According to a Micro, Small, and Medium Enterprise report in 2022, 80% of MSMEs in Africa fail in the first five years of being operational despite the major economies on the continent having a high rate of entrepreneurship.
Nigeria, the most populous nation in Africa, reportedly has about 46.4 million business owners out of a population of over 200 million. The scale of this figure should rightly translate into a reduction in the unemployment rate in the country, but the reverse is the case, for about 33% of its working-age population is currently jobless.
A similar situation is seen in other African countries and has led to large-scale poverty and increasing crime rates. This has contributed to a wealth divide that continues to feed an infinite loop of economic constraints affecting the bottom segment of the population with dire socio-economic consequences. Experts and economic planners have recognised the urgent need for business development strategies to increase employment and bridge the wealth gap successfully.
Emeka Ezekwe, a Nigerian-born business owner, is one of the few people on the continent who have built a successful business that continues to thrive despite the odds. With a wealth of hands-on experience and knowledge in the development and operations of a business, he understands precisely where the challenges are and have identified the bottlenecks that limit the success of entrepreneurs.
Not satisfied with being one of the few success stories in the region, this astute businessman has embarked on a journey to share the knowledge of starting and running a successful business. Africa has been identified by established investors and entrepreneurs as a pot-full of economic projections and opportunities, yet, business analysts and strategists continue to question the business development skills of entrepreneurs in these countries.
These experts have suggested that one of the solutions to bridging the unemployment gap in these countries is to ensure that businesses are sustainable and built to outlive their founders. And this intrepid guru has words of wisdom for all aspiring entrepreneurs: ‘Entrepreneurship, Idea generation, Business’.
For more information about Emeka Ezekwe, visit https://www.linkedin.com/in/emeka-ezekwe-7622ba28/, www.instagram.com/hidden_moni, https://www.facebook.com/emeka.ezekwe
Every business begins with an idea. Whether a new and innovative endeavour or founded to fill a gap in the value chain, the objective is the same—to create a profitable business. All businesses are focused on monetising innovative products and services.
However, a good business plan requires a multidisciplinary team that encompasses all functional areas of a business. By bringing together competent people with the requisite skillsets to generate novel ideas and cost-effective solutions, an entrepreneur stands the best chance of conceptualizing a bankable business and executing the plan effectively.
Internally, the self-belief, drive, and conviction to succeed is a pre-requisite for any would-be entrepreneur, besides having a good nose for business. Regardless of the industry, the fundamentals of the business remain constant. But externally, there are many factors to consider—analysing market trends and demographics, identifying key stakeholders within the value chain, and negotiating favourable terms. Thus, for the aspiring entrepreneur, seeking the advice of a proven mentor like Emeka Ezekwe will make a difference.
About the Organization
Emeka Ezekwe is a seasoned business strategist who understands the rigours of business. Having founded a successful oil and gas business in his home country, Nigeria, he is passionate about mentoring and coaching young entrepreneurs on the finer points of starting a business.
Media Contact
Company Name: EMEKA EZEKWE
Email: Send Email
Phone: (+234) 8037111737
Address:Plot 1, Road 12 Naf Harmony Estate & Plot 13 Trans Amadi Layout
City: Port Harcourt
State: Rivers, 500272
Country: Nigeria
Website: https://www.hiddenmoni.com