- Surviving High Unemployment Rate in 2019
The year 2018 is coming to an end and there is nothing anyone can do about it, however, we can take a moment to reflect on series of events that defines us throughout the year and make necessary adjustments going into the new year.
As a nation, Nigeria is not going to reduce her 23.1 per cent unemployment rate in a year or two. Does that mean the unemployed have to put their lives on hold or continue to manage that low paying job?
The National Bureau of Statistics put the total number of underemployed people at 18.2 million in the third quarter of 2018, up from 18 million a year ago. Meaning, waiting for that desired job might take forever and if there is any opening at all be ready to compete with 39.1 million (total number of unemployed and underemployed) people looking to change their situation.
The question is why spending 5 to 8 years looking and praying for that desired job when you could have learnt a skill or two and start building that desired company? Nigeria’s current situation has no respect for graduates. According to NBS, 8.8 million of the 20.9 million unemployed Nigerians were first-time job seekers while the larger part of the remaining number were those that lost their jobs due to harsh economic condition. Again, zero job security after years of waiting and praying.
Start-ups is not just a permanent solution to never-ending job problems but also a national responsibility to reduce the high unemployment rate and enhance economic productivity as stated by the Vice President, Pro. Yemi Osinbajo, during the national VP debate.
Strategies to Survive High Unemployment Rate in 2019
Pick up a New Skill
It doesn’t matter how broke, busy or limited you are, learn a new skill in 2019. Join one of the numerous free online classes like World Quant University where students are taught data analysis for absolutely free and awarded a diploma certificate after 8 weeks. With the skill, you can become a data analyst and work as a freelancer for companies on Fiverr, Upwork and numbers of other websites. Also, you can start consulting for local companies and provide unique insights from their huge data.
A lot of people are stuck in their current situation, not because of limited opportunities but their inability to identify one amid life’s chaos. Often than not, we think we need millions to get started in life, whereas all we need to confront life’s challenges are what today armed us with and genuine efforts.
A lot of people are stuck in their current situation, not because of limited opportunities but their inability to identify one amid life’s chaos.
It doesn’t matter what skill you are planning to acquire, just ensure its a relevant skill with demand, online or offline.
Network With Like Minds
Starting a new business or learning a new skill with limited resources can be challenging but having the right people around you can help ease things and improve your chances. Startups generally struggle with sales at early stage so having people that trust you can help drive and sustain sales at the beginning.
The importance of networking can not be emphasised enough, especially in an economy like Nigeria. Talk to people that share the same aspiration like yourself and those that have done what you are trying to achieve, however, note that having a valuable network means you have to bring value to the table, its usually ‘trade by barter’.
Attend startups events, join professional social media group and write knowledgeably about your industry to establish your expertise. People like Richard Branson has proven that blogging can really boost sales and enhance brand penetration.
Use Social Media to Market Yourself
The advent of social media has changed the way managers approach marketing, in fact, most startups sell more online using their profile than offline where they lack a similar presence. The idea is to create familiarity and establish trust by speaking more about what you do and how businesses, people and friends can benefit from it.
According to Erik Qualman, we don’t have a choice on whether we DO social media, the question is HOW WELL WE DO IT.
Be professional, consistent and concise in every post.
Gaining attention on social media can translate to a job and boost revenue if the right strategy is adopted. It is good to note that you don’t need to have a tangible product, you can sell information and offer a service depending on your field.
Compliment of the season.
PayPal Acquires Happy Returns Logistics Business
PayPal announced that it’s acquiring Happy Returns, a returns solution provider that offers online shoppers access to easier ways to send back unwanted merchandise to retailers without having to box it up and ship it themselves.
The company today offers a network of over 2,600 drop-off returns locations in the U.S., including those in over 1,200 metros and in every U.S. state.
It also has relationships with hundreds of brands that have been using its returns software and reverse logistics services. The company says it will continue to offer its returns experience to online retailers and shoppers as a part of PayPal.
Founded in 2015, Santa Monica-based Happy Returns’ value proposition was to take some of the overhead and cost out of the returns process for online retailers. Because online shoppers can’t inspect items they buy directly, online retail tends to see higher return rates, especially in apparel. Happy Returns found that online items are 3 to 4 times as likely to be returned than those purchased in-store, for example.
Meanwhile, today’s retailers have to compete with giants like Amazon and Walmart, both of which enable returns more easily for their customers by way of their large brick-and-mortar footprints — Amazon with Whole Foods other locations, and Walmart with its own stores. In fact, the foot traffic that offering an Amazon returns desk or locker system in-store has led retailers like Kohl’s and Stein Mart to embrace the enemy by catering to shoppers with Amazon returns in their own stores.
Today, the Happy Returns solution offers a combination of software, services and logistics that allows retailers to manage their returns through their own retail stores, by the carrier, as well as through Happy Returns’ “Return Bar” locations. These are found in physical retail stores like Paper Source, Sur La Table, Cost Plus World Market, and others. The service has been used by several digitally native brands, including Everlane, Rothy’s, and Parachute Home, among others.
Happy Returns has also been closely working with PayPal throughout its history, it notes. And notably, PayPal made a strategic investment in the business in 2019, as part of an $11 million financing round.
Following the deal’s close, Happy Returns will continue to work with retailers and shoppers both on and off PayPal’s platform, it says. The company’s co-founders, David Sobie and Mark Geller, and its full 120+ team will join PayPal and will report to Frank Keller, VP Consumer In-Store and Digital Commerce at PayPal.
PayPal is not disclosing the deal terms. To date, Happy Returns had raised $25 million in funding.
“This is an incredibly exciting milestone for our company, and it would not have been possible without the hard work and dedication of our entire team,” an announcement on Happy Returns’ website reads. “We are so proud of what our team has accomplished and are grateful for the tenacity, creativity and empathy Happy Returns employees bring to work each day. We are confident that the best is yet to come, and are looking forward to our next chapter as part of the PayPal organization.”
MoneyGram and Coinme Partner to Expand Access to Bitcoin
MoneyGram International, a global leader in cross-border P2P payments and money transfers, and Coinme Inc., the largest licensed cryptocurrency cash exchange in the U.S., announced the launch of a new partnership to enable the cash funding and payout of digital currency purchases and sales.
The partnership, which utilizes MoneyGram’s modern, mobile and API-driven payments platform and Coinme’s proprietary cryptocurrency exchange and custody technology, will bring bitcoin to thousands of new point-of-sale locations in the U.S., with plans to expand to select international markets in the second half of 2021.
“This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency,” said Alex Holmes, MoneyGram Chairman and CEO. “Our unique, global network is an incredibly valuable asset, and we’re excited to open our platform to Coinme as we increasingly look to capture new growth by monetizing our network to new use-cases.”
Global cash on and off-ramps ensure access to bitcoin
The MoneyGram and Coinme integration will provide a fast and easy way for customers to purchase bitcoin with cash and withdraw bitcoin holdings in cash. It is specially designed for customers who may be interested in utilizing bitcoin for the first time. With less than 20,000 cryptocurrency kiosks in the world today, the MoneyGram and Coinme partnership will further expand access to bitcoin and potentially other digital currencies by creating thousands of new point-of-sale locations to buy and sell cryptocurrency.
“MoneyGram has spent more than 80 years building one of the world’s largest P2P payment networks,” said Neil Bergquist, Coinme CEO. “By integrating its global infrastructure with our licensed crypto exchange technology, we can enable the purchase and sale of cryptocurrencies across its system using cash. This is a major milestone for the bitcoin and cryptocurrency communities, and for the millions of people who will benefit from a trusted, easy and affordable onramp to digital currency.”
The service will be available at select MoneyGram locations starting in the U.S. in the coming weeks. Additional countries and cryptocurrencies will be made available shortly thereafter.
International Breweries To Train 500 Young Entrepreneurs Through Kickstart Initiative
As part of its commitment to bringing people together for a better world and its objective of delivering impactful, developmental and sustainable projects, International Breweries Plc through its social investment arm, International Breweries Foundation has launched the 6th edition of its Kickstart entrepreneurship programme recently.
The initiative is targeted at enterprise growth and development for young entrepreneurs between the ages of 18 and 35.
During a media briefing to update the public on the process of this year’s edition, Managing Director, International Breweries Plc, Hugo Rocha expressed delight that the Kickstart Initiative had evolved from the regional programme it used to be, to an inclusive national programme that reaches the six geopolitical zones and 36 states of Nigeria.
“Over the years, we have held the conviction that the energy, zeal, and brilliance of the youths of Nigeria who constitute about 70 percent of the total population should be tapped and channelled to productive use. This is the logic behind Kickstart – to promote a culture of entrepreneurship among young people through training, provision of capital and mentorship,” Rocha said.
Rocha concluded his remarks on a high note, stating that, “as International Breweries celebrates its 50th Anniversary this year, I am pleased that the results of a 3-year impact assessment study that we commissioned on Kickstart came out positive and gives us the confidence to continue to support young people to achieve their dream of entrepreneurship. We remain steadfast in our commitment towards the economic development of Nigeria”
Also speaking at the press conference, Chairman, Advisory Board, International Breweries Foundation, Peter Bamkole explained that International Breweries Plc and its foundation is dedicated to continuing to contribute its quota towards tackling the twin challenges of unemployment and poverty while promoting Decent Work and Economic Growth in line with Goad 8 of the United Nations Sustainable Development Goal (UNSDGs).
“By creating Kickstart, International Breweries Foundation set out to be the nursery of innovation in a business where budding enterprise managers are groomed—held by the hand and taken through the rigour of entrepreneurial work. We aim to produce well-rounded entrepreneurs who understand and are prepared to put in the work it takes to do business successfully in a unique climate like ours.” Bamkole said.
Over the past five years, the Kickstart initiative has provided training, mentoring, and seed capital of N325,136 million (in total) for 274 grantees; 708 direct beneficiaries and 2,832 indirect beneficiaries across a wide range of business sectors; with the result of the creation of about 571 jobs and 1,392 new jobs projected across the six geopolitical zones of Nigeria.
Speaking on the mechanics of the award, Legal and Corporate Affairs Director, International Breweries Plc, Temitope Oguntokun revealed that the award is in three phases: the application phase, the training phase and the pitch fest phase which is the final selection of grantees by judges.
She explained that the Kickstart Initiative will be incorporating an expansive training module that will train 500 young entrepreneurs online, with a number of them going into the bootcamp. This year’s edition also features a streamlined search for entrepreneurs into Agriculture, Modular Retailing, Circular Packaging (Recycling), Technology, and Renewable Energy sectors.
“After a transparent selection process on the Enterprise Development Centre (EDC) platform via the link, https://reg.smetoolkit.ng/program-apply/kickstart-nigeria-2021, which will open on the 20th of May, successful applicants will be equipped with critical skills and training on entrepreneurship by experienced entrepreneurs and corporate professionals during a 2-day boot camp. They will partake at the pitch fest where a panel of judges will appraise their proposals before final selection. Winners of the pitch fest will then be awarded grants at the awards ceremony in Lagos,” Oguntokun noted.
The press launch which held last week in Lagos had in attendance dignitaries such as the Director for Employment, Lagos State Ministry of Wealth Creation and Employment, Mrs Iyabo Seriki-Bello, Director of Partnerships and Coordination for Small and Medium Enterprises Development Agency of Nigeria; Dr Friday Okpara; Chairman, Advisory Board, International Breweries Foundation, Mr Peter Bamkole; members of the International Breweries team, past Kickstart Alumni, mentors and a host of others joining online.
Following its trajectory of success, impact over the years, and its extensive yet immersive plans for the 6th edition, Kickstart, under the auspices of International Breweries and its foundation is geared towards transforming Nigeria into an economic powerhouse through the impact of entrepreneurship.
News4 weeks ago
COVID-19: Nirsal Microfinance Bank (NMFB) Loan – Covid19.nmfb.com.ng
Billionaire Watch1 week ago
Ethereum Co-Founder Becomes The Youngest Crypto Billionaire As ETH Hits $3K
News4 weeks ago
Covid19.nmfb.com.ng: How to Check Nirsal COVID-19 Loan Status
Crude Oil4 weeks ago
Oil Rises on Drawdown in U.S. Oil Stocks, OPEC Demand Outlook
Cryptocurrency3 weeks ago
Electronics Retailer Newegg now Accepts Dogecoin As Payment
News2 weeks ago
FG Declares Monday, May 3rd Public Holiday To Celebrate Workers Day
Appointments1 week ago
Buhari Suspends Hadiza Bala Usman as MD of NPA, Appoints Koko
Brands2 weeks ago
Netflix Partners Ikorodu Bois on Oscars Film Brand Campaign