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1. BUSINESS CONTINUITY MANAGEMENT

We shall be embarking on a couple of Business Continuity Management (BCM) activities to enable us help MSME promoters identify risk(s), threats and vulnerabilities that could impact on their continued operations/existence and help provide  frameworks for building organizational resilience and the capability for an effective response. Our objective in the Business Continuity Management program for MSME promoters is to make their business entities more resilient to potential threats and allow their entity’s to resume or continue operations under adverse or abnormal conditions. This will be accomplished by the introduction of appropriate resilience strategies to reduce the likelihood and impact of a threat and the development of plans to respond and recover from threats that cannot be controlled or mitigated.

 

2. BUSINESS DEVELOPMENT SERVICES

We have and will continue to work with micro-finance institutions and other providers of funds for start-ups and MSME promoters to help in the development of sound business models for entrepreneurs across six major cities of Nigeria for a start. 

We will also work with micro-finance institutions and financial cooperatives to provide business development services to persons with loans classified as either non-performing or doubtful, by doing this we help ensure such loans don’t fall into the loss category and negatively impact on the continued ability of the banks or cooperatives to lend to MSME promoters.

Our work with micro-finance banks will also extend to offering business development and management services to certain category of customers on their loan records, especially those having challenges meeting their repayment obligation. In this regards we will offer such customers continuous training services to help them turn around their business entities and meet their repayment obligations.

 

3. ENTERPRISE RISK MANAGEMENT 

We are of the understanding that an active management of the risks borne by micro-finance banks and financial cooperatives is critical to their ability to remain financially sustainable and achieve target development impact(s). Our advocacy group has developed a comprehensive enterprise risk management framework within which risks are continually identified, measured, monitored, analyzed and controlled. This ERM framework will be deployed to all non-bank micro-finance institutions. We will be partnering with Association of Non-bank Micro-Finance Institutions (ANMFIN) to attain a national spread for this project.

 We have helped and will continue to help financial cooperatives understand the Key Risk Management Principles as listed below

• The effective balancing of development impact, risk and reward; 

• Ensuring business decisions are based on an understanding of risks; 

• Being extremely selective in undertaking activities which may result in adverse reputational impact; and 

• Shared responsibility for risk management across the entities. 

Our desire is to help financial cooperative balance their risk appetite and tolerance. We will work with select financial cooperatives to translate risk appetite and tolerance into limits, policies, procedures and directives. We work and will continue to work with them to regularly measure, monitor and evaluate their risk profile to ensure that both individual and aggregated risks remain within the ranges deemed acceptable.

 

4. BUSINESS RECOVERY AND INSOLVENCY PRACTICE

We have helped and will continue to help business entities with loans classified as non-performing, doubtful and loss especially those whose loan repayment obligations are way higher than their capital base turn -around their businesses and become profitable again.

 We provide platforms that help in running their businesses, constructing and negotiating deals or investigating and advising on the viability of the business and its restructuring needs. We have a dedicated team with the requisite skills to deal with creditors, anxious directors, concerned employees and a range of other stakeholders in the business entities where we offer business recovery and insolvency practice.  This has helped removed several business entities recover from position of insolvency and huge loan defaults and reposition them to continue business on a better structured and managed position.

 

5.  CAPACITY BUILDING FOR COOPERATIVES AND BUSINESS GROUPS

We have worked with several agencies and individual groups to provide capacity building and enablement for cooperatives and business groups with particular emphasis on those based in rural areas and states. We have a framework that enables us partner with foreign and reputable local organizations to work together and help build capacity for cooperatives, micro-finance institutions and business groups.  We also provide institutional support and enablement for micro-finance institutions, financial cooperatives and business groups.

6.  ENTREPRENEURS CLUBS IN SCHOOL

Our desire to grow the right set of entrepreneur skills needed for effective business start-ups led us to partner with National Universities Commission (NUC) and National commission for Colleges of Education (NCCE) for the launch of entrepreneur clubs in select tertiary institutions in Nigeria. The entrepreneur clubs are patterned after the  “Jet clubs” we used to have in secondary schools in the years past and is designed and conceptualised to teach the rudiments of business start-ups management and practice to the next generation of entrepreneurs that Nigeria will be proud of. We are hoping to expand the scope of the project to include a wider range of tertiary institutions in the coming years.

7.  BUSINESS TRANSFERS

A recent business best practice stock taking conducted for business entities funded under the YOUWIN initiative showed that over 30% of business start-ups funded by YOUWIN (youth enterprise with innovation in Nigeria) have failed, this is in addition to other statistics that showed that barely only about 50% of start-ups survive the first five years in business, of that 50% it has further been revealed that only about 20% of those business have hopes of remaining afloat five years after.  We are working with select government and private establishments to design business transfer programmes that will be used to effectively transfer business entities having sustainability issues and those with huge debt repayment obligations and more importantly, those seeking to voluntary liquidate the business entities.  We are hoping to remove the stigma of failure from entrepreneurs whose business entities fail to survive the first five years in business and also for those seeking voluntary liquidation of their business entities.  It is our desire to conclude talks with the select establishments and deploy the business transfer models/ programmes in the third quarter of 2016.