• Itsekiri NextGen Project: 2023 Session 10 Report
• Topic: Entrepreneurship Education
• Date: Saturday, 4th March 2023
• Volunteers Present: 5
• Total Number of Attendees: 53
• Timings: 10:00 am – 1:00 pm
• Venue: Former Caravan 4, Aja-Pessu (Pessu Town), Warri

Introduction

The 10th session of the Itsekiri NextGen Project focused on Entrepreneurship Education. The objective was to prepare young participants for entrepreneurship and identify potential entrepreneurs among them. The session was held on Saturday, 4th March 2023, at the Former Caravan 4 in Aja-Pessu, Warri. The event was well-attended, with 53 participants and 5 volunteers present.

Session Overview

The session commenced with an opening prayer by the coordinator, followed by the singing of the Itsekiri anthem led by Misan Gbubemi.

Oritseweyinmi Thomas Igbineweka, the resource person, facilitated the session. He began by introducing a Creed, recited by both participants and volunteers, emphasizing the possibilities of success in the entrepreneurial world with determination and the acceptance of information technology.

Entrepreneurship Fundamentals

Mr. Igbineweka elaborated on the essence of entrepreneurship, stating that its primary objective is to make a profit, which often involves financial risk. He clarified that anyone whose parents run a business or provide services to others is already part of an entrepreneurial environment.

He then outlined the rudiments of entrepreneurship, explaining them in detail to ensure proper understanding. When a participant inquired about the term “rudiment,” Mr. Igbineweka equated it to qualities necessary for successful entrepreneurship. The rudiments listed were as follows:

1. Innovation: The ability to create new ideas or products.
2. Risk-taking: A willingness to embrace uncertainties associated with business ventures.
3. Vision: Defining the purpose and goals of the business.
4. Organization: Being well-organized is crucial for a successful entrepreneur.

Steps to Becoming an Entrepreneur

The facilitator discussed the step-by-step process of becoming an entrepreneur, which included finding a profitable business idea, developing a product, validating it, writing a business plan, securing funding, launching the business, and managing it effectively. He emphasized the importance of continuous learning and embracing positive innovations for business growth.

Entrepreneurship and Funding

To address financial constraints, participants were encouraged to document their business ideas and develop them into a comprehensive plan or proposal. Such plans could be presented to potential investors or used to apply for funding, such as grants.

Interactive Session

During the interactive session, participants engaged in Q&A with enthusiasm. The concept of financial risk was clarified using an example from the coordinator’s experience in the perfume business. The facilitator emphasized that all businesses involve risks, and entrepreneurs often take calculated risks with optimism.

Additional Activities

Apart from the main topic, other key activities included providing business ideas to some participants for enhancing their parents’ businesses, focusing on building a digital presence, improving branding and packaging, and creating E-fliers for effective advertisement.

Conclusion

Overall, the session on Entrepreneurship Education was well-received, and participants demonstrated a genuine interest in learning about the world of entrepreneurship and its potential opportunities. The Itsekiri NextGen Project successfully provided valuable insights to the young minds, nurturing the spirit of entrepreneurship within the community.

Challenges

One parent expressed concern about their child’s poor academic performance.