Concept Note

Concept Title

Development of partnerships and programmes that support Start-ups and SMEs in Nigeria and Africa

Justification

Millennium Development Goals (MDGs)

To complement the effort of the “Federal, State and Local Government of Nigeria” in achieving the Millennium Development Goal (MDGs) targets;

Goal 1, Eradication of extreme poverty and hunger
•    Target 1: Halve between 1990 and 2015, the proportion of people whose income is less than one dollar a day
•    Target 2: Halve, between 1990 and 2015, the proportion of people who suffer from Hunger

Available Potentials and Resources
Our findings indicated that Africa sits atop 40% of the world’s natural resources but can only account for 10% of the world’s wealth. With the vast potential for greatness, it is abysmal to see lack and poverty across the continent. This is a case of poor vision in the midst of plenty. We believe it’s high time we stood up to be in the driver seat of world’s economy. To take stand against illiteracy, mediocrity, corruption and other vices that promotes economic and social stagnation.

Unemployment
Report from the United Nations shows that, about one in four Nigerians is currently unemployed and that Nigeria has one of the worst youth unemployment rates in sub-Sahara Africa at 37.7 per cent. These damning verdicts are contained in a 291-page publication called the ‘African Economic Outlook’ jointly published by the ‘United Nations Economic Commission for Africa, UNECA’; the ‘United Nations Development Population, UNDP’; the ‘African Development Bank Group, ADB’; and the ‘Organization of Economic Cooperation and Development. With these near truth statistics, there can’t be a worse motivating factor for crime and violence.

-Culled from The Guardian Publication, pg. 80, back page, Youth Speak, Nigerian Economic Order: A titanic injustice, Tuesday, April 16, 2013     
‘Unemployment’ is one of the greatest problems facing Nigeria and Africa today and the best solution is through “Entrepreneurship”. Nigeria needs Entrepreneurs to help tackle unemployment and its associated ills. Employment by Government agencies and multinationals cannot solve the problem of unemployment in Nigeria. The emergence of successful Entrepreneurs is the best option for wealth distribution, National development, security and infrastructure development, better quality of education, transportation, power, communication, and quality health services in Nigeria.

Environmental factors and Government Policies
Manufacturers Association of Nigeria (MAN) also reported how 834 companies closed down in the year 2009 in Nigeria (The Punch” Newspaper, Sunday October 31, 2010). The De-industrialisation trend leads to complications such as high rate of un-employment and low National GDP. According to MAN, the three levels of Government have been frustrating Nigerian businesses with zero business support policy consideration, multiple taxation, high cost of setting-up and running businesses.

We shall strive to work with and also influence Government’s policies (at the three levels) in favour of entrepreneurship.
 
Solution to Unemployment and Poverty
We will like to reverse this trend. Hence, we shall be engaging interested Institutions for entrepreneurial cultural and capacity development and support. We shall work in partnership with and also support existing programmes on entrepreneurship.

The solution to unemployment and achievement of Millennium Development Goals such as eradication of extreme poverty and hunger can be summarized in entrepreneurism.

If Nigeria and Africa focus on entrepreneurial development and support, we shall experience massive employment, massive national development and less social mishaps. 

Most of the big entrepreneurs in the world started as small entrepreneurs and this includes America. Entrepreneurship is the American dream. As written by Steven Marriotti (The Young Entrepreneur’s guide) Entrepreneurship is the engine of the economy. Most of the new jobs created in America in this decade have been created by small entrepreneurs and not big businesses. According to Professor Timmons, “the vast majority of nearly 2 million millionaires in the United States in 1993 accumulated their wealth through entrepreneurial acts”.
 
Target

1.    Retirees or Senior Citizens
2.    Graduates and Undergraduates
3.    Secondary School students
4.    Primary School Pupils
 
Goals

We are looking for partners to help achieve under-listed goals in Nigeria, which includes;
1.    Informing and influencing Nigerian public on entrepreneurship through established programmes
2.    Showcasing business opportunities in Nigeria to potential entrepreneurs thereby inspiring them to follow suit
3.    Supplying information that assists Nigerian entrepreneurs to take the right step in developing their businesses
4.    Airing programmes that address SME development in Nigeria
5.    Organising programmes that increases Financial Literacy and IQs
6.    Setting up a Mentorship programme
7.    Training Entrepreneurs through Entrepreneur Academy, Workshops and Seminars
8.    Supporting entrepreneur graduates, Start-ups and SMEs through consulting services such as;   
Business Research
o    Business Segmentation, Targeting and Positioning
o    Marketing strategies
    Product development/product mix
    Pricing strategies
    Promotion strategies
    Placement, Distribution and channel strategies
    Setting up Marketing and Selling processes
    Packaging and Image
    People skill
o    Business Projects, Implementation and Execution
o    Business Controls
o    Information technology and E-Commerce


Specific Activities

1.    Entrepreneurial Academy
We shall offer entrepreneurial and vocational training in Nigeria which shall be open to the public. Our academy would train would-be-entrepreneurs. The focus would be on Retirees, Graduates and SSCE Holders.

2.    Entrepreneurial Consulting Services
We shall offer consulting services to new start-ups and established SMEs in various localities in Nigeria. The objective is to assist local businesses to start and run successfully.

3.    Entrepreneurial Quiz Competition
We shall set up National entrepreneur quiz competition pan Nigeria among tertiary and secondary school students to create awareness and interest among students.

4.    Entrepreneurial Boot-Camp
We shall set up Entrepreneurial Boot-Camp for Tertiary Institution students/undergraduates during the long vacation. We also set up Entrepreneurial Boot-camp for Secondary school students during the long vacation.

5.    Entrepreneurial Exchange and Apprenticeship Programme
We shall attach graduates of the entrepreneur training to established businesses to understudy their business operation and acquire first hand business experience, which would be relevant in running their businesses.

6.    Business Fair
We provide a platform for entrepreneurs to network with themselves and link would-be-entrepreneurs via business presentations. to local and international investors after they have submitted their business plan and make presentation.

7.    Entrepreneurial Reality TV programmeWe set up an Entrepreneurial Reality TV show where candidates would commence the competition by selling their ideas to investors.  Those that are able to sell their ideas would be the finalist for the competition. The finalists shall set up their businesses and run it for a minimum of three months; the entrepreneur/company with the highest profit wins.

8.    Blog
Through the Financial IQ™ blog we keep entrepreneurs informed on business insights, news, articles, and people.

9.    Entrepreneurship promoting games
Chess, Monopoly and Cash-flow games would be used to increase IQ and Financial IQ among our target Audience.

Expected Output

1.    Increase in entrepreneurship culture and mentality in Nigeria
2.    Increase in awareness for entrepreneurship in Nigeria
3.    Increase in Entrepreneurship and vocational skill acquisition
4.    Increase in successful start-up entrepreneurs and SMEs
5.    Increase in successful businesses in Nigeria
6.    Creation of massive job/employment and opportunities in Nigeria
7.    Reduction of extreme poverty and hunger in Nigeria and Africa