Nigeria is at the verge of breaking into an economically powerful province driven by the resourcefulness and determination of its teeming youth population.
Economic power should be in the hands of the people in the first instance- a key import of a free enterprise economy. That has been the experience of the emerging economies- India and China, South Africa.
The Small Medium Enterprise Scheme seems to have become the ‘magic bullet’ of economic transformation of developing nations. Nigeria needs to glean from the perspectives of these emerging economic powers.
Many of such bright spots are showing up in Nigeria’s business horizon. Our crew tracked down a dynamic youth entrepreneur-Mr. Chukwuma Kingsley the Managing director of KINOTECH a thriving Information Technology concern in Ogbunabali (PortHarcourts IT depot) which he built from relative obscurity to modest success. His story is motivating and has the hallmark of the typical Nigeria -“I can-do-it” spirit.
His story captures the aspirations of the Nigerian youths and provides insights for staging personal action in the Nigeria business arena. Savour his thoughts in this interview.
QUEST: What was your prime motivation for setting up for business?
KINOTECH- My major motivation was the desire to break free from the low income cycle of working for somebody. I could recall being moved over to a client site in Bonny Island after being owed several months salary. The routine of waiting for the monthly cycle before salary is paid is wasting and boring. I encountered lots of challenges. I was basically struggling to earn good and decent living. After my youth service in 1999 I was retained with a company called NEETS- a major IT support company back in the days. It was a good learning opportunity though.
Again I had a bitter experience during a recruitment process with NLNG. I recall I came tops in that interview but the slot was given away to the second person who never performed to my level for favouritism and political reasons. That shattered my morale to continue seeking for elusive lucrative jobs and bolstered my desire to set up for myself.
I recall when I almost got drown in the Bonny river in one of my trips. That hazardous experience was too scary for me. It was the boat riders that swam in to rescue me. The treatment I got in my former employment was not very pleasant. I asked my self- “For how long will I continue to suffer and become a man with this petty income I earn” I made up my mind to move away and do something. Even at that point of leaving employment I was getting ready to marry. From where would the money come? I braved the odds and I got married all the same.
I have no iota of regrets for daring to go on my own even against the tide of negative events and big challenges.
QUEST: As a startup what were your peculiar challenges?
KINOTECH: I came to Ogbunabali after I resigned my employment. I kick off operationally 2003/4 but had my firm registered in 2001. When I left my boss took offence my salary was withheld for 3 months so financially I was down. I had in all 180,000 which I saved up in course of my working days. When I started jobs was coming in piecemeal- 2000/3000 daily. I only had a table and a bench- a space given to me by a friend. Little by little I was gradually building patronage and I began to grow.
QUEST: Did you ever get a major break?
KINOTECH: yes got a 400,000 supply job from Hyundai- a company that was a major client were I was working. I got the job and supplied 12 computer systems that was a major break for me back then as it were.
QUEST: Could you recall encountering any major inspirational person(s) in your life- who were they?
I hope to advice youths to be focused in life. To know what you want and get about it on time. I always admired my in-law Mr. Richard Chika a highly successful business man with very chains of products he manufactures. His personal success as an entrepreneur made me opt for a business life outside the norm of working for someone. He has lots of intellect, and applies it for innovation. He is my role model.
My family does not have the entrepreneurial trait but I developed it on my own. I had that dream to work for myself. If you work towards your goals in life. My brother in-laws life and business antecedents were a major boost to me. Youths need to look up to something to get something.
Quest: Would you say you succeeded?
KINOTECH: yes because starting with less than 200,000 Naira and you now have assets and pipeline or business prospects worth millions testifies of a modest if not a generous success. My wife was also very contributory since she added her wages from her job to augment what I had.
My assets include my staff human and infrastructure on ground. I have jobs and prospects still in the pipeline those are my assets too. I got into this present property which I inherited as a swamp. I had to recover the flooded areas and renovated the site to my taste and business requirement. I have up to 10 staff members in the engineering, marketing, and cyber café and training departments respectively. We have a well stocked sales office manned by trained sales persons at the various sales points.
Quest: Does your education background have anything to do with your present engagement as an enterprenuer?
KINOTECH: As an electrical engineering graduate from the University of Benin my education provided me the background to aspire to my goals. In every trade training is important. It helps you set up even with raw, innate technical talent. Even at that I worked very had to make things work. I worked even on Sundays to meet up choking schedules. You may not believe it-“do it yourself” is the best form of training as a technical. I was the one who wired this outfit and fitted out the electrical elements. The trainings I got and experience while growing up in my career helped me.
Quest: I hear people say that Nigeria is a difficult place to set up business how true is that in your case?
KNIOTECH: infact living in Port Harcourt is a big task. The cost of living is shocking and alarming! From housing to clothing and feeding name it. I just got a 7.8KVA generator to provide electricity to my business. Anyway I made up my mind from the word go to take of my energy needs. Generator is a requirement to owning a business. Government should help set up skill and vocational centers to encourage youths roaming the streets. Give them a foundation to help build up their appetite and love for work.
Quest: As an entrepreneur did the Bank or any financial institution offer any kind of financial leverage to your business?
KINOTECH: I don’t like Banks. Their terms and conditions for credits are tedious. I grew up with focused money habits. It’s a family training I got while growing up. So saving up was never hard for me. Even at this stage of my business I don’t go to the bank.
Quest: You must have strategic business focus. Could you enlighten us?
KINOTECH: Our business revolves around IT Technology and education. We train prospects on information technology applications and hardware repairs. We repair computers, printers, UPS, laptops and build structured cabling infrastructure for organizations and businesses. Over time we have acquired vendor based certifications like CCNA, MCP-Server and we offer trainings on such platforms.
Quest: Do you Nigeria holds out hope?
KINOTECH: yes a lot of hope.