Don’t Take Bank Loan To Start Business-Don, Industrialist Warn Youths - EDU-BIZNEWS


Sunday, September 26, 2021

Don’t Take Bank Loan To Start Business-Don, Industrialist Warn Youths

A  university don, Prof.Olufunmilayo Braide and an industrialist,the Oganla of Owu-Abeokuta,Hon.Johnson Olu-Fatoki have warned  youths aspiring to be entrepreneurs against taking bank loan to start their businesses, if  they must survive as business owners

They both issued the warning in their separate comments on Sunday at a maiden symposium organized by  youths wing of the  Royal Union of Owu People(RUOP) held Inside the palace of  Olowu of Owu-Abeokuta, to kick-start activities celebrating the “Odun Omo-Olowu 2021

Prof .Braide, a guest lecturer  from  the Federal University of Agriculture Abeokuta(FUNAAB) speaking on the theme of the symposium “The Need For  Entrepreneurial Aspiration In Youth Development”, urged the youth to begin their businesses with their little resources as working capital, saying starting a business does not require for millions of naira or bank loan that will kill such business with huge interest rate

The guest lecturer sharing her experience of 35 years in the local Adire fabric, tasked aspiring entrepreuners to be creative and initiate idea that generate the needed money to start  their  businesses 
 "You should start anyhow, stop procastination,start with the little you have, you must  understand the business environment before you venture into any business and be careful not to eat into your working capital, she cautioned

The professor ,an indigene of  Owu whose Adire-Ojubo business outfit based in Abeokuta, now has branches in three countries, enjoined youths as aspiring entrepreneurs to diversify their businesses. "Entrepreneuer should have more than one sources of income,there should be two or seven sources to sustain yourself in business"

Also advising the youths,the Chief Executive Officer of Olu Ventures Nigeria Limited and Owu-Abeokuta High Chief, Hon.Olu-Fatoki explained that bank loan could be obtained to build on the successes recorded by business organizations or consolidate on it, by expanding the scope of their businessses

Other high-points of the symposium included the skills acquisition training on bee keeping delivered by Alhaji Mohammed Akinbowale who offered tips on how to start bee keeping and make money while Mr.Kayode Ojo, an entrepreuner of over 16 years experience and Mass Communication graduate of the Olabisi Onabanjo University,Ago-Iwoye, stressed the need for aspiring youth entrepreneurs to consider the business Concept of backyard farming in their houses in order to feed their households , create jobs and make money for themselves

Leader of the Owu Youth,Prince Adetilo Muhad in a chat with Edu-Biznews on the sideline of the event ,explained that the sympossium was organized to kick-start activities for the Odun Omo-Olowu 2021 and to make  youths come to term with reality that there is no more white collar jobs by exposing them to how to start their businesses, create jobs for others and make money for  themselves

He specifically praised the Olowu of Owu-Abeokuta Kingdom, Oba Adegboyega Dosunmu represented by his wife, Olori Bosun Dosunmu, for the rare opportunity provided by the monarch for the recognition given to the youths to use the annual Odun Omo-Olowu 's platform to focus on human capital development

The youths leader appreciated the support of Owu Club, obas under control of the Olowu and high chiefs of Owu kingdom

In his goodwill message, the Akinlogun of Owu-Abeokuta Kingdom, Chief (Dr.) Oluseyi Adediran, a member of Owu club accompanied by the club's General Secretary ,Bada of Owu, Chief Oluwole Idowu, commended the youth leadership for the initiative to organize  such symposium, to expose the youths to the danger of drug abuse, aside promoting the entrepreunership spirit to create more jobs in the society and take them away from the anti-social vices greatly influenced  by hard drugs 

The event attracted dignitaries including the Fadere of Owu kingdom, Chief(Mrs)Jolaoluwa Opaleye who was the mother of the day and also represented her husband, the Balogun of Erunmu-Owu, Chief Ekundayo Opaleye, Owu Obas and high chiefs ,national president of Owu youth, Alhaji Akeem Yusuf and former president, Abdulrasheed Egbeyemi amongst others

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