About the Campaign
Vi-M Professional Solutions recently held a Business Advisory and Tax Clinic at Vincentian Retreat Centre Yakoko, as part of its commitment to empower Micro Small and Medium Enterprises (MSMEs). The clinic session which took place on Saturday 11 Aug 2018 at the church premises, was done in collaboration with the Catholic Archdiocese of Lagos. Vi-M has now partnered with the MSME Crowd Funding Foundation to seek funding assistance for the participants who are in need of business funding.
The objective of the clinic was to support entrepreneurs and business owners in providing skills training to enhance their business management skills.
The registered participants were 83 in number. In attendance were small business owners, traders from various business sectors, and others who intend starting a business.
The points covered at the clinic session included the following:
- Starting a new business, writing a viable business plan;
- Workable business ideas, particularly where start-up funding is lacking or very small;
- Legal framework for starting and running s business in Nigeria;
- Use of information technology to power the business and internet of things, including website building and optimisation;
- Current trends in marketing, selling, branding and use of social media;
- Best practices in human resource management;
- Optimizing the finance functions and internal controls;
- Cashflow management and tips to sustain cash inflow;
- Navigating personal and business taxes;
- Agri business, which was delivered by the resident priest;
- A one-on-one session was held with each facilitator at the end of the business session.
One serious challenge / barrier to the sustenance of the businesses remains lack of adequate funding. Many of the suggested approaches were, to several of the participants, wishful thinking, as they do not have enough funds to implement several of the recommended practices. In fact, to show how bad it is, one of the participants indicated that with the little profit she makes, it would be impossible to meet up with expenses such as statutory fees of registering her business / products with the relevant Regulatory agencies. Consider then how much more difficult it would be for these businesses to be able to afford things like a decent work/ office space, hire staff, get accounting and IT tools to support their businesses, engage in any marketing activity that involves any significant expense.
We intend to give assistance to participants who indicated immediate need for funding the following enterprises:
|1,500,000||Provision store start-up|
|500,000||Catering & food|
Unless the elite and buoyant people in our society make it a duty point to support enterprises like this, who are full of entrepreneurial energy but lack adequate financing to pursue their ideals, our economy would remain underdeveloped.
A Watsapp forum has also been created to serve as a continuous financial training platform, communal marketing, network sharing and problem solving platform.
Most of the participants continue to struggle to sustain their business activities, while the aspiring ones continue to look into easier and affordable means to start their own businesses.
We hereby solicit for funds via this platform to assist these men and women build up their business, put a solid/ viable structure around it, grow it and hopefully make a meaningful livelihood for themselves and their dependants.
It is our hope that well meaning catholics in the Lagos archdiocese, prospective donors on this site, the local and international communities/ organisations would come together and support this initiative of providing ‘burden’ free charity funding for these aspiring entrepreneurs.
* Please watch out for ‘updates’ to this campaign (to be published below the page) as we would be giving account of how your donations are utilised.
Pictures from the event are below for your viewing pleasure.