In a bid to reduce the rate of unemployment by creating 1.2 million jobs by December 2016, Young Business Leaders of Nigeria (YBLN) is thus organizing a residential entrepreneurship training and development programme that would train twenty budding entrepreneurs with viable business ideas, selected from over three thousand business plans received from budding entrepreneurs across the country.
YBLN would thus be hosting these promising and aspiring budding entrepreneurs in Lagos from 3rd of October to 13th November, 2015 in Lagos. The Programme Director of YBLN, Oye Jolaoso explained that budding entrepreneurs were chosen based on their business plan, innovative ideas and the longevity of the business plan. She also noted that northern budding entrepreneurs were given preference as a result of the highest rate of unemployment in the region. She further explained that there were more male than female entrepreneurs this year because most of the business plans received from female entrepreneurs were not concrete.
“The company’s plan is to have equal number of male and female budding entrepreneurs but unfortunately we didn’t find a lot of concrete business plan from female applicants. We thus had more male budding entrepreneurs with business plan than female budding entrepreneurs and this is also something we would also like to change.” she said.
According to Jolaoso, Participants would get the opportunities to start their own businesses with an intention for them to employ a minimum of four people before December 2016. She also noted that the program would also include community service which is the key component of the program, “Day trips would be made to community centres and participants would provide their service and time free of charge to selected communities. Trips would also be made to corporate offices, business and operational sites of some of Nigeria’s biggest or most promising enterprises while participants would also test their knowledge with hands on practical tests at factories, farms, et cetera.”
She also noted that specific leadership coaching, mentoring and reorientation would be emphasized throughout the duration of the program, “Seed funds would be given and continuous capacity building, free business advisory, mentorship and networking opportunities would be offered after the program. Participants would also have access to special credit facilities at low interest rates.”
Young Business Leaders of Nigeria is a CSR arm of Red wire Limited established to evolve creative methods of solving the unemployment crisis in Nigeria with a focused attempt at getting a large mass of young people off the sidelines with different programs mapped out to solve the crisis.