Experts task entrepreneurs on financial intelligence skills

Speaking at a Financial Business Intelligence (FBI) forum organised by the Team Diamond group, a financial expert and journalist, Daniel Akpata, said there are fields where smart entrepreneurs can make passive income such as real estate, intellectual property, paper (currency) investment, automated business and network marketing.

Akpata maintained that despite the current economic situation, some businesses are able to cope with the attendant challenges, saying: “These businesses have able to weather the storm not because they do things differently; but taken advantage of new businesses, applied innovations, and strict adherence to business plans and processes.”He also charged entrepreneurs to be aware of opportunities around them, and be timely in harnessing them for growth in their business environment.

Chief Executive Officer, Titians Empire Builders International, Jerry Onoukiabe, revealed that there are opportunities in real estate by becoming house owners with N38,000 in three months in any area of choice in Nigeria.He disclosed that anybody could qualify to be a house owner regardless of their background, tribe or income so long as he/she meets the terms and conditions of the housing investment scheme.

A wealth coach, Emeka Nwakwo, urged business operators to employ the services of mentors or financial managers if they can afford it to help boost their businesses, and use the social media to project their businesses.Additionally, he charged entrepreneurs to do things the right way and properly, and to attend business workshops regularly, read books to get more knowledge and information to manage their businesses.

He noted that entrepreneurs must be innovative, vigilant and creative.During the financial Intelligence test session, Mrs Ikana Akpata maintained that the test showed the true financial statues of all participants.She gave some tips on saving culture, planning and budget, evaluation of incomes and expenditures, account for children education and other steps to boost and revamp of their businesses and lifestyles.