Experts warn business starters to be mindful of government policies
Experts have warned persons intending to start businesses to study government policies in their area of interest, to avoid failing from the start.
Speaking at maiden edition of ‘messed up conference’ organised by SMEpeaks, the experts noted that politics in policymaking impedes business growth.
According to a tech product developer, Olaniyi Adeosun, government policies are major determinants of whether a business will thrive or not.
“That is what the role of government is in promoting business. So, if government does not provide framework and policies for businesses, they will never thrive.
“Unlike the United State that has a structure called, ‘Small Business Administration’ people who have retired and have cultivated experiences in businesses are employed to help entrepreneurs grow their business. Our government needs to do the same,” he said.
Olaniyi, who decried dangers of political instability to business growth, urged the legislative arm of government to defend the interest on business owners in the country.
He added: “The legislature needs to engage business starters and know their challenges in order to inform the executive that life is not easy for starters in Nigeria, and what is needed to be done to things work better. People are closing down businesses everyday, some are leaving the country.”
He appealed to the Federal Government to direct the Small and Medium Enterprises Development Agency (SMEDAN) to commence empowerment programmes to enlighten business starters and aspirants on government policies.
“Federal Government should hire people who are skilled to train starters with business plans and structures. This jump-starts the whole idea of the business and grows the economy which enables entrepreneurs employ people.” Olaniyi said.
Also, a property developer, Olanrewaju Oyenuga stated that the will of making an impact in the society should be the first item in the priority list of an entrepreneur.
Oyenuga, who likened intent of starting a business to conceiving a pregnancy that needs to be nurtured, said it is disheartening that Nigeria lacked conducive environment to bring great ideas into fruition.
He explained that the environment in Nigeria is hostile to entrepreneurs, adding that most people in government are not helping due to personal interests and not of the masses.
Oyenuga appealed to government to go beyond, “forceful collection of taxes” but use funds appropriately to create an environment suitable for businesses to thrive.
Founder of SMEpeaks, Grace Akinosun said the conference was organised to encourage persons who are traumatized of a failed business experience that “failure is a process of success.”
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