General News
PROF. Gunu Umar of the Department of Business Administration, University of Ilorin, has called for establishment of business incubators to promote entrepreneurial skills across Nigerian institutions.
Umar made the call while delivering a paper at the 27th inaugural lecture of the university, titled: “What Matters Now: Change Matters”.
The don, a lecturer at the Faculty of Management Sciences, explained that business incubators are specialised programmes structured as spaces for new businesses to learn and grow.
According to him, such programmes will offer services for entrepreneurs and start-up while giving reduced rates for supplies and work space.
Umar said that one of the forces in Nigeria’s business today are entrepreneurs who are seen at work in many different areas.
He said that the most peculiar of these might be called the classic small scale business who provided the logical starting point for big businesses.
“It is also the small scale business which primarily carries the entrepreneurial thrust. The strength of an economy depends on the strength of its small business,” he said.
The business administration expert advised government and rich individuals to provide seed capital to begin developing idea for business or product.
He also advised universities to establish entrepreneurship clinics to develop the highest quality, entrepreneurial-minded students with the skills to make significant impact.
“The universities and government can initiate and sustain biannual and annual business plan competition, to stimulate entrepreneurship among students,” he said.
Umar added that the institutions and government could also organise business exhibitions as a competitive arena for showcasing people’s ideas for products and services. (NAN)
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