Experts urge youths to build sustainable businesses, careers

To build sustainable careers and become better entrepreneurs, youths have been advised to embrace technology, innovate, become better at financial management and invest not just in their businesses and careers but in their personal growth.

This was the major thrust of this year’s youth empowerment programme organised by the Rose of Sharon Foundation with the theme, ‘Technology, Innovation, Financial Management and Investment: The Key Interplay for Career Growth and Sustainability’.

Many young people and small business owners, gathered not only to get career growth advice from experts but also to get a chance at mentorship. Head, of Customer Finance at Piggyvest, Ibukun Akinola, who spoke on embracing technology for career growth, said every business must look to solve a problem.

She advised the attendees to get good mentors, who would guide them and not be ashamed or afraid to fail. “Realise your limitations and know when to pull the plug. We did many things that failed before we built Piggyvest. Listen to your customers; innovate, experiment, be open-minded keep learning and network a lot,” she advised.

Speaking on investment opportunities for career growth, Dr. Olumide Emmanuel, advised that to succeed, young people must develop an investment mentality after securing their finances.

Explaining that the only portals for wealth creation are through entrepreneurship, investment and a good career, he revealed 17 industries that people could get into to create wealth, such as food, shelter, communication, transport, finance, tech, safety and security, manufacturing, leisure and entertainment, health and wellness among others.

Another speaker, Kehinde Omiyale, while addressing essential skills needed for employment and entrepreneurship, reiterated that Nigeria does not have enough jobs for its teeming youthful population.

He advised the participants on how to be employable, write a standout resume and job interview tips. On business ideas for people interested in startups, he said they must first identify local needs, leverage technology, look for market gaps and leverage local skills and resources.

Country Manager, Rose of Sharon Foundation, Dr. Ndudi Bowei, said the programme was fundamental to the development of young people to foster sustainability in business.

“In the current economic situation now where many companies are downsizing and shutting down, if one doesn’t have the edge, there will be problems. Another important thing we want them to know is the need to upskill, innovate, employ the use of technology, and learn financial literacy and management as well as investment skills. This will help with diversification and assist in meeting the demands of the current economy.”

Revealing that the rise in entrepreneurship can be linked to the high level of unemployment, she said data, however, showed that most of these businesses fail within one to five years due to several reasons. “Many people do not do in-depth research on the industry or sector they want to get into. I ask them how much they truly know and if they have spoken to people who have ventured into that business, on the challenges and issues they face or have faced, but they do not. Another factor that contributes to business failure is poor financial management, many people do not know how to manage money well or how to invest and if this is not corrected, the business would collapse,” she said.

A beneficiary of last year’s business clinic workshop, Elijah Moses, said the programme gave him not just information that guided him but also provided mentors who guided him. “Just recently, I applied for the Microsoft Startup Hub programme and won $150, 000 startup credit and $1000 Azure cloud credit to help me build at little or no cost. Programmes like this are important as they give new information and increase your lens of awareness,” he said.