ADVERTISEMENT
With Corporate Governance, your business growth and profitability are secured
Securing loans or getting capital to start a business is difficult, but “capital has no heart. It goes where the return is greatest”.
Members of the Discussion Panel and Board of LEAP Africa
Addressing the issue of instituting Corporate Governance in very business, Prof. Fabian Ajogwu, a Partner at Kenna Partners noted that corporate governance is key for any startup while stating that it is necessary for very small to constitute a board of two or more directors.
The LEAP Africa CEO Forum is an annual event where topical business issues were addressed by a panel of accomplished business personality. The Forum, as usually, was dominated by discussion on SMEs development and how business owners can sustain their organisation.
“… no matter how small your business is, ensure you have a board of people that don’t need you."
ADVERTISEMENT
“It drives respect and you'll receive candid advice. They will add value to your business, as they are only interested in you growing.”
Ajogwu further told the league of small business operators and young entrepreneurs who were at the event that securing loans or getting capital to start a business is difficult, but “capital has no heart. It goes where the return is greatest”.
Omolara Akinfolrin of Sterling Bank Plc also advised that all business must ensure it develop a bank plan for his idea. As people will love to see how the idea creates value, not only be saying it.
“As an entrepreneur, you need to have a business plan, it is the heart of your business.
“Business plan helps us in our short-term financing capital need. Keep records,“ Omolara noted.
ADVERTISEMENT
She further encouraged small business owners and entrepreneurs at the event to keep records. “When you have good financial records, it makes it easier to secure investors and get financial aid.”
Bisi Adeyemi of DCSL Corporate Services Ltd also hinted on the importance of maintaining a standard or brand perception for your business. She noted that you can keep baggage in your business, just discard people not adding to your business growth.
“How you start determines how far you go…. As a business owner, what do you stand for? People have to know what you stand for.”
“Reputation is what you pass on and so whatever will damage your business, don't do.”
Some of the keynote speakers and members of a discussion panel at the event include Tara Fel-Durotoye, CEO, House of Tara International; Mr Nnamdi Ezeigbo, Founder & CEO of SLOT Nigeria; Mrs Omolara Akinfolarin of Sterling Bank Plc among others.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT