#Business

Ondo entrepreneurs lament insecurity

By Francis Akinnodi

|

Entrepreneurs in Ondo state have said financial insecurity and multiple taxation are major challenges facing the sector in Nigeria.

They disclosed this in an interview with The Hope at the weekend.

Reacting to a development where some manufacturing companies operating in Nigeria are closing down or relocating their operations. Greatsheyi Akintunde said, “When you bring in your money and in just a short while it depreciates due to the value of our currency, it means your money is not secured.

“Insecurity is not just about guns and weapons but how secure the funds of investors that come into the country are.

‘“No businessman wants to put his money where he is unsure of the returns on investment.

“So, those in charge of our monetary policy should urgently look towards this direction and proffer solutions,” the Akure based manufacturer said.

Also, an entrepreneur, Omolade Owoseni said the challenge of multiple taxation which occurred mostly by lack of coordination by the three levels of government should be tackled as it was hindering growth of small businesses.

According to him, another major bane of the manufacturing sector in the country is cyber insecurity and the unwillingness of manufacturers to embrace technology.

“To secure your money and investments, you must encourage technology, as an investor.

“By this, you must dedicate some of your money for training and retraining; you must be willing to provide the right skills for your members of staff,” he said.

They dispelled the notion by many that, embracing technology would create unemployment.

According to them, the use of technology would lead to the discovery of many other neglected areas that needed human interference which would in turn create more jobs.

They urged the government at all levels to create an enabling environment for small business owners to thrive while urging Nigerians to patronise made-in-Nigeria products.

Share
Ondo entrepreneurs lament insecurity

Ekiti to inject N1b into Coops

Ondo entrepreneurs lament insecurity

‘Cash crunch may last till January’

Leave a comment

Your email address will not be published. Required fields are marked *