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COVID-19 Gov. Ugwuanyi grants relief, incentives to taxpayers

In furtherance of his administration’s efforts in cushioning the effect of the Coronavirus Disease (COVID-19) pandemic on residents of Enugu State, Governor Ifeanyi Ugwuanyi has granted tax relief and incentives to taxpayers in the state.

The governor’s decision was contained in a statement by the Chairman of the Enugu State Internal Revenue Service, Prince Emeka Odo.

Odo noted that “The Enugu State Government has since the inception of the current administration, in May 2015, waived the payment of Personal Income Tax as well as Market Tax, for all traders in the major markets of the state”.

The Chairman added that the waivers “which are part of the administration’s pro-poor policies” are still in force and will be sustained till the end of the tenure.

Other COVID-19 tax relief and incentives approved by Gov. Ugwuanyi, according to Odo, are as follows: “The deadline for the submission of Form A for employees and Annual Returns in accordance with Section 41 (3) and 81 (1-3) of the Personal Income Tax Act (PITA) 2011 as amended for companies and institutions operating in Enugu State has been extended to 30th July, 2020.

“A waiver of penalty and interest charged for late remittance of Pay As You Earn (PAYE) deductions is hereby granted from January to December 2020 for all sectors. A 50% discount on all assessed Capital Gains Tax (CGT) from now till December 2020. A 50% discount on all Personal Income Tax Assessment issued to owners of schools and hotels for Year 2020.

“A 50% discount on all assessed Land Use Charge payment for Year 2020. This discount will expire on 31st of December 2020. A waiver of penalty and interest on Land Use Charge for Years 2018 and 2019 once payment is made before December 2020”.

The Chairman stated that “all our esteemed taxpayers are encouraged to obtain their Enugu State Social Benefit Number (ESBN) as it remains the unique identity prerequisite for obtaining electronic Tax Clearance Certificate (e-TCC)”, stressing that “ESBN is free”.

He pointed out that “our liaison offices at Abuja and Lagos are open on a daily basis except weekends and public holidays for easier access to taxpayers” and went further to ask all taxpayers to “make their payments into any Commercial Bank with ENSG IGR Paydirect Platform”, warning: “You must not pay by cash to anyone”.

Enugu State is in the hands of God!

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Covid-19: Osinbajo, Okonjo-iweala, Kaberuka outline measures to revive the economy, boost SMEs

Yemi Osinbajo, vicepresident of Nigeria, has said the Muhammadu Buhari administration would formulate policies to aid local production of goods, while also creating the requisite environment to aid local industries.

Osinbajo said the administration plans to invest in the housing sector by building 30 million homes for Nigerians in five years, while the labour and raw material would be sourced locally to create jobs and boost local industries.

He stated this on Friday while featuring in a Covid-19 webinar interactive with the theme: ‘Economy sustainability beyond covid-19’.

The interaction was organised by the em manuel chapel methodist Church.

The interaction also featured Ngozi Okonjo- Iweala former finance minister in Nigeria and current chair- Gavi, the Global Vaccine Alliance, and Donald Kaberuka, former president of the African Development Bank (ADB).

Osinbajo further said that the Federal Government was planning to boost the power sector by investing more in renewable energy, liberalising the sector to encourage private investment in whose tariff would be service driven.

Speaking further, Osinbajo added that the liberalism of the power sector had reduced the subsidy regime and saved a huge significant amount of money for the federal government.

According to him, “If we have a cost effective value chain it would make the Gencos and Discos to have their value chain. The critical thing is to make the market based system work.

“NEC has proposed a system where the Gencos can go and negotiate the price with their customer on service. Through this we can reduce the subsidy regime which has consumed money in the country.

“We intend to build 30 million homes in five years it is an opportunity to grow the local industry and develop the housing programme; We thought we can generate jobs, because we intend using local materials, the engineers, architecture would all be source locally and we can give them 20 or 10 houses to build in some states.

Also speaking Donald Kaberuka advised African leaders that providing a relief package for the citizenry to cushion the effect of the covid-19 was crucial than projecting economic growth.

Kaberuka identified policy inconsistency as the reason for retarded growth witnessed in several African countries over the years, while urging Africans to take extra precautionary measures toward safe-guarding the economy and empowering their citizens because the Covid-19 may stay for long.

“This is a crisis like no other, the government has reduced lockdown because people have to survive; what is happening to families matters, providing support for households is more important than saying my country is growing at 7%,” Kaberuka said.

Also speaking , Iweala outlined the achievements of the African Union (AU) in mitigating the virus in the continent, stressing that AU was putting measures in place that make newly discovered vaccines accessible and affordable to every class of persons in the society.

“The lockdown was necessary because of the increasing number of the virus across countries in the continent and it was to tell the people the severity of the infection.

“We don’t want a situation where the vaccine, if it is discovered, is bought off by the rich countries, that is why we are taking measures so that the poor countries can see it,” Iweala said.

Source – businessday.ng

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Enugu State eyes soaring digital economy with e-YES

For the first time in a long while, a Nigerian state is rethinking dividend of democracy and offering empowerment opportunities to those who truly need it, particularly the unemployed youths. – Business Day https://businessday.ng/enterpreneur/article/enugu-state-eyes-soaring-digital-economy-with-e-yes/

Of course, the youths constitute almost half of the Nigerian population and engaging them productively implies more productivity, positive impact on the gross domestic product (GDP), and most importantly, reduction in crime and restiveness as well as ensuring that they are ready for the new digital future

It is against this background that the Enugu State Government set up the Enugu Youth Empowerment Scheme (e-YES), an innovative initiative aimed at empowering youths living in the state with training in digital skills. As well, the forward-looking government invented e-YES in recognition of the place of technology and digitization, which are obviously the new currencies in the world today.

The scheme is an initiative of the Enugu SME Center, under the Enugu Human Capital Development Loan Program, and as it rolls out, thousands of youths are expected to be trained and empowered with digital skills in areas such as: Advertising, Digital Marketing, Internet Promotion, SMS Marketing, Search Engine Optimization (SEO), PPC, and Analytics. Others skills in the scheme include: Mobile Advertising, Email Marketing and Content Marketing.

The scheme, according to the Enugu SME Center, is open to all Enugu State youth and jobseekers that have interest in acquiring digital skills. But the intrigue of the initiative is that the program is guaranteeing the participants training loans, certificates and jobs with private sector to repay the loans.

“Upon completion of the training, participants will be placed into jobs, and within an agreed number of months are obligated to pay back the cost of the training through their respective salaries. This way, they can not only contribute to the economic development of Enugu State and Nigeria at large”, but funds can be recycled to train other youths, the Enugu SME Center said.

Speaking on the initiative, which is part of his critical human development projects, Ifeanyi Ugwuanyi, executive governor, Enugu State, declared, “Our commitment in develop human capital and ensuring that businesses thrive is reflected in our World Bank Ease of Doing Business ranking, which moved from 27th to 3rd”. In line with his principal, Arinze Chilo-Offiah, Special Adviser, SME Development Head, Enugu SME Center, added that, “Human capital development is important in improving and enhancing the quality of life of the people as well as the private sector ecosystem”. Explaining the rationale for the training-for-jobs scheme , Chilo-Offiah said that they are high-income skills that would enable trained youths to thrive in today’s digital-first world, become innovative entrepreneurs and strategic valuable assets to Enugu State and the international community at large.

According to the Special Adviser/SME Development Head, Enugu SME Center, “Technology will continue to drive change in the workplace, and for one to be a game-changer, one must be able to use technology to solve everyday problems. With this initiative, the Enugu SME Centre is giving the youth an edge, starting now”.

However, to ensure the anticipated result, Enugu SME Center has engaged certified and experienced trainers with affiliation to the Digital Marketing Institute of Ireland; a globally recognized digital training body, to equip the youths with the gainful digital skills. One of the trainers is Wild Fusion Digital Centre, a Nigerian-based digital and technology company.

Speaking on their readiness to deliver quality, Abasiama Idaresit, CEO, Wild Fusion Digital Centre, noted that the outfit has an international certification and validation to deliver quality digital marketing training and job placement for the participants of the program.

“We have trained over 4,000 students since 2014, who are gainfully employed and delivering value to their employers”, Idaresit explained.

He stated that “participants will be provided jobs in the private sector and a;lso to provide service for MSMEs, Startups and other such businesses across Nigeria and the globe. Being that we live in a digital age, it is easy for someone to provide service for a company irrespective of geographical location and earn foreign exchange while still residing in Enugu state. This initiative will leverage this as well”.

The e-YES is on and offering youths opportunity to jumpstart careers in the digital world and technology, hence the Enugu State government through the Enugu SME Center is calling on youths from the state, who are desirous of empowerment, to take advantage of the scheme.

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Here’s Why a Mobile Accounting App Can Improve Your Small Business

Are you an entrepreneur who is always on the go? A small business owner who travels for work? Or are you a travel enthusiast, but also really keen on growing a successful business? If this sounds like you, then adopting a mobile accounting app might be just the thing for you. After all, there must be a way to improve your business while on-the-go, without sacrificing the needs of your business or your clients.

If you’re in the same boat, then read on to discover a few reasons why (and how) your small business can benefit from adopting a mobile accounting app for your bookkeeping purposes.

A Sense of Immediacy

Small business owners are increasingly coveting the ability to work on their businesses from anywhere. Whether you’re a frequent traveler or simply don’t believe in a standard 9-5 workday, cloud-based accounting software works like a charm to help provide flexibility.

However, not all accounting platforms offer a companion accounting app. Moreover, not every accounting app out there is the right fit for your business.

Accounting software that has mobile accounting apps offers much greater mobility, flexibility, and therefore immediacy. In an age of instant gratification, forgetting to bring your books to Mexico or struggling to access your financial reports while out at dinner just doesn’t cut it anymore.

Serving your Clients Well Through the Payment Process

Knowing your clients’ needs are important: how else do you attract, maintain and retain customer loyalty?

But doing good work for your clients is only half the battle. In the accounting world, invoicing can be the hard part and is just as important.

Set up strong internal invoicing processes to not only help minimize rework but to demonstrate to your clients that they should be paying you on time and consistently.

Mobile accounting apps are designed to help you serve your clients from literally anywhere. As long as you have your smartphone, you have access to the important stuff. You can upload expense details on the fly, send a well-crafted invoice while you’re eating out, or access financial reports when an investor requests for them.

If your invoices are unprofessional and late, sent out in inconsistent manners, numbered incorrectly, or consists of calculating errors—how do you expect your clients to take payments seriously, or at all?

With your mobile accounting app, you also increase the likelihood of your ability to send invoices to your clients on-time—which directly translates to them doing the same for you. After all, respect is a two-way street.

Grow Technological Capabilities


Adopting accounting software is a big leap. Particularly when a mobile accounting app is thrown into the mix. But when used correctly, a small business owner can use it as a tool to improve their business.

Accounting software that offers the use of a mobile accounting app provides numerous benefits to entrepreneurs and small business owners who are in the pursuit of growing their business. Some of these include: providing a sense of immediacy, serving your clients through the payment process, and the ability to grow your technological capabilities.

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Business Loan: Advantages and Disadvantages

Business loans serve as a powerful tool to help fund, launch, and grow a small business. As a small business owner, you may be looking to secure financing to maintain business operations, expand locations, invest in new equipment, or hire more employees. A business loan helps you achieve all this.

Not sure if a business loan is right for you? In this article, we break down the advantages and disadvantages of taking out a business loan, as well as questions to ask yourself if you’re still overwhelmed.

Advantages of Borrowing


Receive an influx of cash to grow your business
The easiest and most obvious way to gain major cash flow is to take out a business loan. If your business is at a stage where it’s ready to launch, expand, or grow its operations, business loans are a good choice. Compared to other funding options, you access a relatively large amount of capital for multiple purposes.

Maintain control of your business
Unlike borrowing equity (where business issues shares), taking out a business loan from the bank provides you full control over your business. Banks don’t get involved in any aspect of running your business, which means as a business owner—you retain full control and management over your company’s operations, while still reaping the benefits of extra cash.

Interest is tax-deductible
The words “tax-deductible” probably ring in your ears: it’s great news. Interest on your business bank loans is tax-deductible. This is particularly so with fixed-rate loans, in which the interest rate does not change throughout the course of your loan. This makes it much easier for small business owners to budget and plan for monthly loan payments!

Disadvantages of Borrowing


Tough to qualify
Unless you’re a small business owner with a considerable track record of valuable assets (i.e. real estate), then, unfortunately, it’s highly difficult to obtain business loans. Like applying for a mortgage, banks are extra careful with lending. They want to make sure that you can pay them back. Often, borrowers must provide the bank some sort of guarantee, such as having their personal assets seized in the event the business fails and is unable to repay all or part of a loan.

High-interest rates
Another disadvantage of small business loans is high-interest rates. In addition to that, often the amount a business qualifies for is also not enough to meet a company’s needs.

Borrowing money at a high-interest rate serves as a disservice for the business, as it often has to deal with the business loan and additional funding to cover funds not provided by the bank.

Questions to ask when considering a business loan
Borrowing money for your business comes with its pros and cons—as with any business decisions that involve money. If you are still unsure about whether a business loan is right for you, here are several questions to reflect on:

  • How much funding do I need?
  • What is the timeline in which I need the money?
  • Do I qualify for lender requirements?
  • And if so, how do I plan to spend the money?
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9 Life-Changing Financial Tips Everyone Should Know Before 30

If you don’t tell your money where to go, you’ll be asking where your money went.

  1. Business owners make the most money in the long run…. That’s probably not surprising, but it comes with a high price. Usually, most business owners start off very slow. It takes years and years to build a truly profitable business, but once they get over that hump, the sky is the limit in regards to income. Keep the faith.
  2. People that work in sales have high earning potential… Medical sales, stock brokers, insurance brokers… pretty much any position that has the ability to earn commissions or bonuses can grow into a lucrative career over time. Even if a salesperson frequently switches jobs, typically they change to higher paying opportunities with greater payout potential as their careers mature.

The number one rule of budgeting: pay yourself first.

  1. Just because someone makes a lot of money, doesn’t mean they keep a lot of money. Let’s face the facts, if you make over $1 million per year but you spend over $1 million a year, then you are broke. I’m talking about everyday bills as well as expensive cars, designer clothes, jewelry, fancy dinners — there’s plenty of ways to give your money away. The number one rule of budgeting: pay yourself first. Just because you’re making a lot of money now doesn’t mean you always will. Automatically transfer the amount you want to save each pay period into to a separate account, and the needless stuff will weed itself out.
  2. Inheritance matters… Those blessed enough to be given a financial head start have an incredible advantage in making down payments on houses, starting businesses, or maxing out retirement contributions more quickly. Not coincidentally, this same group of people tend to have parents who have educated them on personal finance, and tend to be significantly more prepared to build wealth than the average person. This should be the ultimate goal for our children, but we must start taking steps now.

“If you don’t tell your money where to go, you’ll be asking where your money went.”

  1. People that don’t track their spending often end up in financial strain… Perhaps counter intuitively, those with higher bank account balances are usually looking at every little expense and challenging every fee on their account. They know precisely where every dollar goes. On the other side of the coin, those who do not have much money are typically less aware of how much they spend and are being charged. Keep an eye on your expenses!
  2. 401k investing is critical… All W-2 employees should definitely look into their company’s 401k program. Company’s often incentivize participation in 401k plans by annually matching some percentage of your contributions. People who max out their 401k accounts and IRAs have a much more realistic chance of retiring comfortably than those who don’t. This, over time, can be a game changer even for someone who does not have a relatively high income. Free money for doing right thing!
  3. Having a good credit score is invaluable… People with good credit have the ability to build wealth via increased purchasing power. Loans are much more expensive for folks with bad credit. Having a good credit score is akin to being a straight-A student in high school or having a great relationship with the Principal. You can get away with more and have a lot more freedom than the average student when you’ve built a rapport. A bad credit score will always slow you down when trying to build wealth because banks won’t be nearly as willing to loan you the money you need.

If you’re going to take a risk with credit, use it to try and make more money.

  1. Debt can make or break you…. Having a great credit score to borrow funds for cheap is one thing, but knowing how to properly manage the funds is another. In reality, debt should only be used to build wealth or gain some type of monetary return. Property, businesses, and personal education are all great examples of good debt. Sadly though, most people abuse debt by overspending with credit cards on things that offer no return that they typically can’t even afford in the first place. If you’re going to take a risk with credit, use it to try and make more money.
    Note: You can keep easy track of your score with apps like Credit Karma and Mint.
  2. Real Estate investing can be a great wealth builder… Owning a home is great, however owning an investment property is even better. Multiple streams of income are they key to building wealth. People that own investment properties are able to diversify their income and make mailbox money. On top of the opportunity for increased income, savvy investors can buy and flip homes in order to potentially see even larger returns. The choice is yours!
    Financial health is a building block of life and should be taken just as seriously as your physical health. I hope this will help you in any way possible!

Trey Parker, MBA

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How to run your company when you are the only staff

As a Startup, you might have little to no funding. This lack of financing, unfortunately, will make it difficult for you to hire the staff you need from the onset.

I also struggled in the early days of starting my business. I was the one sweeping, opening and closing the office for the day. I became the accountant, salesgirl and front desk staff. I was everything in my business. As you might guess, the proverbial one-man squad. This situation was an exhausting and demoralizing experience, especially for a new startup with little or no funding. I had a choice, to either quit and see the cup as half empty or to see the situation as an opportunity to get intimately connected with every aspect of my business from bottom-up. I chose the latter. I decided to see the glass as half full. This dose of optimism helped me create the system and structure that worked for my business. To this end, I want to show you the three things you can start doing from today to cope when you are the only staff in your company.

Set realistic timelines

Being the only staff in your company implies that you will be the one that will implement your service delivery system from beginning to the end—or at least be in charge of the process. The downside is that if for health reasons or unforeseen circumstances, you are unable to meet up, you will disappoint your clients.

Disappointing your customers is not the best practice. It erodes credibility and the trust customers have in your business. This lack of trust will affect future jobs from the customers you disappointed. Therefore, you need to find a way to ensure you don’t disappoint your customers.

One way to do this is to give realistic timelines for project closeout or delivery date. If you know you can deliver a job within three days, the wise thing to do would be to extend this by 48hrs to cover for any incidentals or unforeseen circumstances. Moreover, if everything goes well as you have planned, you will register your name as the organisation that delivers ahead of projected time, which will be a bonus for your business.

But then, some customers will come to you and tell you that they are time-strapped and would compel you to agree to unrealistic delivery time. This rushed briefs usually happen to service organizations, that is, printers, advertising agencies, experiential marketing firms etcetera. As a startup, I would not advise you to reject any opportunity. However, be sure that you have made contingency plans to meet the deadline and are willing to pull in an all-nighter by making the required sacrifice. Otherwise don’t agree to the time. You can charge them extra for express service delivery. The additional charge is not about being greedy; it is to make up for all the adjustments and extra cost you will incur to be able to deliver quality products or service in record time.

However, there are times where the challenge is not about delivering on time; but executing a specific task which you do not have the technical know-how to deliver. What you do at such point is to outsource.

Outsource

Outsourcing your service is one way to satisfy your customers, even when you are the only staff without the risk of losing them to your competitor.

For example, while working for an experiential firm, we had extreme deadlines to submit briefs. There was no way we would meet the stipulated time without outsourcing some of the work. We did this all the time, and this method helped us win many accounts with minimal mistakes. The rush of it, the adrenaline while you are working. The uncertainty and intensity of brainstorming and ideating under pressure can negatively affect your output if you do not have the right expertise in-house or on the table. In the manufacturing sector, take the fashion industry, for instance, as a designer, you can partner with several tailoring outfits to produce your designs along the value chain. A protégé of mine runs a publishing company, but, he doesn’t own a printing press. However, this is not a deterrent to him. What he does is to partner with a print house to handle all the heavy lifting, while he does all the design, editing and ISBN.

Therefore, when you get a contract to do a job, and you know that all the skillset required for the timely delivery of that job is not available. The wise thing to do is to outsource the work to your partners. This method is cheaper than hiring a full-time staff whom you may not be able to sustain due to the sporadic nature of jobs coming into your business.

A caveat: Do not just outsource to anybody. It is your name that is on your final product. So, be thorough when selecting your outsourcing partner. Your name is important, and as a startup, you do not want it associated with poor quality and missed deadlines. You want to do jobs and create products that will attract more customers. So, do not compromise on quality!

One of the realities of outsourcing is that you may experience loss of time between job commissioning and delivery. To save time and increase your income, you may need to acquire ancillary skills.

Acquire ancillary skills

There are times when you may need to finish specific tasks at the same time. A case in point is that if you run a digital marketing startup, you may not be able to hire a graphic designer full time to augment your content development strength. If you have to wait for a graphic designer to do a design and send back to you each time a job comes in, you might not meet up with your deadlines. In such a situation, what you need is to acquire ancillary skills.

To be clear, it is not every skill you can acquire. For instance, I cannot tell that protégé of mine whom I spoke of earlier who owns a publishing firm to learn how to operate a press machine. Asking him to acquire this skill may distract him from his core. But assuming he is a skilled writer but does not know how to do graphic design, I will advise him to learn graphic design skill or use Apps such as Canva or Designrr to augment. This skill will help him finish his work in record time without suffering the delay of having to call a graphic designer and the ensuing back and forth that would inevitably follow.

So, as you run your business, do not allow your limited staff strength to keep you from soaring. Give your customers a realistic job delivery time, outsource certain services and acquire any skill or machinery you can combine with your core to make you consistently meet your timelines.

Don’t forget to write to me on ask@startupdoctor.ng or thestartupdoctor@gmail.com. Please send in your business issues let us resolve them together on this page. I would love to read from you.

To your continued success.

Keep Sparkling!

Muna Onuzo

The Startup Doctor.

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Racism and economics – what blacks should know

We are making a mistake building walls than bridges. Beyond singing Wyclef’s Diallo; beyond screaming “I can’t breathe” in solidarity of George Floyd comes a reality. When it comes to marginalization in the 21st Century, playing Malcolm and Martin Luther King is played out. The same goes for shouting Biafra on the streets of Aba before Operation Python or screaming Aluta like Sowore as if it’s 1993 again in his Unilag prime. Mere protests around marginalization if not in your small campuses remain a temporary solution to a permanent problem. Tribes and race battles aren’t about accents and colors. Leave that for Language classes and Fine Art lessons. It’s about economics and power. If you don’t crack that code, you’re screaming in a vacuum!

Protest especially when it overstays its welcome will always be hijacked. This is same for every cycle of black protest mainly against racial profiling, xenophobia, police brutality, and inequality in the justice systems. Racism is more socio-economics. In other words, blacks in America need to step up their game. We can do much more than Ferguson Protests and Trayvon Martin’s memories. We can do more than remember slavery, complain of racism, and also begin to hate other people as we do ourselves. Beyond noise, what’s the strategy?

No one really respects you if they don’t think you have a backup

Being organised is everything. On the streets where the likes of Floyd die for an alleged 20 fake dollar bill crime, the Chinese, Indian and Italian gangs are bloodier than black gangsters (which by my view are even exaggerated in movies and Hip Hop). However, no one touches them recklessly. This is because they know that if they do, there are organised systems and people who will fight for them. It may even become an international issue as they come from a community that is powerful. This is one of the most powerful concepts. But let’s be real, there’s no real power without unity and progress. This means finance also.

You rarely can go far without a strong culture

Everybody has a culture. It is defined as a way of life. The truth is, some cultures are stronger than others. Culture is not biological, it is social, and this means it is not genetic but acquired through learning and passed through interactions and into generations. The Jews have one of the strongest cultures, that even though Christianity came from their background, they still embrace Judaism. The Arabs, Chinese and Japanese are where they are because they haven’t allowed any drastic European trend from eating up their core. I suspect that Africa after all its initial hoax will embrace gay laws and the LGBT community eventually than others, especially as it becomes “cooler”.

Keep watching. Black culture has a strong porous affinity for the material and short termed as against any other race. Therefore, the differences in development between say the white and a black society has nothing to do with superior intelligence but that of consumerism as against production. The reason why the white society is what it is today is due to the default stronger culture they were created with which involves the zeal to produce for exploration, innovation and adventure. The African default culture is different and lacks these three features. The African culture values tradition so much that they don’t give room for changes, improvement and innovation.

We are consumers, we rarely produce

Looking away from the window to the mirror, you’d see that something must be wrong with blacks and Africans at large. In America, they are the ones that spray money at strip clubs. In Nigeria we spray money at parties, we flaunt wealth more on IG and use “giveaways” to gain unnecessary attention. In this minimalist movement era, we still bask in the complexities of retail consumerism than any other race. While we rarely produce, we are the biggest customers of luxury and consumer products. Beyond being customers, we need more black owned businesses. We need not just individual wealth but an interdependence of our own empires. We need our own ecosystems.

Beyond raw materials and commodity trading, we need processes and processing. Take for example, Cote d’ Ivoire sells off Cocoa and then imports Chocolate. Sierra Leon sells off Diamond and then imports Jewellery. Even Nigeria, we sell off Crude oil and imports petrol!

Materialism creates consumerism. It’s a wild goose chase where the things you strive to own ends up owning you. Too many people in Africa spend money they don’t have to buy the things they don’t need, just to impress the people they don’t like. Most times, those people don’t even care.

Bitterness and resentment surround us

Nothing good is attracted to misery. I tell people, confront what you don’t like and let it go. Don’t keep spilling your misery on other people’s happiness. I get upset when Blacks hold grudges from 200+ years ago of slavery. That’s too deep for a progressive mind. Some people even blame it for their own personal backwardness, even if laziness and their personal ignorance was the cause. I hate it when the best and award-winning black movies always have to be tied to slavery. Media isn’t helping, because if you keep telling the same old story, you’ll keep living the same old life.

I can relate to marginalisation, for I come from the Eastern part of Nigeria. I am Igbo, we fought a very bitter Civil war In Nigeria to liberate Biafra. It didn’t work, and till this day, we have been marginalised. I totally agree. But what has politics done for the areas like say the North East whom their leaders have been on top, are they really living more in wealth, peace or prosperity than us? My point is, the past may either make you bitter or better. We may be politically irrelevant, but if we took out any atom of bitterness and faced what we have, our economic brilliance, creativity, wisdom and entrepreneurial spirit, we can collaborate more, we can buy back everything we lost and more, including power and that freedom if we still need it. Let’s build something tangible like the Jews have done, other things like power will align. It is just the principles of life. So, face your work, at least you have one.

Things can either drain or inspire you. Blacks are seen as violent, they hold grudges in the most undiplomatic way (they call it being real), but spending your time in holding a grudge or bitterness of heart is like drinking a cup of poison and expecting the enemy to die. It disrupts grace and inner peace. And both is needed as the octane to move forward. Blacks and any tribe that feels it is being discriminated against needs to move further, ahead.

Drop the grudge, pick up excellence

The best way to fight any form of discrimination is excellence. I stumbled upon a macro economic data; there is only 3 black CEOS in the Fortune top 500 companies. That’s less than 1 percent. But maybe that number will go up if we got more educated and stopped being more of entertainers. Or at least do something so well that they can’t find your replacement. Definitely, we all need connections to get into the big room. So, it seems. But the truth is, a man’s gift can make room for him. Be so good, that when you walk into any room, you won’t need an introduction. With this one, let me Cite Obama. He once stated, “there’s no black male my age, who’s a professional, who hasn’t come out of a restaurant and is waiting for their car and somebody didn’t hand them their car keys,” Obama once told People magazine.

His wife, First Lady Michelle Obama, added that her husband had also once been mistaken for a waiter at a black-tie party and someone rudely asked him for a coffee. Another one asked that he please gets them a glass. On both occasions, he didn’t take offense. He just smiled. Well, that was before he became president. Now, does anyone want to try the same stunt on him. Even then, he wasn’t offended more than he was inspired. He had a better plan to stand up. That plan was to allow his excellence to do that for him. Excellence is the best way to fight discrimination. In your journey to building black excellence, especially through business, I look forward to working with you.

Article by Eizu Uwaoma 

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Types of Business plan

. The traditional business plan uses some of the nine sections that make most sense to the business.
They include:
Executive summary
Company description
Market analysis
Organisation and management
Service or product description
Marketing and sales
Funding request
Financial projections
Appendix

2. The lean business plan projects fundamental facts about the company. The most well known is the Business model canvas, developed by Alex Osterwalder. Its features are:
Key partnerships
Key activities
Key resources
Value proposition
Customer relationships
Customer segments
Channels
Cos structure
Revenue streams

Browse about the types of business plans to choose the most suitable for your business.

Note: after conducting your research and you still don’t know how to write your business plan, consult the services of a professional.
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