The Managing Director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, has advised entrepreneurs in the country, particularly the young ones, to explore emerging opportunities in order to grow their businesses.
Okonkwo gave the advice at the Business Entrepreneurship Empowerment and Professionalism (BEEP) conference organised by the bank in conjunction with Flame Consulting Ltd in Lagos.
The seasoned banker, who was represented by the Regional Head, Ikeja branch of the Bank, Mr Ken Opara, said that entrepreneurs should embrace collaboration and take advantage of shared services and offerings.
While urging the young entrepreneurs to avoid expenditures that could eat deep into their money without potential commensurate returns such as renting a space for business when the time is premature, Okonkwo said this was unnecessary
“You don’t need to rent a building before you start a business, take advantage of shared services and offerings’’, Okonkwo said.
Identifying talent as the most important tool for managing business and that an entrepreneur with great talent would succeed, he also harped on the need for a good business plan to be put in place, describing it as a roadmap for a successful business
Okonkwo quipped: “A business plan is not about having a consultant, you must know why you want to enter a business.”
On his bank’s initiatives to support genuine entrepreneurs through credit, he disclosed that in addition to its current credit windows, Fidelity Bank would launch an Enterprise Development Fund in March for businesses with high sustainability.
One of the speakers at the forum, Mr Aruosa Osemwengie, , said that organisations were looking for resourceful persons and not just anybody and therefore advised participants to exhibit skillful business traits and capabilities in order to get support for their enterprises.
Osemwengie, who spoke on “Find and Keeping Your Great Job,’’ said that entrepreneurs must market themselves online, offline and on the job as well as start with what they can do to grow their businesses.