‘Young People Should Start Businesses To Drive Economic Growth, Create Employment’ – Folabi Esan, Partner, Adlevo Capital Managers

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With entrepreneurship becoming a major drive that drives economic and national growth, young people have been urged to see the opportunities in entrepreneurship and venture into it.

The call was made at the recently held Entrepreneurship Masterclass (4.0) organized by the Junior Chamber International, Lagos Coral.

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Speaking during the class, Partner, Adlevo Capital Managers – Folabi Esan said that entrepreneurship is about taking hold of opportunities where people don’t have the resources but they believe that they can make things happen.

In a report released recently by PwC, Nigeria’s SMEs contribute 48% of national GDP, account for 96% of businesses, and 84% of employment.

According to the Nigeria Bureau of Statistics, small and medium scale enterprises (SMEs) in Nigeria have contributed about 48% of the national GDP in the last five years.

“With a total number of about 17.4 million, entrepreneurship accounts for about 50% of industrial jobs and nearly 90% of the manufacturing sector, in terms of number of enterprises”

JCI Coral’s Entrepreneurship Masterclass that started in 2017 is an annual business symposium and a flagship business incubation hub that brings industry thought leaders across all geographical regions in Nigeria with the sole aim of equipping and empowering the ecosystem of entrepreneurs with the mindset and spirit of entrepreneurship.

Through its different series, it has drawn participants from several states and has created over twenty businesses that are providing various employment opportunities.

The fourth series tagged “EMC 4.0” came with a different blend that gathered eight mentors from different sectors to mentor mentees from their sector.

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According to the President of the Local Organisation, Daniel Nnadi said that the mentorship section of the class is expected to run for three months through virtual and physical meetings which at the end will have the participants graduated with a certificate of participation.

“Our Local Organisation is delighted to transfer the knowledge of the master to entrepreneurs bringing different mentors to anchor the master class”

Giving more credence to the Masterclass, the Immediate Past President of the Local Organisation, JCI Senator Chinonso Okocha said that the Local Organisation was so proud to organise the program.

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“Knowing that entrepreneurship runs the economy. We have tried as an organization to put forward entrepreneurship masterclass to enhance and develop people to build capacity to become great”, Okocha said.

 

 

 

 

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