You Win Connect is a skill development programme powered by the federal government of Nigeria. It is also all about empowering of young ones to achieve great things in the future and to become a successful Nigerian entrepreneur. In the programme at Alex Ekwueme Federal University Ndufu-Alike Ikwo on Friday October 11th 2019, they talked about some courses in schools like ENT and LEP which they said that they are very important in the school even though one of them (LEP) has 0 credit unit.
The Skill development programmes include Practical training of entrepreneurship, helping students develop their innovative ideas and skills, Mentorship support e.t.c. One of the ongoing training programme is honey production.
Entrepreneurship involves many processes which one of them is funding. There are many types of funders and each have their own strategic reason for providing finance to small businesses, Government, NGO and the private sector are typical sources of funding e.t.c.
TYPES OF FUNDING
Crowd funding: In this aspect, people can come together to contribute and help each other to progress. A contribution might be held to support a member in a particular month and another contribution will be held In the next month to support another member.
Family and friends: One can meet his/her family or friend and ask for funds. Explaining the reason or the business you want to open while asking for funds is very important and it shouldn’t be emotional.
Business accelerators: A business accelerator supports growth-oriented start ups through education, mentorship and financing.
Some accelerators/incubators in Nigeria are CcHub, Wennovation Hub, Spark, Leadpath, 440.ng, Startpreneurs, Ventures Platform, Itanna e.t.c
Banks: This is another important type of funding which is also very helpful in thee society. To request for funds, some banks in Nigeria may request a list of document like:
-A short company profile or a brief description of the business
-Financial statement for the previous financial year.
-Management accounts for the period between the end of the previous financial year and the present.
-Cash flow forecast e.t.c
In this programme in Alex Ekwueme Federal University Ndufu Alike Ikwo (AE-FUNAI), students were advised to learn and develop skills as these can be of help to them as well. MC HOD and Courage also performed in the program in AE-FUNAI and it was very interesting and lively. Dr. Makuo the Director of AE-FUNAI academic planning thanked the people and students for attending. The closing prayer was done and we dismissed. If you missed the programme, I hope this little article helps.