Female entrepreneurs have been advised to invest in themselves and build structures around their businesses for sustainability’s sake.
That was the fallout of the United Bank for Africa Business Series, the Women’s Day edition, held at the bank’s Head office in Lagos recently.
The co-founder and Chief Executive Officer of Good Hair Ltd, Chioma Ikokwu; who was one of the panellists at the event, emphasised the need for meaningful partnerships and collaborations in business.
She stated, “It is important to start by solving a problem; you have to separate your lifestyle from your business and ensure that you are intentional about what you put out there.
“Also, get straight to the point about what you are offering your customers, no need beating about the bush.”
The founder of Hello Perfect, Onyeka Michael-Ugwu, urged business owners and would-be entrepreneurs to surround themselves with the right people as those are the people who would help tend to the growth of the business.
“I always tell people to build a team that can give their best to your business. When you treat your team right, they will put their all into growing your business,” she maintained.
Other members of the panel included the founder of African Naturalistas, Atilola Moronfolu and the founder/Chief Executive Officer of NOUA Skin, Oshuwa Tunde-Imoyo.
Atilola highlighted the advantage of a proper business structure, saying, “Get your structure right. You need to have a standard operating procedure that works whether you are physically present or not.
“Also, it is very important to separate your personal finances from your business finances, that way; your business learns to thrive on its own.”
Oshuwa added, “I subscribe to learning new things by investing in educating yourself; this will translate into better business decisions.”
UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, noted that SMEs were the lifeblood of the economy, hence the need to pay attention to them.
“We believe that SMEs, especially those run by females, are the engine of growth in any economy, and so, at UBA, we invest in educating our customers and Small business owners on tips that will help them run successful businesses that can impact the world,” she asserted.
Punch