#Business Tutor

Think Entrepreneurship: Skill acquisitions (11) Mechanics -Rewiring, Panel Beating, etc

By Abosede Ajala


It will be good to note that there is no consensus among policy makers and scholars concerning the point at which a business/firm is deemed to be small, also there is no universally or even nationally acceptable standard definition; except that the scale of business needs to be defined for a specific purpose.

Teaching and learning entrepreneurship mostly triggers the establishment of small and medium scale enterprises (SME’s), for this greatly provide over 80% of employment opportunities for the citizens and equally promotes indigenous technology.  Recognize that small business employs well over 53% of the private workforce and can also be accounted for quite a huge number of sales and thereby putting the gross domestic product (GDP) to at least more than 50% on the nation’s economy.

Therefore, the SME’s now predominate the economy in the developed countires whilethe developing countries are making ways.  The success stories of small and medium scale enterprises are talked about in many countries and their activities in contributing to revitalized local communities.

Primarily, SME’s are expected to serve as bedrock of supply of promising entrepreneurs who would like to be ready to take calculated risks in other to explore new ideas on favourable market development and which is further expected to assist in entrepreneurship and skills development.  Hence, the proliferation of virile SMEs could be an antidote to an unemployment which could be helpful in mitigating the rural-urban drift.

Owing to the above the SMEs would not only have encouraged indigenous technology but can promote the establishment of many industries. Therefore, it is good to see the need for an entrepreneur been trained in the appropriate management skills, to manage capital, technology, purchased efficient equipment.  Knowing how to key into some of the government policies through national development plans, annual budgets and infrastructural supports specifically for entrepreneurs.  Such as;

  • Industrial Development Centers (IDC’s)
  • Small Scale Industries Credit Scheme (SSICS)
  • The Nigerian Bank for Commerce and Industry (NBCI)
  • The Nigerian Industrial Development Bank (NIDB)
  • Central Bank of Nigeria (CBN)
  • World Bank SME Loan Scheme
  • National Economic Reconstruction Fund (NERFUND)
  • The National Directorate of Employment (NDE).
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Some of the above are vibrantly running, it is expected of the entrepreneur to come out of shell and do not allow that idea to die a premature death by subscribing to the above.

Mechanics – rewiring, panel beating of cars is another lucrative skill, comparing the number of cars/motors/vehicles etc in this era.  Virtually, every home in this our locality/state/nation have cars, it is not possible for one not to visit the mechanics for at least three times in a space of 3 months.  It is advisable that to maintain a car extensively, one needs to service his/her car at least once in three to six months.  It took an average of 3-5 years to learn.

‘Learn a trade today and be empowered for life’.

Think Entrepreneurship: Skill acquisitions (11) Mechanics -Rewiring, Panel Beating, etc

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