Proshare Logo
   Market Date: 28-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Final year students engage in biz plan competition

Category: General

  Read (1619)
Final year students engage in biz plan competition

September 08, 2005/Source BusinessDay



Achievers\' Consortium International, a christian organisation at the University of Benin with the mission to transform the university environment into an economically viable one is holding a business plan competition for final year students.

The business plan competition which is one of a number of activities lined up for the Final Year Students\' Summit is scheduled to hold on Wednesday, at the Banquet Hall of the university.

Telcy Okundia, the executive director, Business/Economic Team of the consortium said last Wednesday that the consortium intended to overturn the trend whereby 80 per cent of graduates got into the labour market and remain unengaged for prolonged periods.

Okundia, who is a 300 level student of the university, says entrepreneurship holds the key to graduate employment in Nigeria. Entrepreneurship, he says, contributes grossly to growth of the GDP of any nation. The consortium therefore aims to kindle the fire of entrepreneurship among undergraduates and graduates through this summit.

They have therefore made plans for resource persons from Fate Foundation to assist at the summit. The entries on the business plan competition will be screened and winners selected by resource persons from Fate Foundation.

Okundia says the intent of the business plan competition in this conference is to ensure that the students who would soon become graduates have done their business plans. He says they would have conducted research which involves their market survey. They will have a good idea of the marketing strategies and the profitability of the businesses they would undertake.

He says if students already have on paper what they want and how they hope to achieve it, they would be able to ensure that they get returns on their investment. This, he believes, would also grant them access to venture capitalists or other investors to look into the plan and determine if the business is a viable investment platform for them.

The consortium plans to get in touch with officials of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to give resource materials and address the participants.

On the issue of bank consolidation, he says banks are under capitalised and have not been able to fund SMEs adequately. He believes that when Nigeria has stronger banks, the economy will be stronger and undergraduate entrepreneurs would definitely benefit. The business community of students on campus expect that the recapitalisation of banks will be favourable to them. Okundia says banks\' undercapitalisation has been one of the reasons they cannot afford to risk funding SMEs. \"With stronger banks, we can have stronger economies\", he added.

Okundia reveals that many students who are part of the Achievers\' Consortium International are actively engaged in business, running their businesses alongside their academic programmes. He says so far, they have not had academic problems as students who have entrepreneurial tendencies take things more seriously. He also expects that as the spirit of entrepreneurship is strengthened on campuses, it would reduce such anti-social activities as cultism.

He advises the University Council to work out a curriculum which will include Entrepreneurial Development Studies (EDS) as is being practiced at the Covenant University in which students study 100 business management thinkers. He says if there cannot be an independent course of study on entrepreneurship, it can at least be inculcated as a topic in General Studies, a course taken by all undergraduates.

In promoting investment, he said Achievers\' Consortium will be bringing in resource persons from IBTC and NNB to define the concept of investment and to stress the need for it among students.

He said the Nigerian business environment is still a virgin land and many opportunities are yet untapped. He stated, \'the fact that foreign companies are coming into Nigeria to invest and they are making so much money is indicates that the Nigerian business environment is till underexploited.

He said Nigerians, especially fresh crops of graduates from the universities should be encouraged to take advantage of the possibilities that are yet untapped in the Nigerian environment.

Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on General

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014