fbpx
BANKING & FINANCECOVEREntrepreneurship

Business Leaders Challenge Youths To Turn Passion To Profits At Stanbic IBTC’s YLS Event

Business Leaders Guide Youth on Turning Passion into Profit at Stanbic IBTC’s YLS

Successful entrepreneurs across different sectors of the economy have encouraged Nigerian youths to take advantage of their passion, skills and talents to create profitable enterprises.

They affirmed that there were numerous investment opportunities that Nigerian youths could explore while speaking at the 2021 Youth Leadership Series (YLS) organised by Stanbic IBTC Bank Plc.

The speakers while addressing the theme ‘Winning’ explained how Nigerian youths could persevere, learn and evolve when faced with challenges as entrepreneurs.

Speaking at a panel session entitled ‘Winning With Social Media’ by a Nigerian Comedian and Actor, Debo Adedayo (Mr Macaroni and Founder of Diary of  Naija Girl (DANG), Ife Agoro, explained how the youths can harness the power of storytelling on social media to create a niche for themselves.

Adedayo advised creatives to open their eyes, ears and go to places in order to be inspired to generate creative ideas.

“An artist wants his art to be seen but there must be people to see, appreciate and enjoy that talent. So, the artist has to be consistent and that is why passion is important,” he said.

Agoro highlighted in the importance of planning, saving and consistency when launching a new business.

Earlier in his opening remarks, the Chief Executive of Stanbic IBTC Holdings Plc, Dr Demola Sogunle, said that the YLS was deliberately designed in 2018 as an avenue to engage and empower Nigerians with the ability to become future business leaders.

He said, “Four years down the line, we are still committed to the vision in subsequent editions and surpassing the previous ones. I am confident that this year’s programme will be super-beneficial to everyone present at this edition.

He said the event themed ‘Winning’ was designed to empower attendees with a winning mentality and prepare them to become future business leaders.

READ ALSO: Oil Price, Remittances Boost Forex Reserves By Over $500m

Quoting industry statistics, he said youths made up over 50 per cent of Nigeria’s population.

Sogunle called on stakeholders to give priority to developing the youths by harnessing their potential, which will in turn accelerate the country’s economic growth.

According to him, Nigerian youths require the necessary support, guidance and empowerment to get to the peak of their careers.

At the breakout session themed, ‘The Mystery of Trade’, the Co-founder of Bamboo, Yanmo Omorogbe, and the Equity Sales Manager, Sub-Saharan Africa Stanbic IBTC Stockbrokers, Akinbamidele Akintola, discussed how young Nigerians can invest early in life.

Speaking on the role of Stanbic IBTC encouraging financial freedom among the youths, Akintola said the bank, through its asset management arm, provided a suite of packages that supported investments in mutual funds that are available in naira and dollars.

Echoing Akintola’s words, Omorogbe highlighted the benefit of saving as a youth, citing the effects of compound interest.

She said that what mattered was consistency and not the amount that was set aside for savings and investment.

READ ALSO: 30% Microfinance Banks Ready For Capitalisation

She said, “Treat saving like any other skill or any other thing you have to learn. The more you do it, the more you get better. Set a realistic savings target for yourself. Do not set yourself up for failure. Consistency is key.”

At the Nurturing and Birthing Session, Co-Founder of Bluechip Technologies, Olumide Soyombo and Co-Founder, Smoothie Express Nigeria, Tracy Batta, spoke on the strategies they deployed when they started their businesses.

Batta spoke on how she turned her idea into a business and cautioned the youths against entering an agreement that would require half of the business’ revenue.

Soyombo listed factors to be considered when starting a business.

He said, “The first thing investors look at when considering investing in a business is the person, what can the person do and is the person willing to make a sacrifice?

“The second thing is the product or service; can it fit into the market? What problem can it solve? Who are your audience and will they accept the product or service?

He said that young entrepreneurs who do not have investors should start with their resources and later get help from angel investors.

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.