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THE ENTERPRENEUR:

The life of an ENTREPRENEUR is not to be Envied, every stage has it's own challenges, he thinks it through alone, Source for funding alone, when the business is standing everyone wants him dead, the government bring in all kinds of taxes and levies, the staff constantly strategies to steal, the competitors wants to drive him out of market, even the customer is a fair weather friend. He looses sleep because he is carrying too much burden of his enemies but he has to live with it as he cannot do without them. If the business fails everyone leaves except him. Hmmmm, clap for Aliko Dangote and others ,the journey is not an easy one...
Who is an Entrepreneur?
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new business ideas.

Becoming an Entrepreneur

While there is no one “right” way to become an entrepreneur, the general career trajectory usually looks something like this:

Develop an idea for a unique or in-demand business.

Learn about and gain experience in a range of business roles, including finance and accounting, management, and marketing.

Make a business plan and establish a source (or sources) of funding.

Recruit talented workers and managers with the skills needed to develop, test, implement, support, and maintain the company’s products.

Most of the times Entrepreneurs starts alone , combining all roles from cleaner to MD, performing all the duties due to lack of financial power to effect payment of employees.

Devise strategies for launching the product or service, and for attracting and retaining customers.

Once the company is established, seek out ways to grow revenue by expanding into new areas and product lines. Most of the funding for expansion is sort through loan, crowd funding, or equity investment.

As the company matures and attain a level of financial stability, round pegs in round holes are sort after and employed to realize the business goals.

Businesses in Nigeria are categorized into Micro, Small and Medium Enterprises (MSMEs). These MSMEs play a big role in the Nigerian economy and economies around the globe. MSMEs outnumber large companies by a wide margin and also employ many more people. SMEs are important for economic and social reasons, given the sector’s role in employment.
SMEs are also said to be responsible for driving innovation and competition in many economic sectors.

In Nigeria, most micro businesses are often owned and managed by sole operators. Lets take a quick overview of the status of MSMEs in Nigeria and how they make an impact on the country’s economy.

What is an MSME?

The definitions of micro-business, small business, and medium business depend on the country and who is defining the terms. In Nigeria, Micro Small and Medium Enterprises (MSMEs) are generally referred to as enterprises with up to 250 employees.

The definitions of small and medium enterprises are as follows: –

Micro Enterprises: between 1 and 9 employees.

Small Enterprises: between 10 and 49 employees.

Medium Enterprises: between 50 and 249 employees.

Population of MSMEs In Nigeria

According to the Ministry of Industry, Trade, and Investment, Nigeria has over 37.07 million micro, small and medium-scale enterprises, MSMEs, and they account for more than 84 percent of total jobs in the country. The ministry also claimed that the MSME enterprises in Nigeria also account for about 48.5 percent of the gross domestic product, GDP, as well as about 7.27 percent of goods and services exported out of the country.
Based on the total numbers of MSMEs in Nigeria, Micro Enterprises account for the bulk with 36,994,578 enterprises (about 99.8 percent), while small enterprises took 68,168, and medium enterprises 4,670. Lagos, Oyo and Kano State are the top three states in Nigeria with the highest number of MSMEs in Nigeria.

MSMEs Benefits to Economic Growth

Most economies, particularly those of developing countries like Nigeria, march on the shoulders of small and medium-sized businesses. This is because MSMEs are characterized by dynamism, innovations, efficiency, and their small size allows for a faster decision-making process.
The benefits of MSMEs to any economy are easily apparent, they include:

Contribution to the economy in terms of output of goods and services;

Creation of jobs at relatively low capital cost, especially in the fast-growing service sector;

Provide a vehicle for reducing income disparities;

Develop a pool of skilled and semi-skilled workers as a basis for future industrial expansion;

Improve forward and backward linkages between economically, socially and geographically diverse sectors of the economy;

Provide opportunities for developing and adapting appropriate technological approaches;

Offer an excellent breeding ground for entrepreneurial and managerial talent, the critical shortage of which is often a great handicap to economic development, among others.

SMEs are believed to be the engine room for the development of any economy because they form the bulk of business activities in the economy.

What is AGSMEIS?

The Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) is an initiative to support the Federal Government's efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development

Requirements to qualify for loan.
A registered company or business name.
Detailed business plan.
EDI Training certificate.

You are a few steps away from obtaining the 10 million naira business loan with single digit interest rate.

Look out for my next post on a schedule training to obtain THE LOAN REQUIREMENTS ABOVE.
For enquiries contact.
Ojumu Emmanuel 07047432332.

PINEAPPLE FARMING

Wish to set up a business of your own and still having difficulty picking the right niche? Then this article will be quite helpful for you! Read it till the end, and you will be craving to plant pineapples. The advantages of the business, pineapple cultivation, farms, varieties and even much more are described here.
Pineapples rank second on the list of the most consumed fruits in the world and constitute up to 20 % of the world’s production of all tropical fruits. Approximately 70 % of all grown pineapples are eaten fresh by residents of the countries where they grow. Brazil and Paraguay are homelands for this fruit, and these was where pineapple was discovered for the first time.
The leading producers of pineapple are Nigeria, Brazil, China, Thailand, the Philippines, India, Mexico, Costa Rico, Indonesia, and Kenya. These countries are responsible for the production of pineapples for global use. Hawaii is one of the world’s largest producers and suppliers of the fruit. It mainly supplies the USA and Japan. Since the 1960s, the level of pineapple farming has increased dramatically. The fruit popularity in the whole world can be explained by the breeding of new species, in particular, one that is referred to as ‘Gold’. This sort was ‘born’ in Hawaii and became widely popular in the 1970s. Since then, the global volume of canned pineapples trade doubled. Nowadays one of two ripe fruit is sold. The rise of consumer demand for fresh pineapples and juice has made it such that the business is profitable for both large and small corporation.
How to plant pineapple? A pineapple is a very typical tropical fruit. Everyone knows what it looks like and how it tastes, though the process of planting and harvesting is unknown to most people. To become a professional in pineapple farming you should first understand all the peculiarities of the plant. Let’s take a look at the issue in a more detailed way and get to know what this special plant really is Pineapple is a tropical perennial and herbaceous plant. When mature it can reach up to 2 meters in height, on the condition that it grows on bare land. The plant has got a flat, squat stalk and firm foliage. It looks more like a bush than grass.
It grows rapidly after planting. Its stalk becomes thick and possesses dozens of intertwined leaves. Pineapple foliage is narrow and pulpy with sharp barbs on edges. As a rule, they reach up to 70 cm in length. Due to this, the plant may easily go through dry periods. Its special leaves structure is very helpful because they absorb large quantities of fluid. After a year or so of robust growth, a pineapple starts blooming with many spike-shaped flowers on the top. Its blossom is hermaphrodite. As for colours, pineapples may be violet, red, yellow, etc. according to the variety. Every flower produces a berry. The pineapple berries grow and become juicy. Eventually, they join together and form the fruit that we are accustomed to seeing on store shelves. That is why it has got such an odd ‘cell’ look.
If the pineapple flower was pollinated, the berry might contain tiny seeds that affect the fruit negatively, in particular, its edibility and price. Pineapple farmers try their best to get rid of the plant's pollination. In the wild, hummingbirds pollinate the plant. After the ripening process is completed, a pineapple gets new shoots from leaves ‘bowls’. They are often used for vegetative propagation. If you reduce these side appendages, the plant will blossom and bear berries sooner. After the second harvest, farmers uproot pineapples and plant new ones in their place. In addition to the situation where side shoots of pineapples are reduced, farmers frequently make use of the seeds and the plant top too. As for the top of a ripe pineapple, it is a distinct crown of young leave. It is very possible that it may turn to a ripe fruit under the right conditions.
How to breed pineapple? This exotic fruit can be bred in several ways:
1. Using the tops of the fruit. If you cut the top and plant it in bare soil or even into a flowerpot, the ‘topknot’ will take roots in some time.
2. Using side shoots. These seedlings are cut when they lay down roots.
3. Making use of seeds.
The seeds are in ‘cells’ under the peel of the fruit and look like apple seeds. They are collected only in overripe pineapples. Undoubtedly, the plant will grow. However, it will only bear fruit after a few years.
We will take a look at pineapple production in Nigeria and also processing.