A financial expert, Mrs. Lawal Olanrewaju, has advised business women to have a profiled bank statement in their chosen trades for financial development.
Mrs Olanrewaju who facilitated a financial literacy training for business owners adversely affected by the COVID-19 pandemic emphasized the need for them to focus their business account on their tradesmanship and not personal transactions.
The training was organised for beneficiaries of the Nigerian COVID-19 Action Recovery Economic Stimulus Programme (NG-CARES).
She said, “You need to put yourself on salary so you do not kill your business. You are part of a larger vision to rebuild and revitalise our nation. Your knowledge fosters the growth of the nation, hence, make sure your account details align.
“Irregularities affect businesses, so make sure you synchronise your account with the necessary information, even as you consider insurance for backup upon the growth of your businesses.”
Also, a Statistical expert, Mrs. Risikat Adeyanju spoke extensively on the need for the business women to build values with judicious use of stock-taking for business expansion processes.
One hundred and seventy (170) business owners in Lagos State have benefited from the NG-CARES Programme.
The programme carried out under the Ministry of Women Affairs Poverty Alleviations (WAPA) Delivery Platform 1:3 is targeted at alleviating the status of residents who were adversely affected by the pandemic.
The Permanent Secretary of WAPA, Mrs. Oluyemi Kalesanwo who spoke at a financial literacy training for participants, described the programme as the third of its series since 2022, aimed at providing support and assisting residents in rebuilding their lives and businesses with the proper skills and knowledge.
According to her, the move was part of social inclusion at restoring businesses for the purpose of revitalisation challenges brought about by the COVID-19 pandemic, which disrupted virtually all sectors of the economy.
The financial literacy knowledge, she explained was designed to equip participants with resources for informed decisions on economic advancement based on budgeting, savings, investment and debt management for valuable insights into economic growth.
While she reiterated the relevance of the training, Kalesanwo implored beneficiaries to be disciplined with the cash grants as verification agents will pay unscheduled visits to them to ensure the judicious use of the money for their identified project. Participants at the training were empowered with cash grants.
Recall that previous training under this programme had been held in the five divisions of Lagos State for 2,676 beneficiaries who had received cash grants between N60,000-N150,000 to boost their various ventures.