the profession and passion for the world's global youth and the hope for the future of many burgeoning market-based economies around the world. Names like Ma, Benioff, Bezos, Page, Brin, Buffett, Bogle, Musser, Jobs, Schwab, Johnson, Ellison, Gupta, Lauder, Blakely, Franklin, Ford, Winfrey and Branson are as diverse as they are bril…

US Ambassador to Nigeria urges Nigerians to invest more in Entrepreneurship for Economic Growth.

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The US Ambassador to Nigeria, Stuart Symington, on Monday urged Nigerians to always invest in entrepreneurial development in order to promote meaningful economic growth in the country. Symington gave the advice while addressing participants at the one-day forum to commemorate the Global Entrepreneurship Week (GEW) organised by the US Embassy and LeadPreneur, an NGO, in Abuja. GEW is an international initiative established in 2008 as a result of enterprise week in United Kingdom and entrepreneurship week USA 2007 to encourage young people participating in entrepreneurial ventures.
The envoy said that the call had become important because entrepreneurship was an economic concept that could be used to encourage people to develop and manage business and other ventures. According to Symington, Nigeria is a strong nation, but the government alone cannot provide all the services required to grow its economy, therefore, the need to invest in entrepreneurial ventures. Symington said: “If there is a…

REASONS WHY ENTREPRENEURSHIP SHOULD BE A CORE IN SCHOOL CURRICULUM.

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I am indeed pleased to be here today, in such distinguished company. I am always delighted at every opportunity to return to Anambra, not only because this is my home and my root, but, also because it was in Anambra that my values were shaped and my path in life well defined. So this is more than a home coming for me, as it not only connects me with my people, but with what drives my passion – a celebration of excellence in academics generally, and particularly in the field of my entrepreneurship endeavour – Science and Engineering. By the conferment of this honourary doctorate degree on me, you have defied the popular maxim that a prophet is with honour except in his own country, and among his own kin. I am humbled that I have been found worthy of honour among my people; among kit and kin. What’s more – this recognition is from the great citadel of learning – the Chukwuemeka Odumegwu-Ojukwu University. Beyond the glitz of the podium and the hallowed stage on which this honour is pre…

Key Steps to concider before taking the BOLD Entrepreneurship move

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Consider these 10 steps before making the big-boy move to the world of entrepreneurship. As an entrepreneur, you wear many hats — visionary, technician and manager. But you must not let the hustle and bustle of your business steer you away from having a solid financial foundation. Showing discipline with your personal finances will strengthen your success with your business finances. A few basic initial steps can be taken when making the transition from employee to entrepreneur. In addition to creating a business plan, you need to begin by figuring out the expected expenses for your particular field. There are also some common expenses for which you can prepare, such as fees to incorporate, costs of bookkeeping software and various forms of insurance you may be leaving behind with your former job. Next, create two spending plans: What your expenses and cash flow look like today, versus what they may look like when you start your company and are living off reduced income and savings. …

Number of Businesses owned by Women of Colors is massively increasing.

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Last year, her friend Trishona Helm was visiting L.A. from their native Omaha and snapped Caldwell a picture of rolledice cream--which is rolls of ice cream placed vertically in a cup, finished off with various sweet toppings.  Helm's response: "Let's bring it to town. No, I'm serious."  In August, they invested $10,000 of their savings and a $30,000 loan into launching Mixins Rolled Ice Cream in downtown Omaha. By the end of October, the business had generated $100,000 in sales--and Caldwell is already planning to create a rooftop ice cream bar at Mixins next summer as well as mulling franchising the business.  Caldwell has a lot of company: Nearly 63 percent of women financed their businesses from their own savings, according to the 2018 State of Women and Entrepreneurship survey of 279 women. Compare that to versus 43 percent of surveyed Inc. 5000 CEOs. Caldwell, a 25-year-old biracial single mother with three kids, previously worked at a news station and childcar…

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