EO urges review of business entry barriers, educational system

The Chairman, Global Board of Directors of Entrepreneurs’ Organisation (EO), Ivan Ting has urged the Nigerian government to reduce business entry barriers to encourage entrepreneurship and the overall economic development of the country.

Besides, it should review its education system that would produce graduates with capacity for innovative ventures and viable businesses in the long run.He made the call in an interview with The Guardian during his visit to the Nigerian Chapter of EO as part of his African Tour.

EO is a global business network of 12,000 leading entrepreneurs in 160 chapters and 50 countries who own businesses that generate a minimum of $1 million turnover annually.
Ting, a member of EO in Hongkong restated that the Nigerian government should review the country’s educational system as it was done in Honkong by building long-term education structure that would develop capacity for entrepreneurs to excel with modern technology.

“They should grow skills that would not require huge capital to start, but ideas and innovative mindset. We must look into how to educate our children so that they are not only good in English and Mathematics, but be creative to be able to bring out the required innovation and entrepreneurship”.

Ting, who was excited about the huge potential, opportunities and natural resources in Nigeria, said there was plenty to explore in the country in mind blowing proportions.
Also speaking, Fred Johnson, member of EO from the United States and also a member of the global board of directors for EO said what is exciting about Nigeria is the innovation its members bring into their businesses, either in telecommunications, oil and gas and their ability to apply them to local culture to suite the people and consumers.

Johnson called on the government to reduce the barriers and paper works required for businesses start-ups. His words: “Government should make the rules clear, consistent and set the same rules for everyone. In my locality, my business is highly regulated so I have guidelines to comply with each day, but as long as those rules remain clear, defined and required for all, then it is fair.

“But if the rules and regulations become capricious and are changed or manipulated by those who have money, power and influence, then it is not fair. I will encourage the government to clarify requirements and hold everyone to the same standards.”

He said government should also build the necessary infrastructure so that people can bring their ideas to bear on their businesses, because without necessary infrastructure no economy booms.

Outgoing President of EO, Lagos Chapter, Funmi Babington-Ashaye, said the organisation which was founded in 1987, is focused in helping its 12,000 carefully selected members globally build their entrepreneurship capabilities through robust exchange of ideas.