FEEEDS® dialogues & advocates on issues of Food Security, Education, Environment-Energy, Economics, Development-Democracy & Self-help, The FEEEDS Issues. Dr. Robin Sanders, CEO FEEEDS & FE3DS, former U.S. Ambassador to Nigeria, Congo, & ECOWAS. Website:http://www. ambassadorrobinreneesanders.com. FEEEDS ask you to beware of all scam emails/text claiming to be from Amb. Sanders/FEEEDS as funding or monies are never requested. Report scams to FBI at spam@uce.gov
Showing posts with label Africa's SMEs. Show all posts
Showing posts with label Africa's SMEs. Show all posts
Tuesday, March 1, 2016
Making Urbanization Work for Africa_ Underscores Importance of SME Development
The above points and video underscore CEO-FEEEDS continued point of the importance of African Small and Medium Size Enterprises and Entrepreneurship for Africa's forward progress on development
Saturday, July 20, 2013
Ambassador Sanders Ringing Ringing Closing Bell at Nigerian Stock Exchange (NSE)
Daily Market Update –June 21, 2013
Photo L-R: Ade Bajomo, NSE’s ED, Market Operations and Technology; Oscar Onyema, CEO NSE; Ambassador Robin Sanders, former U.S. Ambassador to Nigeria; and Haruna Jalo-Waziri, NSE’s ED, Business Development at the Bell Ringing Ceremony by the former ambassador to Nigeria at The Exchange on Friday.
Money Market: Interbank Rates Flat on Maturing Bills
The interbank lending rates ended the week unchanged at an average of 11.33%, as maturing treasury bills and anticipated flows of public funds kept the market from tightening.
The central bank repaid about ₦160 billion ($990 million) on Thursday in matured open market operation debt notes, swelling liquidity.
"The cost of borrowing in the market had gone to an average of 14% for overnight in the week because of shortage of funds, but dropped on Friday after the cash flow from matured bills and expectation of budget allocation," a dealer told Reuters.
Dealers said the market opened with a cash balance of about ₦76.65 billion on Friday, compared with ₦136 billion a week earlier.
The secured Open Buy back (OBB) was unchanged at 11%, 100 basis points lower than the Central Bank's benchmark interest rate.
Both overnight placement and call money closed at 11.5% apiece, same level last week.
Traders said rates will drop to around 10.25% for overnight next week by the time cash from the May budget allocation to government agencies hits the market.
Nigeria distributes ₦620.7 billion in May revenues to its three tiers of government –federal, state and local, but bankers said half of the amount is expected to hit the money market by Monday, helping to provide liquidity support for the banking sector.
Stock Market: All-Share Index Depreciates
The NSE All-Share Index depreciated by 2.11% to close on Friday at 36,464.39 basis point while the market capitalisation of the listed equities on the main board also declined by 2.11% to close at ₦11.72 trillion. Also, the NSE 30 Index sheds 1.99% to close at 1,744.40.
A turnover of 1.63 billion shares worth of ₦21.68 billion in 30,952 deals were traded this week by investors on the floor of The Exchange in contrast to a total of 3.73 billion shares valued at ₦75.87 billion that exchanged hands last week in 39,060 deals.
Meanwhile, the former United States of America Ambassador to Nigeria, Dr. Robin Sanders, paid a courtesy visit at the Exchange today during a Bell Ringing Ceremony.
OTC Market
A turnover of 272.82 million units valued at ₦310.62 billion in 1,903 deals were recorded this week in contrast to 184.033 million units worth ₦206.53 billion in 1,179 deals recorded in the preceding week.
Money Market: Interbank Rates Flat on Maturing Bills
The interbank lending rates ended the week unchanged at an average of 11.33%, as maturing treasury bills and anticipated flows of public funds kept the market from tightening.
The central bank repaid about ₦160 billion ($990 million) on Thursday in matured open market operation debt notes, swelling liquidity.
"The cost of borrowing in the market had gone to an average of 14% for overnight in the week because of shortage of funds, but dropped on Friday after the cash flow from matured bills and expectation of budget allocation," a dealer told Reuters.
Dealers said the market opened with a cash balance of about ₦76.65 billion on Friday, compared with ₦136 billion a week earlier.
The secured Open Buy back (OBB) was unchanged at 11%, 100 basis points lower than the Central Bank's benchmark interest rate.
Both overnight placement and call money closed at 11.5% apiece, same level last week.
Traders said rates will drop to around 10.25% for overnight next week by the time cash from the May budget allocation to government agencies hits the market.
Nigeria distributes ₦620.7 billion in May revenues to its three tiers of government –federal, state and local, but bankers said half of the amount is expected to hit the money market by Monday, helping to provide liquidity support for the banking sector.
Stock Market: All-Share Index Depreciates
The NSE All-Share Index depreciated by 2.11% to close on Friday at 36,464.39 basis point while the market capitalisation of the listed equities on the main board also declined by 2.11% to close at ₦11.72 trillion. Also, the NSE 30 Index sheds 1.99% to close at 1,744.40.
A turnover of 1.63 billion shares worth of ₦21.68 billion in 30,952 deals were traded this week by investors on the floor of The Exchange in contrast to a total of 3.73 billion shares valued at ₦75.87 billion that exchanged hands last week in 39,060 deals.
Meanwhile, the former United States of America Ambassador to Nigeria, Dr. Robin Sanders, paid a courtesy visit at the Exchange today during a Bell Ringing Ceremony.
OTC Market
A turnover of 272.82 million units valued at ₦310.62 billion in 1,903 deals were recorded this week in contrast to 184.033 million units worth ₦206.53 billion in 1,179 deals recorded in the preceding week.
Wednesday, June 22, 2011
SMEs Development Enterprise Role in Nation Building
Recognizing the Valuable Role of SME’s in National Development
Small and Medium Size Enterprises (SMEs) in Sub-Saharan Africa (SSA) are talked about a lot in the framework of growing unemployment and high population rates as the region rushes past the billionth person population mark (most of which is under 30). There are a number of international forums, which have focused on developing the region’s SME sector focused mostly on two elements:
-- SMEs are vehicles to employment and job creation.
-- SMEs are key to the region's entrepreneurial environment needs.
But what else are they? What else needs to be further highlighted? What can those who seek to support their growth do better? We all agree that SMEs -- just like big businesses -- start with a vision, an idea, or fulfill a need in a community. But fundamentally, SMEs play a critical role in nation building, nation advancement, and a nation’s innovativeness. Development cannot happen without them; growth cannot happen without them; socio-economic paradigms shifts cannot happen without them; and poverty cannot be reduced without them. They are what produce a country’s middle class. This is their development enterprise role.
Whether one is in West, East, South or Central Africa, the sectors needing development or expansion are the same -- agriculture, infrastructure development (power and transportation), manufacturing, and information technology. But SMEs bring other innovativeness to the table especially for the heavily-populated African urban areas, where cities in the region are expected to grow by 4-5 percent over the next decades (http://tinyurl.com/SSAUrbanGrowth).
Meaning current growth rates in sectors like agriculture, currently about 3.5 percent, needs to grow by 6 percent; energy sectors must grow by 7 percent; and, economies must grow by 8 percent or more just to keep pace with the region’s population rate. These are no small tasks (www.songhai.org - Lagos, 6/16/11). There are already reports that the economic boom of 18 SSA countries may hit a snag for some later in 2011, dropping GDP growth rates to 3.7 percent as food prices and energy costs outpace growth (http://tinyurl.com/SSA-economicoutlook).
The point is SMEs have a special role to play over the next 10 years: capitalize now on the pivotal convergence of both economic growth and current investment interests in the region.
SME stands for Small and Medium Size Enterprises, but today let’s change that acronym to Strong and Maverick Enterprises -- reflecting the development enterprise space of SMEs and micro enterprises or MEs (employing 10 people or less). They are producing, designing, employing, and more importantly innovating. They are development entrepreneurs (http://tinyurl.com/TAPblogitrrs-LagosSMEspeech).
SMEs will be the foundation of the region’s middle class and that comes with certain responsibilities. Their strength can influence other social sector changes. They can demand transparency, and improved regulatory frameworks (such as access to credit, markets, and incentives, etc).
According to Global Finance, SSA has about 331 million people in the middle class today, even though, as noted above, there are GDP record growth rates of higher than 5 percent in about 18 SSA countries (http://tinyurl.com/TAP-blogitrrs-BRICA).
So, is there something wrong with this picture? Yes, a lot. These record growth rates are not changing the paradigm of people lives in all tiers of society. If the region has 30 million SMEs, then there is no reason with this kind of growth rate that SMEs should be struggling. There should be more than 331 million successful SMEs in the region.
The Strong and Maverick Enterprise Role that SMEs play also includes a transformative role. For SMEs, this means transforming from simply surviving to sustainability; this mean transforming from just producing to productivity, and finally this mean long term market trade capabilities domestically, regionally, and internationally. These transformative rules are the same for both urban and rural entrepreneurs.
Operation Hope (www.operationhope.org), a leading U.S. non-profit, stresses that those in urban areas need to create their own jobs; create their own futures; and create their own sustainability. The same applies to SSA’s rural entrepreneurs. But how you say? What does it take? What are the tools?
Let’s look at the tools SMEs will need to further advance that business idea, that vision:
-- Training, retraining, retooling, upgrading, or reinventing an SME business is essential. There’s no shame in having to do that. It is the street smart thing to do;
-- Sound business plan, and 2-4 year goals. (Although elementary principles, many SMEs struggle with this fundamental step);
-- Good accounting practices;
-- Network with institutions that can help conceptualize and transform skills to entrepreneurship; and,
-- Finance, and access to credit are challenges,(as they are for some big business ) so look for low cost loans, government-back programs, and supplement incomes by recyling. (For example, some countries pay small stipends if you take plastic bottles to recycling stations).
Getting these tools right is on the driver side of the SME business ledger, but there is also a leadership side of the ledger to truly be a development entrepreneur:
-- Respect for diversity of thought, and new ideas;
-- Assist in shaping regulations allowing for competition and in some cases comparative advantage;
-- Set business goals, but not in concrete. Some built in flexibility helps to take advantage of unexpected opportunities.
In sum, recognizing the development entrepreneur role of SMEs as part of the growth matrix is essential for Sub Saharan Africa’s progress and the growth of the region’s middle class.
Small and Medium Size Enterprises (SMEs) in Sub-Saharan Africa (SSA) are talked about a lot in the framework of growing unemployment and high population rates as the region rushes past the billionth person population mark (most of which is under 30). There are a number of international forums, which have focused on developing the region’s SME sector focused mostly on two elements:
-- SMEs are vehicles to employment and job creation.
-- SMEs are key to the region's entrepreneurial environment needs.
But what else are they? What else needs to be further highlighted? What can those who seek to support their growth do better? We all agree that SMEs -- just like big businesses -- start with a vision, an idea, or fulfill a need in a community. But fundamentally, SMEs play a critical role in nation building, nation advancement, and a nation’s innovativeness. Development cannot happen without them; growth cannot happen without them; socio-economic paradigms shifts cannot happen without them; and poverty cannot be reduced without them. They are what produce a country’s middle class. This is their development enterprise role.
Whether one is in West, East, South or Central Africa, the sectors needing development or expansion are the same -- agriculture, infrastructure development (power and transportation), manufacturing, and information technology. But SMEs bring other innovativeness to the table especially for the heavily-populated African urban areas, where cities in the region are expected to grow by 4-5 percent over the next decades (http://tinyurl.com/SSAUrbanGrowth).
Meaning current growth rates in sectors like agriculture, currently about 3.5 percent, needs to grow by 6 percent; energy sectors must grow by 7 percent; and, economies must grow by 8 percent or more just to keep pace with the region’s population rate. These are no small tasks (www.songhai.org - Lagos, 6/16/11). There are already reports that the economic boom of 18 SSA countries may hit a snag for some later in 2011, dropping GDP growth rates to 3.7 percent as food prices and energy costs outpace growth (http://tinyurl.com/SSA-economicoutlook).
The point is SMEs have a special role to play over the next 10 years: capitalize now on the pivotal convergence of both economic growth and current investment interests in the region.
SME stands for Small and Medium Size Enterprises, but today let’s change that acronym to Strong and Maverick Enterprises -- reflecting the development enterprise space of SMEs and micro enterprises or MEs (employing 10 people or less). They are producing, designing, employing, and more importantly innovating. They are development entrepreneurs (http://tinyurl.com/TAPblogitrrs-LagosSMEspeech).
SMEs will be the foundation of the region’s middle class and that comes with certain responsibilities. Their strength can influence other social sector changes. They can demand transparency, and improved regulatory frameworks (such as access to credit, markets, and incentives, etc).
According to Global Finance, SSA has about 331 million people in the middle class today, even though, as noted above, there are GDP record growth rates of higher than 5 percent in about 18 SSA countries (http://tinyurl.com/TAP-blogitrrs-BRICA).
So, is there something wrong with this picture? Yes, a lot. These record growth rates are not changing the paradigm of people lives in all tiers of society. If the region has 30 million SMEs, then there is no reason with this kind of growth rate that SMEs should be struggling. There should be more than 331 million successful SMEs in the region.
The Strong and Maverick Enterprise Role that SMEs play also includes a transformative role. For SMEs, this means transforming from simply surviving to sustainability; this mean transforming from just producing to productivity, and finally this mean long term market trade capabilities domestically, regionally, and internationally. These transformative rules are the same for both urban and rural entrepreneurs.
Operation Hope (www.operationhope.org), a leading U.S. non-profit, stresses that those in urban areas need to create their own jobs; create their own futures; and create their own sustainability. The same applies to SSA’s rural entrepreneurs. But how you say? What does it take? What are the tools?
Let’s look at the tools SMEs will need to further advance that business idea, that vision:
-- Training, retraining, retooling, upgrading, or reinventing an SME business is essential. There’s no shame in having to do that. It is the street smart thing to do;
-- Sound business plan, and 2-4 year goals. (Although elementary principles, many SMEs struggle with this fundamental step);
-- Good accounting practices;
-- Network with institutions that can help conceptualize and transform skills to entrepreneurship; and,
-- Finance, and access to credit are challenges,(as they are for some big business ) so look for low cost loans, government-back programs, and supplement incomes by recyling. (For example, some countries pay small stipends if you take plastic bottles to recycling stations).
Getting these tools right is on the driver side of the SME business ledger, but there is also a leadership side of the ledger to truly be a development entrepreneur:
-- Respect for diversity of thought, and new ideas;
-- Assist in shaping regulations allowing for competition and in some cases comparative advantage;
-- Set business goals, but not in concrete. Some built in flexibility helps to take advantage of unexpected opportunities.
In sum, recognizing the development entrepreneur role of SMEs as part of the growth matrix is essential for Sub Saharan Africa’s progress and the growth of the region’s middle class.
Monday, June 20, 2011
The Value of Leadership and the Role of SME’s in Nation Building
By Dr. Robin Renee Sanders
Good Afternoon
It is a pleasure to be here this morning for two reasons: first to be back in Nigeria at a time when you at a turning point for great advancement in your development, and secondly to have the opportunity to speak to all of you today about the role you play in the future of your country.
My task this morning from the Foundation for Skills Development is to set the framework for not only what leadership is, but also to talk to you about your role as SMEs in nation building, in nation advancement and in national development.
Your country has just had an election that has set the stage for the next few years to be growth and change years for Nigeria, based on developing key critical sectors – especially agriculture, manufacturing, infrastructure development (e.g. power and transport sectors), and information technology.
You as SMEs, however, have a special role to play during this period -- to capitalize on this turning point and make things happen for your nation particularly for the next generation, and especially for women.
Today, Nigeria has some 68 million young people under the age of 30, and 74 million women – these figures will grown over the coming years with the potential of having nearly 72 million youth in country by 2025, and nearly 78 million women. So, SMEs like you will play a fundamental role in how the lives of both youth and women play out in the next decades.
I know that SME stands for Small and Medium Size Enterprises, but today let’s change that acronym to reflect the development enterprise space that your businesses represents, not only for you, but also for those you employ even if it is just you and 10 people or less.
The fact that you are producing, designing, employing, and innovating represents the leadership role that SMEs play in the development of any nation particularly in Nigeria given the creativity, ingenuity, and dynamism that exists in every part of society here.
You are or will be this country’s middle class, and with that comes certain responsibilities -- not only do you fill the development enterprise space in the world of the private sector, but more importantly as a country develops a strong middle class other social sector changes take place as well. You can demand better transparency, and improved regulatory frameworks (such as access to credit, market access, and incentives, etc).
According to Global Finance, Sub Saharan Africa (SSA) has about 331 million people in the middle class, and this is with record GDP growth rates of 5 percent or more, in about 18 SSA countries.
So, is there something wrong with this picture? Yes, a lot. This means these record growth rates are not changing the paradigm of people lives at all tiers of society. If Sub Saharan Africa has 30 million SMEs, then there is no reason with this kind of growth rate, and again Nigeria is reportedly at 8 per cent, that SMEs should be struggling. And, you alone as a country should have a larger SME percentage in the formal sector.
Thus, for me, I believe that you need to think about the S and the M in SME as representing the Strong, but the Maverick Role you play in society and in transforming not only key development sectors, but also changing other paradigms in Nigeria. This means transforming both agriculture and manufacturing; this mean transforming from simply surviving to sustainability; this mean transforming from just producing to productivity, and finally this mean moving from just training to long term market trade capabilities domestically, regionally, and internationally.
Whether you are an urban entrepreneur, or a rural entrepreneur your roles are the same for you in your communities. And, I am talking about communities with a big “C,” meaning not just having an impact on where you work, but also on where you live and on your nation.
One of the organizations that I am affiliated with in the U.S. is called Operation Hope. It was just a leading partner in a Summit on Urban Entrepreneurship (http://www.operationhope.org/) at Rutgers University in New Jersey. What this summit focused on was how those in urban areas find ways to create their own jobs; to create their own futures; and to create their own sustainability. But how you say? What does it take? What are the tools?
Remember, all of you are here today because you either started with an idea, you saw a need, and you had a vision.[We have wonderful examples of this kind of leadership here today such as my dear friend Father Nzamonjo of the Songhai Centers in Benin, and also here in Nigeria, such as FSD whom you all know, and my young friend Taiwo who will discuss the environmental responsibilities you have as SME leaders as you develop and expand your companies. I also saw great leadership yesterday as I visited a Lagos State Job Opportunities Center in Igando and their work with Generation Enterprise.
They all started because of an idea, a vision, and a leadership commitment to fulfill a need they saw in the communities around them.
According to Nigeria World (http://tinyurl.com/NigeriaWorld), in 2003, SMEs employed about 60 per cent of the informal and formal labor force in Nigeria. Taking into account current population growth rates this percentage now is probably closer to 70 percent. With your population reportedly today anywhere between 150-152 million, and in ten years could reach 170 million – if your growth rates remain the same . . . your role will not get smaller but larger, and more comprehensive as community change-agents. We too, in the U.S., are returning our efforts to focusing on the importance of SMEs, and their role in rebuilding America’s future. Your role in Nigeria is no different. Your challenges maybe different, but your role is no different.
So let’s look at the tools, the drivers you will need to further advance that business idea, that vision, that has made you an SME today. Certainly I would have on that checklist:
• Financing, and access to credit ( I am aware of the challenges here in getting access to credit, but also know that institutions like the Central Bank, Bank of Industry, some development partners and others are very much focusing on these issues for SMEs);
• Training and retraining – remember things change and you too may need to retool, upgrade, or reinvent yourself and your business. There is no shame in having to do that. It is the street smart thing to do so;
• Let your voice be heard regarding shaping the regulatory environment that allows you to be successful, competitive and in some cases have a comparative advantage;
• Have at least a sound business outline, or better yet a business plan with goals of where you want to be in 3-to-5 years;
• Have good accounting practices; and,
• Work with institutions like FSD that can help you turn and conceptualize your business from vocational training to entrepreneurship.
I know that you know all these things, but sometimes it is good just to hear them again. Getting these tools and drivers right is also part of the leadership end of the ledger along with your passion for what you do as SME leaders as a development entrepreneur.
I care about issues of food security, education (particularly in entrepreneurial training), environment-energy, economics, development-democracy, and self help (The FEEEDS® issues) as these are the issues that I am passionate about and that I have chosen are important to me at this stage of my life.
You have to have that same sort of passion for what you do (Yes, I know the financing, market issues, and profits are the real-politick of surviving), but having passion for your business is that intangible leadership tool that can help you survive, and your business to have longevity.
My task this morning from the Foundation for Skills Development is to set the framework for not only what leadership is, but also to talk to you about your role as SMEs in nation building, in nation advancement and in national development.
Your country has just had an election that has set the stage for the next few years to be growth and change years for Nigeria, based on developing key critical sectors – especially agriculture, manufacturing, infrastructure development (e.g. power and transport sectors), and information technology.
You as SMEs, however, have a special role to play during this period -- to capitalize on this turning point and make things happen for your nation particularly for the next generation, and especially for women.
Today, Nigeria has some 68 million young people under the age of 30, and 74 million women – these figures will grown over the coming years with the potential of having nearly 72 million youth in country by 2025, and nearly 78 million women. So, SMEs like you will play a fundamental role in how the lives of both youth and women play out in the next decades.
I know that SME stands for Small and Medium Size Enterprises, but today let’s change that acronym to reflect the development enterprise space that your businesses represents, not only for you, but also for those you employ even if it is just you and 10 people or less.
The fact that you are producing, designing, employing, and innovating represents the leadership role that SMEs play in the development of any nation particularly in Nigeria given the creativity, ingenuity, and dynamism that exists in every part of society here.
You are or will be this country’s middle class, and with that comes certain responsibilities -- not only do you fill the development enterprise space in the world of the private sector, but more importantly as a country develops a strong middle class other social sector changes take place as well. You can demand better transparency, and improved regulatory frameworks (such as access to credit, market access, and incentives, etc).
According to Global Finance, Sub Saharan Africa (SSA) has about 331 million people in the middle class, and this is with record GDP growth rates of 5 percent or more, in about 18 SSA countries.
So, is there something wrong with this picture? Yes, a lot. This means these record growth rates are not changing the paradigm of people lives at all tiers of society. If Sub Saharan Africa has 30 million SMEs, then there is no reason with this kind of growth rate, and again Nigeria is reportedly at 8 per cent, that SMEs should be struggling. And, you alone as a country should have a larger SME percentage in the formal sector.
Thus, for me, I believe that you need to think about the S and the M in SME as representing the Strong, but the Maverick Role you play in society and in transforming not only key development sectors, but also changing other paradigms in Nigeria. This means transforming both agriculture and manufacturing; this mean transforming from simply surviving to sustainability; this mean transforming from just producing to productivity, and finally this mean moving from just training to long term market trade capabilities domestically, regionally, and internationally.
Whether you are an urban entrepreneur, or a rural entrepreneur your roles are the same for you in your communities. And, I am talking about communities with a big “C,” meaning not just having an impact on where you work, but also on where you live and on your nation.
One of the organizations that I am affiliated with in the U.S. is called Operation Hope. It was just a leading partner in a Summit on Urban Entrepreneurship (http://www.operationhope.org/) at Rutgers University in New Jersey. What this summit focused on was how those in urban areas find ways to create their own jobs; to create their own futures; and to create their own sustainability. But how you say? What does it take? What are the tools?
Remember, all of you are here today because you either started with an idea, you saw a need, and you had a vision.[We have wonderful examples of this kind of leadership here today such as my dear friend Father Nzamonjo of the Songhai Centers in Benin, and also here in Nigeria, such as FSD whom you all know, and my young friend Taiwo who will discuss the environmental responsibilities you have as SME leaders as you develop and expand your companies. I also saw great leadership yesterday as I visited a Lagos State Job Opportunities Center in Igando and their work with Generation Enterprise.
They all started because of an idea, a vision, and a leadership commitment to fulfill a need they saw in the communities around them.
According to Nigeria World (http://tinyurl.com/NigeriaWorld), in 2003, SMEs employed about 60 per cent of the informal and formal labor force in Nigeria. Taking into account current population growth rates this percentage now is probably closer to 70 percent. With your population reportedly today anywhere between 150-152 million, and in ten years could reach 170 million – if your growth rates remain the same . . . your role will not get smaller but larger, and more comprehensive as community change-agents. We too, in the U.S., are returning our efforts to focusing on the importance of SMEs, and their role in rebuilding America’s future. Your role in Nigeria is no different. Your challenges maybe different, but your role is no different.
So let’s look at the tools, the drivers you will need to further advance that business idea, that vision, that has made you an SME today. Certainly I would have on that checklist:
• Financing, and access to credit ( I am aware of the challenges here in getting access to credit, but also know that institutions like the Central Bank, Bank of Industry, some development partners and others are very much focusing on these issues for SMEs);
• Training and retraining – remember things change and you too may need to retool, upgrade, or reinvent yourself and your business. There is no shame in having to do that. It is the street smart thing to do so;
• Let your voice be heard regarding shaping the regulatory environment that allows you to be successful, competitive and in some cases have a comparative advantage;
• Have at least a sound business outline, or better yet a business plan with goals of where you want to be in 3-to-5 years;
• Have good accounting practices; and,
• Work with institutions like FSD that can help you turn and conceptualize your business from vocational training to entrepreneurship.
I know that you know all these things, but sometimes it is good just to hear them again. Getting these tools and drivers right is also part of the leadership end of the ledger along with your passion for what you do as SME leaders as a development entrepreneur.
I care about issues of food security, education (particularly in entrepreneurial training), environment-energy, economics, development-democracy, and self help (The FEEEDS® issues) as these are the issues that I am passionate about and that I have chosen are important to me at this stage of my life.
You have to have that same sort of passion for what you do (Yes, I know the financing, market issues, and profits are the real-politick of surviving), but having passion for your business is that intangible leadership tool that can help you survive, and your business to have longevity.
There are a few other leadership things I also want you to keep in mind:
• The importance of the respect for diversity of thought, and new ideas;
• Remember that as you change, markets change, and your product may need to change along with it;
• Pay attention to what is happening in your communities and in your nation so that you can always play a role in the advancement of your nation as an SME, as a Strong and Maverick Enterprise; and,
• Set goals for your companies, but not in concrete, have some flexibility built in so that if unexpected opportunities arise, you can take advantage of them.
I have intentionally used charged word-phrases like community change-agent when describing your leadership role as an SME because I want you to leave here embolden, energized, and emotive not only about your business, but also about your role in your country’s development as a development entrepreneur especially given the opportunities that lie ahead in this transformative era for Nigeria. You are Strong, You are Mavericks, and you are SME’s! And, you are Nigeria’s future!
Thank You!
• The importance of the respect for diversity of thought, and new ideas;
• Remember that as you change, markets change, and your product may need to change along with it;
• Pay attention to what is happening in your communities and in your nation so that you can always play a role in the advancement of your nation as an SME, as a Strong and Maverick Enterprise; and,
• Set goals for your companies, but not in concrete, have some flexibility built in so that if unexpected opportunities arise, you can take advantage of them.
I have intentionally used charged word-phrases like community change-agent when describing your leadership role as an SME because I want you to leave here embolden, energized, and emotive not only about your business, but also about your role in your country’s development as a development entrepreneur especially given the opportunities that lie ahead in this transformative era for Nigeria. You are Strong, You are Mavericks, and you are SME’s! And, you are Nigeria’s future!
Thank You!
Subscribe to:
Posts (Atom)