END UNEMPLOYMENT THROUGH ENTREPRENEURIAL DEVELOPMENT/SKILL CREATION
(A Practical Guide on How to Start Your Business
And Put Food on Your Table)
INTRODUCTION
In spite of the fair number of textbooks and materials which already exist on this subject, Entrepreneurship Development is one area or a panacea for local content development under our present economic recession that we are passing through in this country.
The purpose of this research is to explain the basic fundamental of entrepreneurship development and practice on which basis, the readers would obtain a thorough understanding and interface between learning and practice.
This book is written primarily for young undergraduate, Corp members, individuals, students and instructor of higher education. To let them know that when you have skills and can start small, no matter how small, you can own your investment and become an employer of labour.
As you pick a copy of this investment companion, the moment you are able to read and write, the issue of unemployment would have been a thing of the past. The issue that you find it difficult to put food on your table is over also. I have been waiting for a white-collar job to no avail. However, you have direction now. I don’t have money to start my own business as a young school leaver, I want to work in an oil company for a higher remuneration. Answers have been provided for you to look inwards and make use of the available opportunities.
Why not start small and see how you can grow with time is the only wise counsel that any reasonable mentor can advise.
To the practitioners, the text is a valuable reference since it contains topical issues on matters of indelible importance to the practice of small and medium scale enterprises (SMES) with deep Nigerian local content flavor.
As the Chief Executive Officer/Managing Director (MD) of Palms Increase Resources Business Consult, I have drawn extensively from my research and practical experience gained in my over two decades of research and counseling small scale business owners on the need for them to start and grow an effective model of growing business. However, many of the pitfalls and areas that create confusion to young (SMES) graduates have been addressed.
Finally, I am immensely grateful to Dr. CHRIS Akpolume, Head of Department, Niger Delta University (NDD) for his professional touch on editing and proof-reading of the final manuscript of this publication.
To all others who, I have failed to mention and who have made an input to the production of this text I am also grateful.
The author accepts all responsibilities arising from errors in the design, structure, content and publication of this text.
Mr. Yowika Theophilus
Legboksi
TABLE OF CONTENT
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TABLE OF CONTENTS |
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DEDICATION |
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FOREWORD |
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PREFACE |
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INTRODUCTION |
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CHAPTER ONE |
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ARE YOU READY TO TAKE AN ACTION TODAY? |
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Ø Unlock your potential Ø Take charge of your life Ø Create your own future Ø Clarity of your values Ø Determine your true goals Ø Define your major definite purpose Ø Analyze your beliefs Ø Start at the beginning Ø Measure your progress Ø Remove all obstacles Ø Become an expert in your field Ø Associate with the right people Ø Make an action plan Ø Manage your time accurately Ø Review your goals daily Ø Visualize your goals continually Ø Activate your sub-conscious mind Ø Remain flexible at all times Ø Unlock your inborn creativity Ø Do something everyday Ø Persist until you succeed |
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CHAPTER TWO AN OPEN LETTER TO YOUTH CORPS MEMBERS ON THE NEED TO BE OBJECTIVE IN LIFE CHAPTER THREE 100 BUSINESSES YOU CAN START WITH BETWEEN N5,000 AND N250,000 Section (a) Section (b) CHAPTER FOUR INTRODUCTION TO ENTREPRENEURIAL DEVELOPMENT Ø Introduction Ø Definition of entrepreneurship (SMEs) Ø Further Introduction to entrepreneurship Ø The qualities of an entrepreneur Ø Sources of fund Ø Sustainable Development Goals Ø Background Ø The role of an entrepreneur Ø Sustainable Development Goals or Global Goals Ø Objective of the Sustainable Development Goals cum Centre for Entrepreneur Leadership and Development Training Programme Ø Conclusion CHAPTER FIVE WHY DO MOST SMALL AND MEDIUM SCALE ENTERPRISES FAIL? Ø Wrong government policies Ø Inability of entrepreneurs to take an insurance policy Ø Poor infrastructural problems Ø Poor financial management Ø Lack of poor knowledge of financial records Ø Natural disaster Ø Inability of business owner to practice 10% saving Ø Lack of technical know-how Ø Poor budgeting management Ø Lack of poor management skill CHAPTER SIX WHY MOST SMALL AND MEDIUM SCALE BUSINESS PERFORMED POORLY IN NIGERIA Ø The government of the Nigeria state should provide an enable environment Ø Poor management of Microfinance Bank Ø Poor knowledge of presenting the necessary document for obtaining loan eg. business proposal Ø Lack of modern-day best practices in business operation CHAPTER SEVEN MOTIVATE YOURSELF TO DO THE NEEDFUL Ø Becoming your own coach, mentor and adviser Ø Five steps to becoming an effective self-manager Ø Making sure you can count on yourself to do what you said you would do Ø To assure that you reach your goals, commit to take only take why those steps you know you can count on yourself to carry out. Ø Make bite-sized, realistic goals and commitments. Ø Set completion dated for your commitments and track your progress. Ø Give yourself some slack, but don’t let yourself slack off. Ø Build on your core function. Ø What motivates you? Ø Knowing what you need to hear and saying it in such a way that you’ll listen Ø What to do when you don’t feel like doing what needs to be done Ø Getting in peak condition and keeping yourself there Ø What makes the magic? Ø Are you ready for success Ø A five-step regimen for peak performance Ø Learn to notice quickly when your body is beginning to feel tense Ø Creating a supportive work environment Ø Twelve characteristics of touch-minded optimists Ø A five-minute up for peak performance Ø Taking care of the coach CHAPTER EIGHT 10 COMMON SALES MISTAKES AND HOW TO AVOID THEM
Ø Introduction Ø Not keeping sales tools organized Ø Underestimating the importance of prospecting Ø Getting distracted Ø Not listening to the prospect Ø Not taking note Ø Failing to follow up Ø Not keeping in contact with past clients Ø Not planning the day efficiently Ø Not keeping up to date CHAPTER NINE INVESTMENT Ø Introduction Ø Definition of investment Ø Reason for investment Ø Types of investment Ø Stocks Ø Real estate Ø Precious objects Ø Business Ø Lending Investment Ø Bonds Ø Certificate of deposit eg. COD,ACD Ø Savings accounts Ø Tips Ø Mutual fund (a) The Financial Market Ø Types of market Ø Physical/Asset market Ø Sport market and future market Ø Money market Ø Mortgage market Ø World, National, Regional & Local market Ø Primary market Ø The Initial Public Offer Market (IPO) Ø Secondary market Ø Private market CHAPTER TEN BUSINESS PLANNING Ø Introduction Ø Business planning Ø Why use a business plan? Ø Reasons for developing a business plan include: Ø The relevance of management to effective business planning Ø What makes a good business plan Ø Writing the business plan Ø Structure of a typical business plan Ø How to get started writing a business plan CHAPTER ELEVEN 11) THE FUNDAMENTAL OF TAXATION Ø Introduction Ø Meaning of taxation Ø Importance of taxation Ø Elements of tax Ø Types of taxes Ø Principles of taxation CHAPTER TWELVE 12) WHAT THE RIVERS STATE INTERNAL REVENUE SERVICES (RIRS) NEEDS TO DO TO INCRESAE HER INTERNAL GENERATED REVENUE (IGR) Ø Imposition of personal income tax Ø Administration of personal income tax Ø Producers for returns Ø Assessment and objection Ø Best of judgment (BOJ) Ø Objection Ø Appeal Ø Body of appeal commissioner Ø Tax evasion Ø Tax avoidance Ø Relevant tax authority Ø Remission of penalty Ø Remission of tax Ø PAYE CHAPTER THIRTEEN 13) MANAGEMENT STATEGIES Ø Find a mentor Ø Beat your deadlines Ø Tell the truth; it’s critical Ø Turn your hobby into a successful business Ø Here are some tips for turning your hobby into a small business Ø Turn your passion into profit Ø Say goodbye to corporate life Ø Before you take your job, do critical research CHAPTER FOURTEEN 14) THE MISSING LINK ON ENTREPRENEURSHIP DEVELOPMENT FOR EFFECTIVE GROWTH ON INVESTMENT Ø Introduction |
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DISCOVER 100 BUSINESSES YOU CAN START WITH AS LOW N5,000 AND ABOVE
