Starting, sustenance of business, an x-ray at NNEW forum

NECA Network of Entrepreneurial Women (NNEW), an organisation committed to building generations of successful women entrepreneurs, did an x-ray on starting and sustaining a business at its Annual General Meeting (AGM) held last Thursday in Lagos.

Entrepreneurs’ challenges Folake Oyemade, managing director/chief executive officer of Sam & Sara, was invited as keynote speaker to x-ray this vital topic drawing from her own business experience. Lola Okanlawon, NNEW president, in her address of welcome at the AGM, said the operating environment has remained challenging with numerous problems that entrepreneurs have had to contend with.

“SMEs have to provide all the amenities and infrastructure for their businesses that will enable them to function, such as generating their own power, providing their own security, water and enduring multiple taxations from local and state governments. All these add to the cost of doing business,” Okanlawon stated.

In addition, she mentioned the difficulty in accessing funds for business operations but however expressed hope that the N220 billion MSME fund introduced by the federal government some months ago will give more women access to interest-free loans with comfortable lending terms and conditions.

Synergies

NNEW, established 10 years ago under the aegis of the Nigeria Employers Consultative Association (NECA), organises an array of programmes during the year, all centred on sharpening the skills of existing women entrepreneurs in managing and expanding their businesses as well as empowering aspiring ones to start their own business. The network synergises with seasoned male and female entrepreneurs who may or may not be members of the network by inviting them to speak at its network meetings, AGMs or summits. These entrepreneurs have grown businesses from scratch and in spite of the numerous challenges in the business environment, their enterprises have become highly successful.

Successful business

Sam & Sara, for instance, in very simple terms is a tailoring outfit that has grown to become a large manufacturing concern providing jobs to thousands of people. Sam and Sara and its offspring called Omoluabi Garment, which is partly owned by the Osun state government, have become highly successful because they are using the most modern hi-tech equipment in the production of garments. That way, they can produce as many as 100,000 units of uniforms or other garments generally within a short period. Apart from government schools, the company also produces garments for blue chip companies, private schools and police authority.

Technology

The ultra modern equipment has given the company edge over others. Due to its mass production capacity, it can supply garments to clients at a relatively shorter time and lower prices. It now has branches in Mowe in Ogun State, Osogbo in Osun State and Port Harcourt in Rivers State. It has also started exporting its products despite huge documentation challenges and suspension of the Export Expansion Grant. It has also been able to take advantage of the African Growth and Opportunity Act (AGOA). AGOA was started by the United States government to allow African countries to export goods produced in the country to the United States without paying duties.

Starting out

The x-ray done by Oyemade, the Sam & Sara managing director, revealed that the company started business in 1987 as Bijoux Unisex Collections. It has grown to become a foremost garment manufacturing outfit. Over the years, Sam & Sara has cultivated an enviable pedigree of quality and constantly improved processes of garment production with its brands becoming household names in the areas of corporate wear, promotional wear, school uniforms, hospitality uniforms, paramilitary/security uniforms, professional wear, robes and academic gown. The company also manufactures accessories such as logo ties, logo scarves, lanyards and so on.

Sustenance

In accordance with its clients’ needs, the company researches, develops designs and produces garments to meet the intended purpose and expectations. The ‘Impresza’ brand of garments is produced to reflect fine craftsmanship and elegance that suit the aesthetic taste required for a positive and lasting impression.

To stay on top of the game, Sam & Sara constantly updates its production facility to meet the ever changing trend in the garment industry. This explains why its products are top-notch, capable of competing with the best in the areas of aptness, comfort and durability.

With the completion of its ultra-modern workshop, its manufacturing process has been integrated to facilitate all the process involved in garment manufacture under one roof.

Succession

On the issue of succession planning raised at the NNEW AGM forum, Oyemade said, “Like every other business, it is the structure you put in place that will determine whether you will have a succession.” She cited examples of successful entrepreneurs like Bill Gate, Donald Trump which are not always at their place of business but their businesses run. “You just need to have the right structure in place,” she maintains.

Niche

Oyemade also explained that she never actually studied fashion designing but started the business because she saw a niche, a gap, an opportunity. “I have always been an enterprising person. To me, it is business. I didn’t study fashion designing; it is just about management. I look around me for people who have the skills.”

Also during the NNEW forum, representative of Sola Oworu, commissioner for commerce and industry, Lagos State, also stated that the group (NNEW) has fared well in enlightening Nigeria women entrepreneurs.

NNEW also appreciated members who have been with the network from its inception 10 years ago as well as the second set of executive members who have served faithfully since its inauguration five years ago. They include Deronju Odunsi, Fayo Williams, Maria Eka, Obiageli Nwobi, Adebimpe Opegbemi and Lola Okanlawon. Others are Modupe Ehirim, Edobong Akpabio, Kenny Omojola and Modupe Oyekunle. Apart from Lagos, NNEW also has chapters in Abuja and Rivers State. The network will be launching its women’s Microfinance Bank April 30 this year, the first ever women-owned and centred bank in the country.

OLUYINKA ALAWODE