Mr Winston Ikekeonwu, an expert on Information and Communication Technology (ICT), on Monday advised young entrepreneurs to ensure they develop a viable business blueprint before investing.
Ikekeonwu, the Chief Executive Officer (CEO) of Align Academy, told the News Agency of Nigeria (NAN) in Lagos that venturing into business required practicable models capable of yielding profits.
He decried the rate of failure many young Nigerians usually encountered in their business enterprises due to faulty blueprint.
According to him, entrepreneurs need to increase entrepreneurial thinking through proper education that will bring forth innovations to improve the economy.
“A fundamental challenge facing most entrepreneurs is faulty business models. Many indigenous entrepreneurs have limited scopes in their thoughts about business and the results always show,’’ he said.
He said that someone with a blueprint for building a mud hut would not be able to build a 3-storey building.
“We need to increase entrepreneurial thinking through proper education,’’ he said.
He commended the various centres for entrepreneurship development in the nation’s universities and urged them to continue to highlight programmes that would encourage critical thinking and problem solving.
Ikekeonwu urged both the Federal and state governments to improve on infrastructure such as power and internet facilities as well as accessibility to funds to bring out the best in the start-ups.
He appealed to them to formulate policies that would create an enabling environment for business entrepreneurs to thrive in the country. (NAN)