Builder's Hub Impact Investment Program - Creativity & Collaboration

OYIZA ADABA | AFRICA-RELATED NIGERIA

A COMMUNIQUE ISSUED AT THE END OF THE ONE DAY SEMINAR FOR ENTREPRENEURS.

THEME: CREATIVITY and COLLABORATION:
Key for Successful Entrepreneurship Growth in Nigeria’s Ecosystem.

VENUE: ABUJA ENTERPRICE AGENCY

DATE: JAN 19, 2017 @ 10:00am.

We herein appreciate all participating agencies and participants. The success of this seminar could not have been possible without your immense contributions to this seminar.

This communiqué has been compiled using a feedback questionnaire of start-up and existing enterprises whose participation was upon a carefully selected nationwide application process aimed at forging an interaction amongst stakeholders in the Nigeria’s entrepreneurial ecosystem. The general overview and concerns captured below are based solely on the information provided by the participating government agencies and institutions duly represented.

Abuja Enterprises Agency

All participants (private and public) were appreciative of AEA’s generosity in hosting the event free of charge. Mr. Chudi Ezerigwe explained the functions the agency proffered to MSMEs particularly those situated in the Federal Capital Territory while extending reassuring words of encouragement to every enterprise. However,

1. 90% of the participants residing in Abuja herad about AEA for the first time. More effective presence needed especially at the Micro levels.

2. 70% wanted AEA to liaise with SMEDAN on regional and state engagements for more impact

3. More information and continuous information will be needed about AEA on radios and in local dialects. This is because most MSMEs are located in the outskirts of town and where print media isn’t as available and effect as their radio stations.

SMEDAN

That Dr. Friday Okpara of SMEDAN spoke quite interestingly on the established responsibilities of the agency as it relates relevantly to the growth of Small and Medium enterprises but 80% noted that;

1. SMEDAN is not an effective one-stop-shop able to cater to their start up and business scaling needs. Meaning that, they are further referred to other agencies for e g funding, certification etc. 100% wanted more effectiveness at regional levels.

2. SMEDAN should incorporate Micro businesses in their schedule of activities

3. SMEDAN is too important to be too distant from the grassroot enterprises. Regional and state offices must be more effective.

4. SMEDAN should liaise better with all other agencies and collate all MSME offers for easy dissemination.

5. More sensitization for start-ups and existing entrepreneurs needed nation-wide.

CAC

That Hajiya Hafsat Denge of Sokoto CAC brought to light good initiatives CAC implemented to ease the means of ‘new business registration; however 72% of the participants were of the view that;

1. 10,000 naira for Business name and Company registration is still too expensive for Mirco and Small businesses.

2. Fee waivers for other corporate filings and certifications should be considered for the Micro and Small businesses.

3. To embark on impactful awareness programs to inform the general public about the various rates of the agency’s services and general procedures; the absence of which leaves room for fraudsters.

Growth and Employment

Participants were extremely impressed with the Project Coordinator, Mr. Y.S. Labaran’s lectures on GEM grant and capacity building initiatives but 100% think that:

1. With the high percentage of start-ups in Nigeria, GEM should broaden their acceptance criteria to include start-ups. The 6 months and 5 staff workforce minimum requirement is too stringent.

2. That there should be more awareness created on the GEM program nationwide. 3. As GEM rounds up operations in a year, are there follow up plans?.

Nigeria Export Promotion Council

Director, Barrister George Enyiekpon’s thorough briefing of NEPC role and incentives towards promoting export of Nigerian made goods was highly appreciated by all participating enterprises. However, 90% opined that:

1. NEPC should conduct more grassroot awareness, as lessons on export preparedness need to be learned from the early stages of business.

2. NPEC should aggressively promote the acceptability of Nigerian made goods in foreign lands. Exhibitions and adverts would go a long way.

3. Hands-on capacity building programs must run frequently and regionally for better understanding on product quality, packaging etc necessary for the international markets.

4. NEPC should form strategic alliances with foreign countries and organizations geared towards promoting trade from African countries such as AGOA, Fairtrade, CBI etc and make such information available to the Mirco and Small businesses at the grassroots level.

Bank of Industry

Mr. Tolulope Toluwase of BOI’s presentation was very informative and easy to digest by 100% of the participants. However;

1. The “single digit” 9% interest rate was not feasible for Micro and Small businesses. On the average, participants opted for 3% as an acceptable interest rate.

2. In line with the current high number of start-ups, BOI should consider conducting more business management workshops nationwide possibly in each state on a continuous basis.

3. Cash and tools/ workshop financing packages should consider start-ups.

4. BOI should interact more with SMEDAN and other capacity building service providers.

National Board for Technology Incubation

The impressive presentation of the DG, Dr. Jibrin was appreciated by all participants. However;

1. 100% of participants were not aware of NBTI’s existence. This is a huge problem.

2. That NBTI should be more present in the lives of businesses at ALL levels by establishing business Incubation centres in each state and specialized Incubation centres regionally.

3. A lot of sensitization of NBTI’s functions should be aired on electronic media especially radio in local dialect for grassroot reach out.

4. To liaise more with SMEDAN and other private and public service providers.

Standard Organisation of Nigeria

Mrs. Usoso Uduak gave an enlightening overview of SON’s function and certification support activities. All Participants were greatly impressed with the responsive initiatives set anew by the DG Mr. Osita Aboloma, however;

1. 90% of the participants were not aware of the incentives such as reduced certification rate, 50% waiver of laboratory fees etc. More awareness needed.

2. SON should create a booklet of Nigerian own standards serving her unique products such as palm wine, canned pepper soup, Kunu shakes, natural herbs etc.

3. 95% were worried about the certification bureaucracies setting Ghana, Kenya and Ethiopia as examples for an easier product certification serving export markets.

4. 100% asked for greater awareness at state levels since that’s where most Micro and Small businesses reside.

5. SON should liaise better with NEPC and NAFDAC to avoid process duplication.

6. Micro business and corporative should have special services. They are the most vulnerable.

7. Training seminars and workshops should be frequently conducted around Nigeria.

8. Mores responsive to start-ups and better feedback to the general public is needed frequently.

NAFDAC

Participating entrepreneurs appreciated the information shared with them by Mr. Bashir, but;

1. 100% are of the opinion that a dedicated MSME section should be created as they make up more than 70% of the business population.

2. Certification requirements are not realistic for Micro and Small businesses. N10,500 inspection fee, 21,000 laboratory test per product, 21,000 certificate issuance fee etc is too expensive.

3. The demand for modern equipment to be used for the production of indigenous local products is worrisome. To capture the essence and flavour of tradition, hygienic old methods must be permitted.

4. NAFDAC should consider relying on SON’s product laboratory test where applicable to avoid double dipping of costs.

5. There should be real time grassroot interactions between Micro and Small enterprises and NAFDAC.

6. Liaise with SMEDAN, NBTI, NOA and other relevant agencies.

7. Effective awareness creating seminars and capacity building workshops are needed nationwide and very often. Use electronic media to educate the public in local dialects.

BHIIP

There was tremendous applause to BHIIP for its efforts in conducting such an engaging and interactive seminar which brought together under one roof, many regulatory agencies, business support institutions and enterprises of all facets to learn and brainstorm on how to strengthen through creativity and collaboration, the Nigerian’s ecosystem.

1. That BHIIP should ensure follow up with all regulatory agencies to ensure their concerns are adequately captured and implemented for the overall success of businesses in Nigeria.

2. BHIIP should conduct more of such seminars not only in awareness creation but also capacity building.

3. The free seminar encouraged participation of financially struggling start-ups. This free education must be encouraged nationwide for an effective grass root impact.

4. That BHIIP should serve as a bridge in forging a healthier entrepreneurial ecosystem with special input from the Mirco and Small businesses to promote effective bottom-top holistic framework in relation to funding, standards, knowledge and market.

5. There was an overwhelming agreement on the suggestion that BHIIP should be a private liaison body between the enterprises and the government agencies and business supporting institutions. Here, information regarding all manners of funding options, certifications, trainings and seminars would be obtained under one roof. This shall also be a channel where real-time service and need feedback shall be disseminated.

BHIIP’S IMPLEMENTATIONS

We acknowledge that positive impact cannot happen in isolation, it requires a collective action of all the stakeholders working together in harmony. Therefore, in line with the aforementioned observations and concerns, BHIIP shall establish an Enterprise Builder Hub, which shall serve as a network where entrepreneurs connect with systems and programs to critically think, communicate, create and collaborate their businesses into success.

Enterprise Builders Hub shall be an innovation lab, business incubator, and market generator for Nigerian made goods and services. To this, we shall encourage membership from start-ups and existing entrepreneurs to effectively benefit from our unique ecosystem of resources, inspiration and collaboration opportunities amongst themselves and agency stakeholders.

BHIIP is already in partnership with SMEDAN, being the foremost government body promoting enterprise growth. We are in the process of finalizing a partnership with AEA and will require to partner with all other agencies and institutions relevant to catalysing impact in the entrepreneurs ecosystem.

We at BHIIP believe that a better world evolves through the combined accomplishments of committed and compassionate people focused on a common vision – to promote entrepreneurial development and industrialization of our country Nigeria.

Signed By Participants