18042019 - PRESIDENTIAL TUSSLE:I always beat you in every election, Buhari tells Atiku

Many people find the
entrepreneurial
journey to be a lonely and
stressful one, fraught with
highs and lows, elated wins,
and crushing losses. The
crux of anxiety is
uncertainty; entrepreneurs
fear the future and worry
about how they will cope.
The absence of a regular
pay check, market
fluctuations, and the
inevitable risk-taking
required to grow, only
compounds this
uncertainty.
As an entrepreneur, you
are your biggest asset and
How w to over
ercome entrepreneurial anxiety
ty
your mental health is every
bit as important as your
physical health. Anxiety is
one of the most common
mental disorders that we
can suffer from, so here are
five ways to manage your
entrepreneurial anxiety.
Self Compassion: As an
entrepreneur, failure is
inevitable. But being
compassionate to yourself
cushions you against
failures, allowing you to
bounce back and try again
because you learn that
failure is just part of being
human. It's treating
yourself as you would a
good friend, with
understanding, kindness,
and respect.
Taking breaks: It's time
to start working smarter,
not harder. Your brain is
not designed to work flat
out for 10 hours a day. You
need time-outs to process
information and perform at
your best. Schedule breaks
into your diary to make
sure they actually happen
and head out for a walk,
have a stretch, meditate,
make tea, daydream, read,
or phone a friend.
Meditation: Meditation
doesn't take time away from
your busy schedule; it gives
you time. Famous
entrepreneurs who
espouse the benefits of
meditation include Tim
Ferris, Oprah, and Russell
Simmons. Those with a
regular practice report
increased mental focus,
lowered stress and anxiety,
Vanguard, THURSDAY, APRIL 18, 2019—21
and higher levels of
creativity
Phone boundaries:
Mobile phone addiction is
on the rise. Each time you
check your emails, receive
a new tweet, or an
intriguing news story pops
up on your our phone,
you get a hit of dopamine.
You get addicted to your
phones. Being at the beck
and call of your mobile and
answering email 24/7 is
bad news for your mental
health because it keeps you
on high alert, never
allowing you to fully switch
off.
Procrastination:
Anxiety
and
procrastination are often
linked. When you feel
scared and joverwhelmed
it can be hard to take
action and get things done.
If you fear failure, you might
struggle even to get started.
Then the more you put
things off, the more
pressure you're under,
making it even harder to
focus and concentrate.
•Culled from LSETF Digest
Over 59m Nigerians work in MSMEs
sector
— SMEDAN
By Yinka Kolawole
The Micro, Small and
M e d i u m
Enterprises
(MSMEs) sector offers
more than 59 million
jobs in Nigeria, the Small
and Medium Enterprises
Development Agency
(SMEDAN) has said.
Deputy Director,
Enterprise Development
and Promotion,
SMEDAN, Ibrahim
Abdumalik, disclosed
this at a capacity building
workshop for young
business owners,
organised by SMEDAN in
Yenegoa, Bayelsa State.
According to him, there
are over 37 million
MSMEs in Nigeria
offering over 59 million
jobs. He noted,
regrettably, that the
global recession had
adversely affected so
many enterprises with
MSMEs as the worst
affected, adding
however that the
challenges posed by the
recession should serve
as a catalyst for
innovative enterprises.
Abdumalik who
represented the
Director-General, Diko
Radda, at the event, said
the training was
designed to curtail the
mortality of small
businesses in Nigeria.
He stated: "MSMEs are for
sure the most viable
instruments for
diversifying our
economy and tapping
into the rich but largely
dormant resource
deposits across the
length and breadth of
Nigeria.
"The stiff competition in
the global markets has
tended to further stifle
the operations and
growth of our MSMEs
that can rightly be
classified as 'endangered
species'. The fatalistic
state of the majority of
these enterprises is as a
result of either
environmental or
e n d o g e n o u s
constraints.
"This intervention is
essentially to reinforce
my
agency's
commitment towards
ensuring the easing of the
harsh operating
environment especially
for MSMEs."
Another Deputy Director
at SMEDAN, who was a
also resource person at
the training, Chibuzo
Osuoha, noted that the
programme was
simultaneously going on
in Ogun and Kaduna.
She said that the training
was packaged to address
the problems identified
by SMEDAN to be
responsible for the failure
of small businesses.
"We have taken time to
groom young businesses
and we noticed some
deficiencies and lapses,
so, we created a
curriculum that would
LCCI opens entrepreneurship mentoring programme
By Naomi Uzor
The Lagos Chamber of
Commerce and
Industry, LCCI, is today
launching its 2019
Entrepreneurship
Mentoring Programme,
aimed at helping to curb
the lingering high rate of
unemployment in
Nigeria.
Director General, LCCI,
Mr. Muda Yusuf, in a
statement disclosed that
this year's edition which
is the 7th in the series, will
also feature exhibitions
by beneficiaries of the
scheme.
He stated: "The scheme is
a notable Corporate
Social Responsibility
(CSR) initiative of the
Chamber, and its
objective is to create and
develop an army of young
entrepreneurs that will be
enhance their
management skills," she
stated.
According to Osuoha, the
participants were
selected and put through
a sensitisation
programme on how to
manage small businesses
profitably.
She said the 104
beneficiaries, who run
existing businesses were
divided into two groups
and would be assisted
with a grant for
operational space for one
year.
able to manage their
various businesses
efficiently. We are
preparing them to be the
future 'Fortune 50'
companies in Nigeria.
"One sure way of
investing in the future of
the economy is
mentoring the youth to
create and manage
businesses. It is a way of
launching them into the
Establishing accounting
system for small business
The series on standard financial management has been
slightly modified after some repeated publications.
We are introducing more elements that are reflected in
a standard requirement for loan applicants in financial
institutions.
Thus an extended portion of the series is starting today
with discussion on book-keeping meaning establishing
a standard accounting system for an MSME.
Earlier we had noted the overriding importance of
sound financial management for survival and thriving
of any business, more for small or emerging
businesses. We had also listed the key elements of the
sound financial management practices to include,
setting up or opening a business bank account; creating
and maintaining a budget, establishing an accounting
system and book keeping method and this would be
subdivided into two other practices, viz, account
review and establishing a credit control system. The
last content on this series focused on creating and
maintaining a business budget. In another series we
shall delve into a detailed discussion on budgets and
forecasting which gives medium to long term view of
the growth of the business.
Today we look at establishing an accounting system
for the business.
Accounting (or bookkeeping) is a process of recording
the financial transactions of a business. Keeping good
records for your business can assist you to apply for
finance, review your business activities, manage
effectively and comply with tax requirements.
For tax purposes you are legally required to keep
records related to your income, payments to
employees, payments for supplies and all inputs into
the business and other sundry business expenses.
Very important for the purpose of this topic is that
your business cannot have access to loan without an
accounting system.
There are two types of accounting methods; Cash and
Accrual. Next week we delve into more details on these.
business world, much
better equipped to ride
on the waves and
challenges in their quest
for success."
According to him,
developmental initiatives
such as entrepreneurship
d e v e l o p m e n t
programmes will be the
focus of the mentoring
scheme.
"The lingering high rate of
unemployment in a
consumer based
economy like ours can
only be solved with
programmes aimed at
investing in the future
business leaders. In a bid
to achieve this, LCCI is
unreservedly committed
to mentoring programme
geared towards
contributing
meaningfully to the
development and
empowerment of our
youth," Yusuf added.