Every day we see new businesses spring up and over a period of time, they fold up. People go into business for different reasons, some because they have a passion for it, for others for profit benefits, because every other person is doing it, the list goes on and on. One of the few reasons why businesses fold up is because people have little or no knowledge on how to conduct and go about a business.
It is not easy to start and sustain a business in Nigeria; therefore in building sustainable business, entrepreneurs need to know how the system works so they can survive in a challenging and difficult terrain.
First and foremost, before starting up a business, one needs to be educated on the dos and don’ts of the particular trade; this can only be achieved when she gets a degree in business education. Knowledge of business education will make a successful business.
In our interview of Mrs. Monalisa Abimbola Azeh, CEO of Mona Matthews shoe line one of the things she mentioned as being crucial to her success in business was a business education. According to her
“my first day in class I was struck dumb. I knew nothing about running a business even though I had been a lawyer for many years and had run my own practice”.
She has being in business for over 12 years. She had a vision for her company and knew that this would only be made possible if she got trained.
The Global Women Entrepreneurs Program, WomenX, is an innovative and global program which is developed to support Women Entrepreneurs.
The Enterprise Development Centre, Pan-Atlantic University in collaboration with The World Bank will:
- Provide practical Business Education through a blended learning approach (online and in-class training)
- Help strengthen Women Entrepreneurs network
- Offer mentoring
- Create linkages between financial institutions and Women Entrepreneurs.
Selection criteria are as follows:
- Your company should owned and managed by a woman. That means that if it is a partnership, you should hold at least 51 percent of the shares.
- You have to have a functional business. This means that you must have been in operation for at least 6 months.
- Your business should have at least 5 employees
- The business must have a high growth potential. If you believe that your business has a high growth potential, then you fit this criteria.
- High local content will be an advantage
If you fit any of the requirements listed above, then send in an application for the first round of the WomenX Scholarship. You can download the application form here.
This is a 12 months scholarship program which will hold in Lagos and Abuja. If you are selected, you will be required to pay N75,000 for the entire program. N75,000 for a business education on how to run your business effectively is a pittance and this is not an opportunity to be missed.
For more information, www.edc.edu.ng or 2, Ahmed Onibudo Street, Victoria Island, Lagos (for more information). You can also call Adeola on 08174583169 for general enquiries.
Getting educated in business education goes a long way in saving our businesses; it helps consolidate the structure of the organisation and ensures intelligent strategic actions at every level.