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By Brown Chimezie
Managing Director/Chief Executive Officer of Japual Oil and Maritime Services Plc, Mr Jegede Paul, has charged young entrepreneurs in the country to persevere, work hard, study and be ready to take their businesses to the next level.
He spoke at a seminar that was organised by Masterpiece Resource Development Centre (MRDC), a centre dedicated to training entrepreneurs and assisting them to scale, on 22 February 2023 with the theme “Access to finance” with the objective of helping entrepreneurs to access funds.
The event was held at the centre’s headquarters in the Ilupeju area of Lagos State.
Mr. Paul narrated how he started his company with N40,000 and the challenges he faced in growing into a multi-billion public limited company.
He stated that one needs to study the business one wants to venture into in order to succeed. According to him, knowledge is key in succeeding in business.
He called on young entrepreneurs to look for opportunities and solve problems in the community.
He called on young people not to be in a hurry to spend their revenues on luxury goods, adding that they should invest more in the business.
The managing director of Japaul Plc counseled young people to diversify into other areas when the opportunity comes.
Ini Animbola, the Founder/Chief Executive Officer of Praixis Consulting, stressed the need for entrepreneurs to have self-belief, adding that young entrepreneurs should have a strategy to grow the business despite the odds.
She said that one needs to have integrity to succeed in business, adding that people who want to succeed should “let people know what you stand for and your word should be your bond.”
According to her, the objective of the business should not be to just make money but to create wealth.
“Wealth is a choice; it is a state of the mind; money is not wealth. Wealth is relationship; wealth is network; wealth is ability to deliver to your products on time,” she asserted.
Abimbola said that people should first invest in their business before asking other people to invest in the business. She also taught attendees how to raise finance for their businesses.
She also told them to consider selling a part of the business in order to raise finance for expansion.
The consultant stressed for entrepreneurs to tell the truth about their businesses in the bid to raise funds.
MRDC is a faith-based organization that is committed to Africans in youth and entrepreneurial development so that they can create and maintain businesses that will reduce unemployment and poverty on the continent.
Mrs. Taiwo Olaniyan, Manager, Business Development at the Lagos State Employment Trust Fund, explained the types of loans that the agency gives to entrepreneurs.
However, Mrs. Modupe Oyekunle, the executive director of the centre, urged the participants to act on what they learnt at the event to create wealth for themselves and their communities.
