TAFTA seeks tax rebates, security for young entrepreneurs

The Terra Academy for the Arts has urged the Federal and state governments to tackle insecurity and introduce tax rebates and other incentives for young entrepreneurs to enable them to establish and grow sustainable businesses.

The Academy Lead, TAFTA, Joseph Umoibom, made the call on Saturday at the second edition of the Ogun Women Entrepreneurship Development Programme organised by TAFTA in conjunction with the Mastercard Foundation at the June 12 Cultural Centre, Abeokuta.

Umoibom said insecurity remained a major challenge to entrepreneurship, particularly in the creative industry, where businesses often required people to move around and operate beyond conventional working hours.

He said the government must create an enabling environment where entrepreneurs could operate safely and freely.

Speaking on what the government could do to boost entrepreneurship in the country, the Academy Lead said, “The first and foremost thing is creating the enabling environment, and this starts with safety and security. Especially for creative businesses that a lot of times may need people to come out. If the environment is not safe, will I go out?

“Sometimes people are skeptical about going out after a certain hour because of safety. Safety is the most important, and in fact, it should be the priority of any government. People should be able to move freely at any hour of the day or night within a country.

“Nigerians are talented and hardworking; they want to work, but sometimes the environment does not allow you because you are not safe out there.

“And then, you see the government coming with crazy taxes, businesses that have not even started, that are trying to find their footing, and you come with taxes that they will be struggling with. Why don’t you have tax rebates and incentives for young people starting businesses? The government should look into all these areas.”

He also urged young entrepreneurs to prioritise integrity and be problem solvers to build successful careers in entrepreneurship.

“Young entrepreneurs must prioritise integrity because people should be able to trust you to want to do business with you. People lose it when they start cutting corners, and people are now doubting; nobody wants to patronise you, nobody wants to partner with you.

“Look for how to solve a problem, because people will pay to have their problems solved. If you’re doing a business that is not solving anybody’s problem, you will struggle.

“But if I have a problem, and I turn around and I see a business that can solve that problem, I’ll patronise that person. And I bet that I’m not the only person that has that problem. I’ll tell other people, ‘Ah, I’ve found a solution.’ That’s the spirit of business.”

The Programme Manager for Ogun State, TAFTA, Oluwafemi Oluwasuyi, said the academy, in partnership with the Mastercard Foundation, had trained more than 67,000 young Nigerians in Lagos, Ogun and Kano states over the past four years, adding that more than 25,000 young people had been trained in Ogun State alone.

Oluwasuyi revealed that the programme, which ran for three days, had its first two days conducted virtually, while the final session was held physically in Abeokuta.

He said about 400 young women participated in the second cohort of the programme, which was designed to equip them with entrepreneurial knowledge, mentorship and business support.

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The Programme Manager stated that TAFTA had been training young people across Lagos, Ogun and Kano states in creative skills such as sound design, lighting design, scriptwriting, animation and arts business.

He added that the intervention was not limited to training, as beneficiaries were also supported to secure employment, freelance opportunities or establish their own businesses.

“As part of the training, the Women Entrepreneurship Development Programme is to develop and groom those of them that want to go into entrepreneurship.

“We bring in experts, people that have been in business, started from scratch and have been successful. We bring in facilitators that can guide them and show them how to thrive and be successful in this difficult business economy that Nigeria is in.”

He said the programme provided participants with networking opportunities, business mentorship and support to enable them to move from having business ideas to establishing and scaling viable enterprises.

Oluwasuyi said some beneficiaries had already registered their businesses and were recording progress, while others were at the early stages of establishing their enterprises.

He added that TAFTA had been supporting beneficiaries with free business registration, mentorship and information on grant opportunities.

The Ogun State Commissioner for Industry, Trade and Investment, Adebola Sofela, represented by Ms Oluwayemisi Folarin, the Director of Investment, said the state government recognised the contribution of women entrepreneurs to economic growth, job creation and community development.

Sofela, who hailed TAFTA for the initiative, said programmes such as WEDP were relevant in helping entrepreneurs bridge the gap between having a business idea and building enterprises capable of surviving and creating jobs.

He urged the women to embrace technology, maintain proper business records, understand their customers, build strong brands and uphold quality and integrity to build successful careers in entrepreneurship.

The Commissioner for Culture and Tourism, Oluwasesan Fagbayi, also commended TAFTA for organising the programme, saying culture, creativity, tourism and entrepreneurship were interconnected drivers of development.

Fagbayi, who was represented by Deputy Director, Tourism Development and Promotion, Mr Abdurasak Abdusalam, said women played significant roles in the state’s creative industries, tourism value chain, cultural preservation and entrepreneurship.

The commissioner urged the participants to maximise the knowledge, networks and opportunities provided by the programme.