Innovative Nigerian youths are no longer placing all the blame on government’s table. They are rather taking the bulls by the horns, exploiting opportunities in the economy amid challenges. They are taking up entrepreneurship and bulldozing into places that angels fear to tread.
One of such entrepreneurs is Latifat Adenike Muhammed, a native of Kwara State. A graduate of Accounting with master’s degree in view, Latifat is the chief executive officer (CEO) of Teephafabrics Asooke. She sells different fabrics and embellishes head gears, known as ‘Gele’ in the South-West part of Nigeria.
Though she started her business in 2018, she had attended different trainings and made lots of research that equipped her with necessary experience and knowledge before going into business.
Her start-up capital was N 70,000, which she got from personal savings and as loan. She was inspired to start the business owing to her love for fashion and partly because she was unable to get a job at that time. She had the opportunity to attend trainings on head gear embellishment, which interested her, and after the trainings, she started the business and later added fabrics to have a wider scope.
She operates in Lagos and gets her materials from major markets in the state, and even outside of it, especially for the head gear. With the aid of social media, Latifat is able to advertise her products and get more customers. This has helped her business to grow as it now has a good clientele base with good customer relationship.
When she started, she did not have important tools like stoning machine, but she has been able to purchase one along with other necessary equipment. “It hasn’t been easy so far, but with persistence, consistency and prayer I can say I’ve been growing gradually,” she tells Start-Up Digest.
Although she is yet to have permanent employees, she has ad-hoc staff members who help her in logistics and delivery. She also tries to get affordable quality materials and promptly delivers to her customers. This, to her, is why they keep coming back while also recommending others.
Latifat is still hunting for more training to gain knowledge, expertise and certification that will help her business to grow further.
Speaking about her business expansion plan, she says, “I intend to employ people, incorporate fabrics importation and exportation, and build a fashion empire that will be all-encompassing. I wish to go from fabrics shopping to sewing, to designing, and I am sure I will achieve all these in due time.”
She adds that although it will require extra funds and resources, she hopes to achieve it through financial support from government or financial/entrepreneurship institutions.
In spite of the progressive business performance, she still encounters some challenges such as getting affordable quality materials, expensive/ dishonest logistics services, exorbitant data charges and ridiculous haggling, which at times could be discouraging.
Although she has managed to work her way around these, she still calls on the federal government and capable organisations to lend helping hands to micro, small and medium enterprises (MSMEs) through grants, low-interest loans, workshops, and trainings, among others, while putting up necessary infrastructure to aid mobility and reduce cost of production.
Latifat’s role models are her parents and business moguls that started small but managed to grow big. She tries to emulate them while working with her life values which include hard work, commitment and consistency, with high level of patience and tolerance.
On advice to other entrepreneurs, she says, “Remain hardworking, make a conscious effort to develop yourself regularly and always believe in yourself.”
Gbemi Faminu
