How is Omojuwa creating magic out of thin air for small businesses

Japheth Omojuwa has gradually made himself into a household name through his ‘social media crusade for change”.

He’s the right amount of annoying and he sure is funny. Just take a look at his last tweet in reference to Ndani TV’s Skinny Girl in Transit

These qualities only make him more endearing on Twitter where he constantly puts out his thoughts and theories. It also helps people connect with him on a level that makes his push for change easily acceptable.

While the FG is trying hard to figure out the best way to alleviate the difficulties and economic challenges facing the teeming population of enterprising youth in the country through several hit or miss schemes, Omojuwa decided to launch a Small Business Support Fund where he’d provide support for small business owners who need between NGN 50,000 to NGN 120, 000 to either start up their businesses or keep an already running business afloat.

This was not just a New Year’s gift, it was a much-needed intervention for many, especially after the 2016 we had all just experienced.

A phrase that got thrown around a lot last year was “Ease of Doing Business”. By May 2016, the World Bank had declared in its ‘Doing Business Report’ that it was much more difficult to do business in Nigeria in 2016 than it was in 2015. And as at May, the Nigerian currency was not even N495 to the greenback yet. Nigeria ranked 169th out of the 189 countries reviewed.

One may have thought of how measly the grant Omojuwa offered was but we broke it down and realised that the way things are in the country, NGN 50, 000 can sufficiently help a struggling business.

It’s 2017 and everything is promoted online. If a beneficiary that is struggling to keep her business afloat takes NGN 20, 000 out of the NGN 50, 000 to set up a functional e-commerce website; then sets aside some NGN 10, 000 to periodically run admin-operated boosts for said business on social media, that will leave business owner with NGN 30, 000 to use to fund one project and in 2017, if the product is good, all it takes to because a sensation can be one well-executed project.

But that is not the half of the magic Omojuwa created with his #SBS2017. No sooner than he announced it did other well-meaning individuals start to throw in bids to grow the initial NGN 500, 000 fund. Even non-Nigerians:

And then Dr. Bukola Saraki who was simply a champion for the most part of the week too chipped in:

By the 4th of January, his NGN 500, 000 fund had grown bigger. The reward for winners had become “NGN 2.7 million in cash. Website development services, media and professional support as well as business development training from volunteers.

Winners were announced on Wednesday and he not only tried to ensure that the selected winners were indeed passionate about their businesses, he also infused some global standard practice in the selection process by ensuring that of the 35 winners selected, over 70 per cent are owned by women.

So between today and the 13th of January when Omojuwa will be disbursing the funds to the winners, 35 more businesses will get the kick they deserve. And it’s not just money or the other benefits #SBS2017 provides. It is just knowing that someone who may or may not know you believes in your vision enough to invest time and resources.

That’s all the unmerited favour anyone needs to start business year on a magical note.

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