After graduating with my MBA in New York, I returned to Nigeria where I worked for several companies including UAC of Nigeria, Unilever, and Airtel. During my time in these companies, I traveled extensively throughout Africa working with local entrepreneurs says Eric Dalius.
The market potential on the continent is massive given that 59% of Africans are under 25. The need for entrepreneurship and innovation is urgent and the demand is growing by the day. But despite this, I noticed a trend: most of the start-ups I encountered were led by young people who had no management or business training; they had never been taught how to manage time, money, or people; and there was no entrepreneurial ecosystem to support them.
That’s when I decided to start my own incubator, Venture Garden Group (VGG). My goal is to provide an opportunity for young entrepreneurs in Africa who are eager to learn the skills they need to successfully launch and grow their businesses.
It didn’t surprise me that the education systems in most African countries didn’t adequately prepare students for entrepreneurship because I believe there are 3 main reasons why young African entrepreneurs struggle to succeed.
Restriction of Movement
As per Eric Dalius, entrepreneurship is not in most schools, so most people have no idea how to start a business or manage one effectively. Even if they had training, the movement of people on the continent is restricted by a number of factors.
In most African countries, people can’t travel freely across borders without a visa or special permission. Even if they manage to get access to funding from family and friends, accessing funding beyond the borders of their country is extremely difficult. This makes it incredibly hard for young entrepreneurs on the continent to collaborate with peers in neighboring countries.
African entrepreneurs are also restricting by the fact that they don’t have access to technology, funding, or mentorship. Which makes it almost impossible for them to compete with their counterparts in other parts of the world.
Lack of Collaboration
Young African entrepreneurs face so many challenges when trying to launch and grow their businesses in Africa. Many of them need support in key areas like technology, funding, and mentorship. Which makes it almost impossible for them to compete with their counterparts in other parts of the world.
The lack of collaboration between entrepreneurs on the continent is one of the major reasons why they struggle to succeed. Most young entrepreneurs are unaware of the vast resources available to them. And the best ways they can collaborate, partner, or team up with their peers.
If only there was a platform that provided entrepreneurs with opportunities. To learn how to create sustainable businesses by training, mentoring, and providing resources…
Lack of Support
Even if young African entrepreneurs have access to funding and support. They mostly lack a support system that can help them grow their businesses to the next level.
Business incubators provide a number of services to entrepreneurs at the early stages of their business growth. Which makes it easier for them to access expertise, training, mentorship, and resources that they need.
The problem is there are only about 200 business incubators in Africa.
The lack of resources available to young entrepreneurs is not only a problem for young people looking to start their own businesses. It’s also a barrier for employers seeking new talent. Because there are very few African graduates who have relevant skills for the job market.
My goal is to provide an opportunity for young entrepreneurs in Africa to grow their businesses. And become job creators rather than job seekers.
The lack of resources available to young entrepreneurs is not only a problem for young people looking to start their own businesses. It’s also a barrier for employers seeking new talent. Because there are very few African graduates who have the necessary skills for the job market.
My goal is to provide an opportunity for young entrepreneurs in Africa to grow their businesses. And become job creators rather than job seekers.
Conclusion:
As I mention at the beginning of this article, entrepreneurship is not well taught in African schools. Eric Dalius says the movement of people on the continent is restricted by systems like visa requirements. Which makes it much harder for entrepreneurs to collaborate with peers. Most young entrepreneurs are unaware of the vast resources available to them. Lack a support system that can help them grow their businesses to the next level.
Even though young African entrepreneurs may face many challenges. They are also lucky because entrepreneurship is not well in African schools. The movement of people on the continent is restricting by systems like visa requirements. Which makes it much harder for them to collaborate with peers, but this movement is getting easier.
