The Terra Academy for the Arts (TAFTA) has urged the Federal and state governments to tackle insecurity and introduce tax rebates and other incentives for young entrepreneurs. This call was made by TAFTA's Academy Lead, Joseph Umoibom, at the second edition of the Ogun Women Entrepreneurship Development Programme in Abeokuta. The programme was organised by TAFTA in conjunction with the Mastercard Foundation.
Umoibom identified insecurity as a major challenge to entrepreneurship, particularly in the creative industry. He emphasized that businesses often require people to move around and operate beyond conventional working hours, making safety and security crucial. The government, he said, must create an enabling environment where entrepreneurs can operate safely and freely.
Umoibom also suggested that the government should consider providing tax rebates and incentives for young people starting businesses. He noted that new businesses often struggle with taxes and that incentives would help them find their footing. Umoibom stressed that safety is a priority for any government, allowing people to move freely at any hour of the day or night.
In addition to government support, Umoibom urged young entrepreneurs to prioritize integrity and be problem solvers to build successful careers in entrepreneurship. He emphasized that people should be able to trust them to want to do business with them. Umoibom also advised entrepreneurs to look for ways to solve problems, as people will pay to have their problems solved.
The Programme Manager for Ogun State, TAFTA, Oluwafemi Oluwasuyi, revealed that the academy, in partnership with the Mastercard Foundation, has trained over 67,000 young Nigerians in Lagos, Ogun, and Kano states over the past four years. In Ogun State alone, more than 25,000 young people have been trained. The programme aims to equip young women with entrepreneurial knowledge, mentorship, and business support.
The Ogun State Commissioner for Industry, Trade and Investment, Adebola Sofela, recognized the contribution of women entrepreneurs to economic growth, job creation, and community development. She hailed TAFTA for the initiative and urged the women to embrace technology, maintain proper business records, understand their customers, build strong brands, and uphold quality and integrity.
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. Some beneficiaries have already registered their businesses and are recording progress, while others are at the early stages of establishing their enterprises. TAFTA has been supporting beneficiaries with free business registration, mentorship, and information on grant opportunities.
Key points
- TAFTA urges government to provide tax rebates and improve security for young entrepreneurs.
- The academy has trained over 67,000 young Nigerians in Lagos, Ogun, and Kano states over the past four years.
- The programme aims to equip young women with entrepreneurial knowledge, mentorship, and business support.
