‘I started my business with N100,000 loan’

Madu Chikwendu is the Chief Executive Officer of MCM group. He is an entrepreneur with vast experience in the entertainment industry, spoke with JOSEPHINE OKOJIE on the challenges entrepreneurs face in the industry and Government decision to build an entertainment city.

When did you start your business?

Istarted my business in 1994 after I left the Nigerian Television Authority (NTA) were I had gained experience before starting my own business.

What inspired the business?

With my vast experience in the industry and my aspiration to become a film producer made me go into the business. I also have so much passion for the movie industry.

What was your start up capital?

I started my business with N100,000 and it was a loan I took from my brother in law

Have you received any external support from any organisation?

My business has not gotten any external support financially but we are hoping to get a government grant for expansion drive very soon.

How far would you say your business have grown since starting?

Since starting my business has grown into a number of other companies

Can you tell me about your background, that is your educational and work experience?

I have a Masters in Art (MA) from the University of Lagos and a Bachelor of Art (BA) in Literature from the University of Port-Harcourt in 1989. After my university education I got a job with NTA as a script writer where I gained experience before establishing my own business.

Why the entertainment industry?

I started my career in the entertainment industry because I have lots of experience in the sector. I started as a script writer with the Nigeria television authority (NTA).

What do you think about Government decision to build an entertainment city?

It is a welcome idea and it will move the industry forward and create jobs for unemployed graduates. The direction of the project is not totally clear, we don’t know if it is a sound stage, theme park or a hybrid.

What are the challenges are you experiencing in the business and how where you able to overcome them?

Lack of basic infrastructures and power have being a major challenge. Lack of structures, absence of self regulation and our government regulate the industry.

Do you have employees, full time or part time?

I have both full time and part time staffs. I currently have 20 full time staffs now. Full time staff and from twenty part time depending on the scope.

Any future plans?

Yes, I plan expanding through Equity

How do you intend to overcome competitors?

Through Innovation, research and investment in New Media and learn to be creative

Advice to young entrepreneurs?

Acquire training and skills. Talent is inborn but skills are acquired. Talent without skill is nothing; skill without talent can degenerate to mediocrity. You require Skill and Talent try to excel in the entertain business.

JOSEPHINE OKOJIE