11 Jul 2013

Business: Fueling the Entrepreneurial Engine

To help support entrepreneurial growth in Nigeria, a group of entrepreneurs gathered in Lagos to share knowledge and learn from one another, writes Adeola Akinremi.

“The first thing that I have been able to realise is the opportunity for entrepreneurs in Nigeria. The first thing is the population, the size, and the potential of the economy. It is enormous,” said Julia Langkaer, a London, United Kingdom-based member of Entrepreneurs’ Organisation(EO).

“I see how entrepreneurial organisations have grown in other countries and I thought they could really help Nigeria specifically, because they started a chapter in Lagos.”


That way, Langkaer, a certified global trainer inspired Nigerian entrepreneurs to hope and further their desire for a change in the country. For two days last week, members of the Nigerian chapter of the Entrepreneurs’ Organisation gathered in Lagos to further their commitments toward providing opportunities that will help grow the economy and importantly for a peer-to-peer guidance required in managing business.

Such a meeting called strategic by Langkaer helped the EO to provide excellent opportunities to give back, mentor others, and find resources to help businesses succeed.

“There are three things that entrepreneurial organisation does: It puts entrepreneurs in the same room and gives them a structure or a protocol that they can learn from each other and it also connects to experts when they need it, and it gives them access. So, I thought if we could get the chapter started here in Nigeria, and specifically Lagos, it could affect how entrepreneurs grow their businesses. And if we can grow businesses quicker and bigger, we can employ more people. If we can employ more people, we can have an effect on the economy,” she enthused.

Dele Agekameh, the Chief Executive Officer of Quicklink International Network who doubles as the spokesperson for EO agreed with langkaer’s point of view. He said:”I’ve always been engaged in some form of ‘buying and selling,’ especially in my early years. In middle school, I started designing and producing seasonal greeting cards for sale—that was rare among my peers at the time. This was the starting point for me. And collectively, with other entrepreneurs one is involved in creating wealth that helps to move the society through the provision of gainful employment. It’s satisfying being able to contribute positively to the progress of humanity”

The EO, a global business group with network of more than 8,000 business owners in 40 countries launched its Nigerian chapter in Lagos in 2012 and has continued to seek ways to help change the status quo.
According to Agekameh, EO enables small and large business owners to learn from each other, leading to greater business success and an enriched personal life.

The vision of the organisation, he said, is to build the most influential entrepreneur community, which aligns with its mission of supporting entrepreneurial education and engaging entrepreneurs to learn and grow in a creative and competitive business environment.

"We are creating a global community committed to enriching members' lives through dynamic peer-to-peer learning, once-in-a-lifetime experiences and connections to experts. The EO - for entrepreneurs only - is dynamic and is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life," he added.

He said: "The clear difference that made EO stands out is that our members identify opportunity and pursue it. They are not setting up businesses because of job loss or out of necessity and that is why we are at the heart of development. Entrepreneurs are the people that create businesses. Without entrepreneurs, you cannot expand the economy.

"You need entrepreneurs to run the economy of the country. You cannot run the nation's economy with civil servants. Those who create real wealth are the entrepreneurs. Now with EO coming on board, I think there would be free flow or inflow of investments in the next few years. A lot of them are already making inquiries.

"We are going to have interface with the government. We are going to advise them, we are not trying to create a scenario or solution that is very difficult to achieve. We are going to tell them (those in government) our experiences; we are going to tell them that in budget formulation and everything, the government should put the private sector into consideration. All tiers of government should do this. It is the local government that should even drive development in this country because they are the ones nearest to the people," he said.

Agekameh, who manages a chain of businesses in hospitality and publishing in Nigeria, harped on responsible business management. He said, "It may take you 20 years to become a CEO of an organisation, or to build your own company. But you find out that if you mismanage it, if you don't put best practices in place, within two months or even two days, you can be down if care is not taken.

"So, this organisation enables you as an entrepreneur to maintain a foothold, a stronghold on your businesses by teaching you the best practices; they teach you how to sustain your business, they teach you about succession - because in case of Nigeria, you find out that many businesses die as soon as their owners die. It is because they don't have good succession plans or methods in place. Even some of them don't go out of their way to employ capable hands to manage their books. This is what EO is all about," he added.

For AbdlRasak Shittu who is the current president of EO, “the organisation is basically the justice league of the entrepreneurial world. This group has it all – not only do we offer forums and personal advice on a national scale, the organization also supports the aspiration of its members. It’s the ultimate toolbox for entrepreneurs.”

Last year, EO celebrated its 25th anniversary with events around the world, which highlighted the growth of entrepreneur network and its role in the lives of members everywhere.

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