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Lagos Charges Young Entrepreneurs On Creative Ideas

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Lagos State Governor, Babajide Sanwo-Olu, has charged young entrepreneurs in the State to develop their creative ideas and grow the state’s economy.
Sanwo-Olu gave the charge recently, during the maiden edition of Lagos Island Business Fair (LIBIZFair) 2022, with the theme, “Edu-Social for Entrepreneurs in Lagos Island, and Lagos State Towards Social Economic Empowerment”.
The governor, who was represented by the Permanent Secretary, Ministry of Commerce, Industry and Cooperatives, Mrs Adetutu Ososanya, said entrepreneurs should fashion their businesses on  how they should be done in the 21st century.
“Therefore, I charge all stakeholders to remain committed and be encouraged to drive the economy of our dear state, as you all create wealth and change the narratives of how businesses should be done in the 21st century, using Information Technology to drive business in line with world best practices”, he said.
Sanwo-Olu disclosed that the State Government was re-shaping the orientation of doing business by encouraging young people to become social entrepreneurs.
According to him, the LIBIZFair alligns with the policy of his administration of creating a conducive environment for businesses to thrive.
He said the government was widening access to market and encouraging networking and collaboration among entrepreneurs, in line with the Fourh Pillar of the T.H.E.M.E.S Development Agenda, “Making Lagos A 21st Century Economy”.
The Governor said the fair is lined up with the Federal Government’s Policy on diversification of the economy from the focus on oil to non-oil export.
He encouraged young people to become social business entrepreneurs and contribute to the world, rather than just making money.
In her opening remark, the Co-Founder, Lagos Island Connect (LIC), Ms Yemisi Ransome-Kuti, said the fair was borne out of the need to help businesses and youths, particularly in Lagos Island area and Lagos State at large.
Ransome-Kuti said the economy, being the start and end of everything, required main elements of adding more workers to the workforce, pushing productivity higher, hence, producing more goods and services to achieve growth.
She said there was need to create some world class businesses in Lagos Island, due to the importance of the Local Government Area to the economy of the state.

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SMEs

Get Started With Stock Trading: The Complete Beginner’s Guide

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Introduction

Stock investment is considered one of the great ways of earning and creating wealth in the long term. It is indeed a great way of earning extra money other than your occupation. People have always been enthusiastic about stock trading. Previously they were completely dependent on stock experts. But now things have changed with the mobile revolution.

You can start trading safely using a trusted online platform and make your stock trading easy. This article is mainly for the ones like You who are looking to kick-start stock trading. Take it as a complete beginner’s guide.

What Is Stock Market

A stock market is where you buy and sell stocks of different business entities. When you own stocks of a public company, you become a partial owner, but yes, there are restrictions, as you can not dictate how to run the company.

In return, the company shares the profits and losses with you. But now you may ask where the stocks come from.

Actually, public companies that need finance issue stocks in the market. Buyers own the stocks, and they enjoy the investment with profits. On the other hand, the company gets the funds.

Kick Start your Stock Trading: A Beginners Guide 

You might have seen that the internet is flooded with questions like how to invest in stock trading. Ways to trade stocks and others. But if you do not get a good answer to the question, don’t worry. You are getting here. Let’s read these guidelines to start your stock trading with ease.

1. Buying The Right Investment

Buying the right investment has to be your first priority. But do just jump into buying and selling the shares blindly. The first thing that you have to do is invest in research and analysis of the different companies. But what to research? You can research elements like:

  • The company management team.
  • Competitive Advantage.
  • Company financials like Balance sheet, P/L account, and income statement.

2. Avoiding The Individual Stocks

It happens with the new traders that they have high expectations with it. They start expecting high returns right from the beginning, and they falter. Sometimes they are utterly confused between luck and skills. If they lose right in the beginning, they start cursing their luck. Try not to bank on an individual stock. You have less opportunity of encashing from the company.

Instead of giving your all to individual stocks, you can invest with a mutual fund or exchange-traded funds (ETFs). With these funds, you have hundreds of shares that you purchase.

3. Decide How Much You Will Invest In The Stocks

A common question that floods the investment is about the sum of investment in the individual stocks. Stock prices (unlike Cryptocurrency, which is highly volatile) have their drops and rise.

For instance, the price of the stocks plunged during COVID-19 to a massive 40%, but the values again reached an all-time high within a few months. Therefore, keep aside the necessary spending like running the household, the next year’s vacation fund, your down payments, and emergency funds.

4. Diversify Your Portfolio

There is an old saying,  better not lay all your eggs in one basket. The proverb is true with stock investment. Do not invest; you’re all with one stable company.

It’s always better to invest in the stocks of diverse companies instead of merely banking on one. Take it as a strategy. The reason behind the movie is that it reduces the risk of one stock getting plunged due to circumstances. Hence, create a broad portfolio by buying Mutual Funds or an ETF.

Stock Investment Is Long Term Investment

Please keep in mind that investment is a long-term activity. If you think of investing for a shorter time in stocks and getting away with the profits, let us advise you that this may not be the idle place.

Though subject to market risks, investments are profitable in the long run. Therefore, keep a fixed amount from your savings to spend or invest in stock trading. They can be helpful to you in the long run.

The ideas that we discuss can help new investors start trading stocks. Therefore, please follow this advice while you kick-start your investment. Start slow and low (investment).

 

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SMEs

SMEDAN Trains 80 Agro-Businesses In WISE-P

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Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) said it has trained 80 agro-processors under its Women In Self Employment Programme (WISE-P) in Enugu State.
It said the women, chosen from the rural communities, were drawn from eight agricultural and agro-processing co-operative societies in the state.
In an address at the closing ceremony of the four-day training, the Director-General of SMEDAN, Mr Olawale Fasanya, said that Micro, Small and Medium Enterprises (MSMEs) “remain a very important sub-sector in the Nigerian economy”.
According to Fasanya, they collectively account for a majority of the enterprises in Nigeria and the highest number of jobs created in the economy.
“The most recent National MSMEs Survey of 2020 revealed that there are 39.6 million MSMEs, employing 62.5 million persons (80.2 per cent of the labour force) and contributing 46.31 per cent and 6.21 per cent to nominal GDP and exports, respectively.
“The power of self-employment is not only inherent in providing a job for oneself but also in providing job opportunities and employing others to work and earn a living.
“It is said that when you train a woman you train a nation, and when you further empower a woman you have liberated the nation. Women no doubt are the bedrock of many families and society.
“Priority attention to this gender group, therefore, cannot be relegated in any of the field of endeavours they have chosen to be identified with,” Fasanya said.
He further said available evidence showed that a lot of women are into farming and many more are willing to take up farming or agri-business as a means of livelihood and self-employment.
“However, women were limited in progress because they do not have the requisite skills and finance required to carry on successfully and even access markets”, She said.
The SMEDAN boss said the programme was targeting 13 states, making a total of 1040 participants.
He stated that the first phase of the programme was held on Dec. 12, 2022 in Osun, Ebonyi, Katsina, Bauchi, Ekiti and Kwara.
“The second phase commenced simultaneously in Jigawa, Delta, Taraba, Kogi, Bayelsa and Enugu,” he said.
Fasanya further said WISE-P is designed basically to promote self-reliance among women and to empower them in order to achieve improved productivity and sustainability in agricultural businesses.
“These agricultural businesses include crop farming and agro-processing along the value chains and to boost production of raw materials for industrial use and development,” he said.
He said that the agency would provide multi-purpose industrial drier to the eight cooperative societies that had participated in the training.
A participant, Mrs Nnenna Ejim, said that the training had exposed her more on the need for proper and careful book-keeping aimed at the growth of businesses.
Ejim, who is the Coordinator of Chidiebube Nenwe Women Multi-Purpose Cooperative Society, said, “I sincerely thank the Federal Government for providing this opportunity”.
Also, Mrs Cordelia Okwu from Golden Step Multi-purpose Cooperative said that the training exposed her to the benefits derivable from cassava processing.
“Priority attention to this gender group, therefore, cannot be relegated in any of the field of endeavours they have chosen to be identified with,” Fasanya said.
He further said that available evidence showed that a lot of women are into farming and many more are willing to take up farming or agri-business as a means of livelihood and self-employment.
“However, women were limited in progress because they do not have the requisite skills and finance required to carry on successfully and even access markets”,She said.
The SMEDAN boss said that the programme was targeting 13 states, making a total of 1040 participants.
He said that the first phase of the programme was held on Dec. 12, 2022 in Osun, Ebonyi, Katsina, Bauchi, Ekiti and Kwara.

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SMEs

Fidelity Bank Emerges 2022 Best SME Bank

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Fidelity Bank Plc, at the Annual Global Banking & Finance Awards which held in London, UK, has been announced as the ‘2022 Best SME Bank’ in Nigeria by the Global Banking and Finance Review.
Global Banking and Finance Review, a leading online, digital, and print magazine for the banking and financial sector, recognises companies of all sizes that are prominent areas of expertise and excellence within the global financial community.
A statement by the conpany stated, “Global Banking and Finance Review is privileged to honour those financial institutions that have achieved outstanding results and who stand out in their particular area of expertise in the banking and finance industry.
Global Banking and Finance Review would like to congratulate the award winners and look forward to their continued success.
“The awards were created to recognize companies of all sizes that are prominent in particular areas of expertise and excellence within the financial community.
“They reflect the involvement of leading financial organisations and recognise the accomplishment, achievement, innovation, strategy, and progressive and motivating changes taking place within the financial sector.”
Commenting on the award, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, said, “We are grateful for this recognition and dedicate the award to our customers who rely on us to provide the right support for scaling their business.
“Receiving this award at the beginning of the year, provides us with increased motivation to do more in helping our clients achieve their strategic business goals.”

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