Auldon urges entrepreneurs to take advantage of Lagos micro credit fund

Auldon Limited has called on entrepreneurs and artisans, especially those trained by the Lagos State government, to take advantage of the state’s micro credit fund so as to grow their business and likewise create employment for others.

Paul Orajiaka, CEO of Auldon Limited, who made this known while speaking at the second annual Lagos State Enterprise Day, stressed that for SMEs, which are the catalyst of any thriving economy, to grow, state government across the country must provide the enabling environment and infrastructure.

The Lagos State government had recently established a micro credit fund for artisans with the aim of alleviating poverty in the state. The fund is managed by the Lagos State Microfinance Institution (LASMI).

Also speaking at the occasion, the state deputy governor, Adejoke Orelope-Adefulire, said the fund, which would be accessible to artisans, was in fulfilment of the governor’s promise to support entrepreneurs and SMEs in the state.

She said: “It is common knowledge that even in most developed economies, the best way through which the self-employed can have access to loans remains an effective micro-credit financing scheme.”

Stressing the importance of a single-digit interest rate for start-ups, Orajiaka said this will ensure that businesses survive and outlive their promoters.

“At one point, I almost gave up because it was difficult building my business, especially without funding from banks. It was near impossible to continue, but my frustration and anger at the banking system coupled with lack of support, only made me further persevere, be more passionate and determined to ensure that the business grew. Today, Auldon Toys makes over a billion in turnover, because I refused to give up.

“These virtues I adopted failed to disappoint instead gave me the needed impetus and momentum sufficient to get my company going and keep going. No doubt it is almost an uphill task, succeeding as an entrepreneur in this clime, so it would be unfair to blame some Nigerian entrepreneurs who fail to surmount the numerous challenges which stifle their growth,” he said.

It is not impossible for entrepreneurs to attain success in Nigeria despite the challenges – if they can recapture the passion and emotions of that moment when they began, then it is easy for them to surmount all the hurdles leading to success, he said.

People these days lack the needed passion, hard-work, perseverance, and determination to succeed, and it is not far from the fact that in recent times our cultural values are fast eroding. Parents these days shy away from teaching their children about their culture, moral values and other key ingredients that can aid their growth, instead they allow them imbibe foreign cultures which gives them little or nothing, but instead robs them off their identity and very existence as Nigerians.

It is important to note that this foreign culture they learn and pick from their schools is not the best. We need to re-orientate our wards to imbibe hard work and patience.

“For me that was a vacuum, I needed to fill urgently, which has since led us at Auldon to expand our product Portfolio with the introduction of the Unity Girl Dolls, a collection of 14 inch child developmental dolls, that represent Nigeria’s three major tribes-Hausa, Ibo, and Yoruba-delivering a positive social message to infants across the country and by extension the world at large, enlightening them about the Nigerian culture and values that does well to mould them into positive children for the future”.

According to him, “the dolls, which has since recorded massive acceptance across the country, are dressed in local attires likewise posses the following characters, Amaka (Ibo), Ronke (Yoruba), and Aisha (Hausa).”

“The three dolls also contains booklets that tell you about the rich culture, robust background, language and all other important detail. Our target are children between the ages of 1-10, which we all know is their key formative period,” he said.