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Starting up and sustaining enterprises as a youth in Africa

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Starting up and sustaining enterprises as a youth in Africa

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Starting up and sustaining enterprises as a youth in Africa is an online program organised by Judith’s Munir. it held this year on October 26th-28th. There were three sessions in total.

A brief from the sessions

Session 1

Facilitator: Mr Folajimi Adesanya

mr Folajimi

First things first, why is it necessary for youths to start enterprises in Africa? Recent data tell us that the African continent has the youngest population in the world with 60% of our people being within the age bracket of 18 – 35. Therefore, it is quite clear that the group that would drive the development of this continent in the near and distant future are those present here in this WhatsApp group today. In addition, in a community like ours where there are an array of problems that need solving, it is therefore necessary for youth to launch innovative and sustainable interventions that would solve these problems and create a better future for our society.
What kind of enterprises are there? Well, broadly there are 3 kinds of venture models that we may choose to launch – non-profit, for-profit or hybrid. A non-profit venture is one that does exactly that, does not make a profit. For this kind of venture, you raise money every fiscal year and spend it all and have to repeat the whole thing in the next fiscal year. A for-profit venture on the other hand can be seen as a business, you raise money known as capital and make a profit at the end of the fiscal year which can be used to run the next fiscal year. A hybrid venture is a combination of both. It has a non-profit component and a for-profit component i.e. you raise money at the start of a fiscal year, you make a profit but its not enough to run the next fiscal year.

You then have to raise money again for the next year. Most non-profit ventures have to rely on grants, donations and crowd-funding programs to run while for-profit ventures run under investors and corporate entities.

STARTING AN ENTERPRISE

When it comes to starting a venture as a youth, there are 4 all-important concepts – Passion, Innovation, Sustainability & Branding. Let’s use a step-wise approach, shall we?…

To continue reading, click here to download the compilation of all the sessions!

Session 2

Facilitator: Miss Opone Esther

miss Esther

So first off, starting up anything, especially as a youth is not an easy thing, it requires a lot of planning, work, sacrifices, etc.
Be it a for-profit or no-profit organization, starting requires a lot of ground work which is what I’ll be addressing tonight. Some people here also stated that they want to learn how to add value, so I’ll be incorporating that too

I’ll tag this session Preparing Yourself for Starting Up

So, first off, you have identified a problem and decided where to come in, that is, have solution(s) you want to order to the problem, but before you jump in and start up, you have to put things in place so you can add value to others.

I’ll call that Building Capacity for Value.

I know the term “building capacity” is a clich√© but it cannot be overemphasized. It simply means *gaining and improving the knowledge, skills, tools, etc, necessary to be effective*.

I’ll address building capacity in 3 divisions:
1. Knowledge
2. Skillset
3. Networks

For more of this session, kindly click here to download a compilation of the sessions.

Session 3

Facilitator: Mr Ik Ebengho

STARTING UP AS A YOUTH very important topic.

When is the best time to start that business of yours? When is the ideal time to implement the ideas you have thought of and developed for so many years? Should I sit back and wait for all ingredients and materials to be ready?

Regardless of the circumstances and rigours around you, the best time is now.

Personally, I am more inclined towards the WHY you do things and not what you do or how many things you do. Honestly speaking, it plays a sentimental role in what I purchase.

WHY?

This is very important because, there are times when things may not be as you would want it to be and there are times when things will be fantastic – and a deep understanding of “why you began” will prevent you from shifting or drifting away.

By why, I am not speaking of making money. Do not get me wrong I am not the wealthiest or richest here. However, what I am referring to, are the core principles that make you a better creative or solutionist.

When you have been able to understand and answer why you want to start a venture or an NGO, creativity and innovation will surface in your thoughts.

Only then, will you be able to build a team and make a concrete foundation regardless of your environmental factors…

To continue reading, just click here!

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