Shell equips 5,000 trained entrepreneurs with start-up capital
Over 5,000 youths between the ages of 18 and 35 have so far been trained, equipped and pushed into the business world as entrepreneurs in a scheme known as LiveWire.
On Tuesday, October 8, 2013, another batch of 50 trained and equipped entrepreneurs from the oil region was unleashed into the business world by the Shell Petroleum Development Company (SPDC) Joint Venture.
Each of the 50 beneficiaries went home with N300,000 to start their businesses but more financial support lies ahead in the next one year, according to SPDC officials. The flag-off took place at the Atlantic Hall of Hotel Presidential on Aba Road in Port Harcourt, Rivers State. Most of the previous beneficiaries said they appreciated the explosive and penetrating training they got over the fund that went with it.
Twelve high-fliers from the 2012 batch were also handed another N200,000 each as a mark of encouragement while the best three best trainees for 2013 were given awards.
According to Nedo Osayande, the general manager, sustainable development and community relations of SPDC, LiveWire which began in 2003 has pushed out over 5,000 saying over 2,000 have so far been financially assisted to become entrepreneurs with a harvest of success stories.
Osayande said: “These young entrepreneurs are now business owners! They are creating employment opportunities for other youths and contributing to the reduction of youth unemployment and poverty in the region.”
He said LiveWire has won recognition at home and abroad for its live-transforming capability. “In 2011, the programme received the African Leadership Magazine Award and some of the beneficiaries have gone ahead to win other awards including the Central Bank of Nigeria Entrepreneurial Award. The Go Trade Enterprise Linkage Award in 2010 enabled them to make international trade visits to London and Dubai.”
He said the scheme was in line with the company’s business principles encapsulated in their social development policies of contributing to economic empowerment and job creation for youths in the Niger Delta.
Giving insights into how the beneficiaries emerged, the general manager said over 1,000 applied for 2013 but that 300 were selected before written tests reduced the number to 50. The lucky ones underwent weeklong training with the best hands in entrepreneurial skills. Those with the ability to produce bankable business plans were selected. “But it does not end here.
This group will be eligible for additional financial support after one year, only upon successful performance.”
The start-up entrepreneurs may not look far on how to emerge as stars. Three model entrepreneurs were brought to the stage to give motivational tips, with huge applause as response.
Belema Ogbuigwe, the executive director, Centre for Information and Development, a pioneer recipient (2003), thrilled the newcomers on how she managed her capital, waded through storms and emerged as a thriving business magnet with employees.
She made it clear that the 68million youths of Nigeria must create jobs for themselves instead of waiting on over-burdened relations.
Julie Olokor (2010 batch) from Ugheli in Delta State kept the audience spellbound with her raw talk on how LiveWire proved her starting point to success even when she had no connections to make her big.
“I made good use of my capital. There are challenges but you must face your own type of challenge. I must do my best to success and you must do same.”
The last was reserved for Paschal Eze, 29-year-old Lagos-based who asked the newcomers to appreciate the training, not just the cheques. He urged the beginners to make decisions right away on what to do and face it squarely.
“If my society does not owe me, I owe it to my society. If my society does not make me proud, I must make my society proud. You owe yourself success.”
Eze, who said he was selling stuff while in school caused uproar when he said he often sold his suits and ties to fellow bank workers to make profit. “Working in Shell was not my idea of success. Shell cannot employ the 70million Nigerian youths but the Corporate Affairs Commission (CAC) can register 70million companies.”
He also warned young entrepreneurs thus: “The company you keep will determine 70 percent of your success. Make savings your policy. Do not live within your means but far, far below your means. Separate your income from that of your firm.”
Jude Okwor, the branch manager of the United Bank for Africa (UBA), gave tips on financial discipline required of the beneficiaries and said the bank would not require collateral from them but evidence of financial disciple.
He told them how to keep records and the kind of entries banks love a lot, saying it was important to remain in area of competence and repay loans quick to get new ones.
Most of the beneficiaries showed huge signs of enthusiasm to play by the rule in their new calling as entrepreneurs especially as they found Shell, UBA and Wider Perspectives behind them.
By: Ignatius Chukwu