MONDAY; 10/6/13 GETTING FUNDS FROM GOVERNMENT, AND FUNDING FROM NGOs. We welcome all our friends and readers to yet another pleasant week. We hope all of us had a good weekend. We suppose you didn’t feel our Friday absence on this platform. All is in our bid to satisfy some certain requests by a lot of our members and friends. In fact we have been advised we make our write ups once in a week to enable enough people read and digest the article for the week, answer questions and create more time to treat people’s requests before jumping over to another topic. We therefore have resolved to pick one topic of discussion for one week and on every Mondays too! We see reasons in the suggestion and have resolved to same. Let all the people who have sent mails and memos bear with us for some late response to suggestions, further explanation and requests. We must confess that it is not very easy to run our own business and attend to all issues like this at the same time. It is for these reasons and more that we usually give consultants to intending investors to take our place in areas we can not fully handle and moreover, we do not have the in-debt knowledge in every thing otherwise we be jack of all trade, master of none. We hope our friends and readers understand our challenge on this part and bear with us fully. TO THE TOPIC OF THE DAY: Majority of us are concerned why we are not getting a good and reasonable share of our national cake. It is a democratic dispensation and a lot of benefits citizens all over the world enjoy in democracy. We do not just run down our country. We all are expected to join hands and kill corruption, the earlier we do this the better for our country. I learnt Kenya too celebrated her fiftieth independent this weekend. When we look at our economy here and compare with some of our mates around, we see we are not doing too badly. I am not too sure about this but if it is true The United States of America got her independence some 253years ago, I see Nigeria getting there in about another fifty years from now. You know I once mentioned that I envy all of our kids and unborn generation. They are the ones to enjoy the fruits in Nigeria as I am sure Nigeria would have been fully perfected in 50years. No doubt, HOW DO I GET MY OWN RIGHT OF SHARES FROM THE GOVERNMENT? We all are envious of our politicians as we see them as the lucky portion of us who truly are enjoying the national cake in abundance, some us share some, the rest of us don’t even taste at all. This is the argument everywhere. Nigeria’s incomes belong to all of us. I mean all of us. Today’s president Goodluck Jonathan was once like me and you. Now, he has more than enough of this cake. How do you and I cut our own share off this cake? Youths in high majority have been insistence on the Government on the different ways to establish a good and a better life for themselves. It is the pressure that gave birth to about three programs where citizens especially the youths are expected to benefit from. They have introduced some forms of Graduate Internship Scheme where youths are expected to get useful training before we are gainfully employed to prepare us ahead of the challenges of life. The SURE-P, Subsidy Reinvestment and Empowerment program or Youth Enterprise with Innovation in Nigeria, YOUWIN and The Small and Medium Equity Investment Scheme in Nigeria, SMIEIS. All of these programs have been achieved from the pressure put upon the government by the citizens to ensure a lot more people benefit from the national cake. THE SURE-P: It is a program designed shortly after the crisis we had last year where the government decided to remove part of the subsidy on premium motor spirit (PMS) otherwise known as the petrol. Part of the arrangement is that the government draws up an internship program where graduates especially the fresh graduates in the age 18-40 years after their youth service or certificate of exception are advised to visit certain sites in the web to enroll for opportunities that come with this program. Visit the GIS (graduate Internship scheme) on wyesurep.gov.ng and carefully fill in all the information as is required. For the purpose of tax rebate and some other social responsibilities satisfaction, some reputable companies have registered with the federal government through the Federal Ministry of Finance to take up this assignment. Here the government is expected to enroll youths into these companies that meet up the criteria for employment of these youths at the allowance of about N18,000.00 for a minimum of 1 year after which period the Intern is retained and the youth given a permanent employment if he is lucky. I know we have provision for about 1000 youths from each of the 36 states of the Federation. During the Internship program, youths are trained on challenges in the workplace like virtues of industry, conduct, commitment, loyalty and diligence. The opportunity here is not the immediate monetary returns, it is the exposure to industrialization and for youths to practically learn from people who have been actively involved in the rigorous business activities in the country and prepare them for the challenges ahead. YOUWIN: The Youth Enterprise with Innovation in Nigeria is your next target and the next phase to achieving funds from the government. Where the SURE-P is expected to prepare you against all these companies who insist on preliminary experience and training, the YOUWIN program is to test your intelligence on ways by which we can have improved technology and styles as to which we can improve productivity of certain commodities where the basics of the program is to enable youths showcase their ideas and methods by which our GDP (Gross Domestic Products) can be improved; the more of our needed commodities that are produced in the country, the better for the country. We have about 4 ministries who have taken up this affair. The Ministry of Finance, The ministry of communication Technology, the Ministry of youth Development and the Ministry of Women affairs and social development. The system is such that an application form is prepared where we are expected to answer straight questions as it concerns our businesses and plans. These plans chart already prepared is available on the web where we are expected to do our postings of plans and suggestions to improve on our existing businesses if we had more funds to run or if we are starters and are giving these monies or grants, hoe we intend to use them and effect generation of fresh employment and affect the country GDP in all. The amount of grant ranges from N1,000,000.00 to about N10,000,000.00 depending on the nature of business, your experience and the size of the company in question. Your details from the sites are electronically passed on to the necessary perusing and appraisal authorities i.e. The Lagos Business school amongst others where your business plans and proposal is appraised and accessed. You are notified thereafter through your e-mail address whether you are successful or not, if you are successful, you are invited to defend your proposal more and meet all other criteria for fund disbursement. Google youwin Nigeria. We understand that the Government plans to run the program for three phases in 3 years where she hopes to at the end of the 3years create about 80,000 to 110,000 jobs. Two phases have been treated and hopefully we think we still have one phase left. Competition phase 1: Starts March 2012 and ends Feb, 2013. Competition phase 2: Starts March 2013 and ends May 2013. Competition phase 3: Please continue to access this Youwin site on a weekly basis as it is yet to be determined. A constant visit to the website keeps you current on this subject. N.B: (1) The YOUWIN funds is not a loan but a grant. It is an equity contribution to our businesses where the Government supplies us with some more funds to enable us establish, grow and support our businesses. A due diligence exercise will be conducted to ensure the government the business purpose is sincere for starters and new investors or new business entrepreneur is real, the existing entrepreneur will use the funds for this purpose of which this fund is given and satisfy all the aims of the project and the plans. (2) Applicants will be expected to open and operate a current account as all transactions will take place on these accounts, it is not a criteria for putting in your application, neither is it a barrier for you to access the funds or share your business ideas but it is one of the conditions precedent to draw-down. Whether you have these accounts or a registered company is immaterial at this stage. Once your application is approved and selected, you will be expected to run a current account and more importantly register your company with the corporate affairs commission before funds is disbursed. (3) If you are a winner of this award or grant, you will be expected to sign a MoU(Memorandum of understanding) with the bodies involves before you are able to access these funds. This is one of the easiest ways by which a person can get funds from the government. We know there is corruption everywhere and things can be manipulated. Bodies like the Lagos Business School where we have the likes of professor Pat Utomi as a leader is a sure bet and confidence that issues will be treated rightly at least to a level of 90%. That I am sure of as fellows of the Lagos Business School talk business education and training alone. Your assignment is to come up with an intelligent and highly innovative business idea which is fresh, practicable and genuine with a purpose of yielding interest and more importantly provide more jobs for Nigerians. The art of shoe making, fashion designs where you improve and add value to our Adire for the purpose of export, packaging and export of certain food commodities from our petrol, oil palm and cassava and besides other innovative ideas. File in these ideas on the web on that site in the space you have APPLY NOW, do not say it is impossible. If Olonade Abraham Olufemi did not get it, you can get it. You may be lucky. We like to take a break here. Next Monday, we shall discuss the third issue on this subject, which is the funding for the SMIEIS. The Small and medium equity investment scheme where our commercial banks have been mandated to set aside with the central bank 10% of their gross profit to support and grow existing small and medium scale industry in our country today. We will discuss the step by step method to accessing these funds. Before then, we wish you a pleasant week ahead and we hope you take a good more time to peruse this. Please, do not be selfish, share this page with more friends and discuss these issues with more friends. We welcome more suggestions and ideas. If we have not been able to respond to your questions and requests, it is not negligence. We are so sorry and we hope we have more time to do this now. Remember, I am a businessman too and I have to spare a little more time for my business. I thank you for understanding. Some who find our write up lengthy and can not cope with the cost of MB. We suggest once you are on this page, you have opened the write up, log off the web and take your time to read and study the write up, once you are done with your reading, log in again and continue to browse. That period you logged off, no one is charging you anything. I hope we understand this. You can continue to like and invite friends to like BUSINESS ENTERPRISE WITH OLONADE ABRAHAM OLUFEMI. Olonade Abraham Olufemi. Happy new week again.
Posted on: Mon, 10 Jun 2013 14:02:12 +0000
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