Wisdom Engraced
Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us
Mo Thompson’s Consulting has unveiled an ambitious initiative to support 10,000 microenterprises owned by military and police officers’ wives across Nigeria. The program aims to equip these entrepreneurs with essential tools and strategies for sustainable business growth.
For further information, read more details here
At the launch event held at ICAN House in Lagos, Senior Partner Mohammed Thompson emphasised the need for structured business models to ensure long-term success, despite Nigeria’s economic challenges. “We help business owners refine their applications and business models to align with Nigeria’s economic realities. Many entrepreneurs start with money and an idea but lack the structured plan needed to sustain their ventures,” Thompson explained.
Thompson stressed that many businesses fail within two to three years due to inadequate planning and structure. “It’s one thing to have capital, but it’s another to grasp the volatility of your industry. Without proper knowledge, structure, and a well-developed business plan, businesses struggle to survive,” he noted.
Having grown up in a military environment, Thompson understands the unique challenges faced by entrepreneurs within barracks communities. “Most businesses that start in military barracks rarely expand beyond that environment. Our goal is to mentor and support these entrepreneurs, helping them scale their ventures beyond the barracks and into national and international markets,” he stated.
To achieve this goal, Mo Thompson’s Consulting is partnering with key organisations such as the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Bank of Industry, and the Ministry of Trade and Investment. These collaborations will facilitate access to government interventions and funding opportunities.
For further information, read more details here
The initiative will focus on members of associations such as the Nigerian Army Officers’ Wives Association (NAOWA), Police Officers’ Wives Association (POWA), and the Defence and Police Officers’ Wives Association (DEPOWA). “We are not reaching all 10,000 people at once. We have a system that enables us to engage the right participants. Each partner association will be given a quota per state, ensuring that women from across the country benefit,” Thompson explained.
The program will employ a mix of virtual learning, mentorship, and in-person engagements. “Many of our activities will be conducted online to reach a wider audience, but when needed, we will travel to different states for hands-on engagement,” Thompson added.
Thompson noted that many entrepreneurs struggle to secure funding due to lack of awareness and improper business plans. “Mo Thompson’s Consulting serves as an intermediary, guiding business owners through the funding application process and ensuring accountability,” he explained.
The consulting firm boasts a team of seasoned professionals, including experts in grant writing, financial advisory, technology, and legal services. “We have a certified financial advisor, an experienced tech expert, and legal professionals to assist with business registration and documentation. This is not a one-man operation; it’s a team effort to ensure businesses succeed,” Thompson emphasized
Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it.
Drop your comment in the section below, and don’t forget to share the post.
