Graduates are complaining on a daily basis about lack of jobs and it would likely get worse as the population rises and graduates keeps pouring into the already saturated job market. So what if about 5000 graduates team up and contribute about N70,000 each to setup a joint venture for themselves? They would raise a total capital of N350 million which I believe is huge enough to start a big business and grow it bigger. The government can still add additional N20,000 per head increasing the capital base to N450 million. Instead of graduates hoping on inexistent jobs or opening small small fish farms and kiosks here and there wouldn't it be better they contribute together and set up something bigger? Can this arrangement work?

Good idea

Did you say 5000 human beings #together #business


Hmmmm...

How possible is that

you taught 5000 is 1000 right? human beings for that matter even with 12 disciples following jesus there was one judas,How do u think it gonna work No way my friend'


Even 300 people 100k each for #30m is a whole lot of problem.

debris:
you taught 5000 is 1000 right? human beings for that matter even with 12 disciples following jesus there was one judas,How do u think it gonna work No way my friend'
Even 300 people 100k each for #30m is a whole lot of problem.

nestaAK:
Did you say 5000 human beings #together #business
Hmmmm...
How possible is that

For me I think it would work if they coordinate themselves very well. Are human beings not the ones who run those big companies with shareholders and many employees?

As graduates who studied a wide range of disciplines they are automatically their own employees. No need to employ any persons

It won't work period. 5000 heads to owned, managed and financed one business entity will be a total distastrous.

Individuals having small fish pot farms and kiosk is no barrier. Inasmuch they are properly managed, it will become big business.

Babzrockman:
It won't work period. 5000 heads to owned, managed and financed one business entity will be a total distastrous.

Individuals having small fish pot farms and kiosk is no barrier. Inasmuch they are properly managed, it will become big business.

Can you explain why it wouldn't work let's take it from there. I know it has to do with management and decision making challenges. But there could a way to sort things out. So why do you think it won't work?

Ontarget:

Can you explain why it wouldn't work let's take it from there. I know it has to do with management and decision making challenges. But there could a way to sort things out. So why do you think it won't work?

It can't work. There will be too much disagreements and conflicts. A situation whereby many want to lead at the same time, it will lead to a dissolution of the company into fractions. Trust me, it won't work. 500 sef na problem

it can even result some people killing their selves to take over the companies,it can work atleast with 20 people comittted and trust theirselves with 2m starting a corporation biz with the help of govt and some international body they can help, read about how dangote started though with many shareholders but not that 5000 abeg.

Wat of salari and wages, or r de not going to eat?

Emmaesty:
It can't work. There will be too much disagreements and conflicts. A situation whereby many want to lead at the same time, it will lead to a dissolution of the company into fractions. Trust me, it won't work. 500 sef na problem

Terms and conditions will have to be outlined first before anything starts. It is left for anyone to accept or decline before becoming a participant. For those who accepts the terms it would help eliminate any disagreements since they were already aware of the mode of operation before becoming part of the arrangement. There would be disagreements only when the terms and conditions were not properly laid out first.

Thank you! I would say u only viewed the immediate benefits of the joint business without trying to envisage the possible future negative effects.

Above all, we have to know the sector the business will evolved. Is it production/manufacturing, Engineering firms, telecommunication sectors etc?

Because the contributors of the fund graduated with different disciplines and each unit within the company will definately be occupied according to individual disciplines. At the beginning the management of the company will be so exciting and encouraging. But as soon as the company start to generate income, there comes the problems.

The channel through which the money is coming through will definately have upper hands and on the long run, others will put eyes to the unit and therefore, will not trust the said unit as they will believe there is illegitimate actions going on therein.

What will happen to the demise of one or two partnerships of the business? See bro human being are dynamic in nature considering the numbers u mentioned above, it is practically impossible. Some will even go spiritual to achieve their selfish interests. Although, it all depend on the nature of the business they want to engage into.

debris:
it can even result some people killing their selves to take over the companies,it can work atleast with 20 people comittted and trust theirselves with 2m starting a corporation biz with the help of govt and some international body they can help, read about how dangote started though with many shareholders but not that 5000 abeg.

You are viewing it from the angle of the average corrupt Nigerian. The bottom line is, if a good foundation is laid with rules properly laid out before accepting to be a participant these issues will never come up.

Babzrockman:
Thank you! I would say u only viewed the immediate benefits of the joint business without trying to envisage the possible future negative effects.

Above all, we have to know the sector the business will evolved. Is it production/manufacturing, Engineering firms, telecommunication sectors etc?

Because the contributors of the fund graduated with different disciplines and each unit within the company will definately be occupied according to individual disciplines. At the beginning the management of the company will be so exciting and encouraging. But as soon as the company start to generate income, there comes the problems.

The channel through which the money is coming through will definately have upper hands and on the long run, others will put eyes to the unit and therefore, will not trust the said unit as they will believe there is illegitimate actions going on therein.

What will happen to the demise of one or two partnerships of the business? See bro human being are dynamic in nature considering the numbers u mentioned above, it is practically impossible. Some will even go spiritual to achieve their selfish interests. Although, it all depend on the nature of the business they want to engage into.

An exercise of this scale cannot be set up just like that without first of all addressing every potential problems and how they will be ironed out. Establishing a code of conduct is the first thing to be worked out before sending out invitations for interested people to join the exercise. After the rules have been established it is then left for invitees to decide whether the rules are suitable enough to join the exercise. This will ensure that only those who accept the terms will be part of the exercise. When a group of people are bound by an agreement there will be no issues as long as the rules are followed.

Babzrockman:
Thank you! I would say u only viewed the immediate benefits of the joint business without trying to envisage the possible future negative effects.

Above all, we have to know the sector the business will evolved. Is it production/manufacturing, Engineering firms, telecommunication sectors etc?

Because the contributors of the fund graduated with different disciplines and each unit within the company will definately be occupied according to individual disciplines. At the beginning the management of the company will be so exciting and encouraging. But as soon as the company start to generate income, there comes the problems.

The channel through which the money is coming through will definately have upper hands and on the long run, others will put eyes to the unit and therefore, will not trust the said unit as they will believe there is illegitimate actions going on therein.

What will happen to the demise of one or two partnerships of the business? See bro human being are dynamic in nature considering the numbers u mentioned above, it is practically impossible. Some will even go spiritual to achieve their selfish interests. Although, it all depend on the nature of the business they want to engage into.

I think you made a great point here.

I like this idea.

I think it can work but we have to sort out some basic underlying issues:

First, you have the issue of trust, who holds and disburses the money. I think you need to give it to someone every can trust or atleast hold responsible: you can use UNDP, BOI or CBN.

Next will be what to invest in. You can discuss and have a vote on 5 (or more) basic sectors or particular businesses. If everyone has a better idea, then get all the different ideas to make a presentation to buttress their point and vote on it. At this point those with potential leaders/CEO/Managers skills will be easily identified.

Finally, 5000 people can always contribute but they can't all participate at the initial stage you have to perform a selection process for those with business acumen and "street smart". The best (maybe) 1000 will start the various businesses after being trained on basic finance and management skills (we can meet any of the big 4-KPMG, Pwc etc to do it for free and consider it as their CSR).

As for salaries and food, no one should expect anything income for the first six years, ofcourse the guys running it will earn more. The rest can join the group with success and expansion, if any. It just important to have a structure and understanding backed with legal agreement with very very very harsh penalties

But I like this discussion and I think its time we all realize that jobs are hard to cone by these days, even if oil is $300 per barrel we would struggle. This is because most graduates have the wrong impression, thinking that the government provide jobs. Thats wrong, in developed countries, individual provide jobs, the government is supposed to provide an enabling environment (but do you want to wait for them?).

I think the op has a solid idea and I like his optimism, it will help in looking for solutions. The others guys noting the problem are also important, because they help us see the issues.

Please feel free to point out the holes in my points or improve on it.+

Lnxxxxx:
I like this idea.

I think it can work but we have to sort out some basic underlying issues:

First, you have the issue of trust, who holds and disburses the money. I think you need to give it to someone every can trust or atleast hold responsible: you can use UNDP, BOI or CBN.

Next will be what to invest in. You can discuss and have a vote on 5 (or more) basic sectors or particular businesses. If everyone has a better idea, then get all the different ideas to make a presentation to buttress their point and vote on it. At this point those with potential leaders/CEO/Managers skills will be easily identified.

Finally, 5000 people can always contribute but they can't all participate at the initial stage you have to perform a selection process for those with business acumen and "street smart". The best (maybe) 1000 will start the various businesses after being trained on basic finance and management skills (we can meet any of the big 4-KPMG, Pwc etc to do it for free and consider it as their CSR).

As for salaries and food, no one should expect anything income for the first six years, ofcourse the guys running it will earn more. The rest can join the group with success and expansion, if any. It just important to have a structure and understanding backed with legal agreement with very very very harsh penalties

But I like this discussion and I think its time we all realize that jobs are hard to cone by these days, even if oil is $300 per barrel we would struggle. This is because most graduates have the wrong impression, thinking that the government provide jobs. Thats wrong, in developed countries, individual provide jobs, the government is supposed to provide an enabling environment (but do you want to wait for them?).

I think the op has a solid idea and I like his optimism, it will help in looking for solutions. The others guys noting the problem are also important, because they help us see the issues.

Please feel free to point out the holes in my points or improve on it.+

Hmmm don't you think involving Cbn will be a problem in terms of tax , just asking though?

Meanwhile I think alot of research and knowledge acquired from dangote group of companies will be good enough to make a decision with the share holders he had that kept the company strong all these years,

Meanwhile @op I think more attention needs to be given on ur idea at the same time reasonable points cos while investing you to have think of something that will be an expansion and development in Nigeria and Africa.....

How about textile plants for production of wears/shoes/bags for export through this industry It will create lots of jobs for the youths and Nigeria will be a major tourist country for wears in Africa just as people go to Vietnam and China to buy clothes I guess we have lots of fashion stylist alot here in nigeria.

Ontarget:
Graduates are complaining on a daily basis about lack of jobs and it would likely get worse as the population rises and graduates keeps pouring into the already saturated job market. So what if about 5000 graduates team up and contribute about N70,000 each to setup a joint venture for themselves? They would raise a total capital of N350 million which I believe is huge enough to start a big business and grow it bigger. The government can still add additional N20,000 per head increasing the capital base to N450 million. Instead of graduates hoping on inexistent jobs or opening small small fish farms and kiosks here and there wouldn't it be better they contribute together and set up something bigger? Can this arrangement work?

It will work but the contributors will not be allowed to work for d company they will remain equal share holders. There will be 5000 shares with each individual owning a unit. They will campaign n elect a 2years tenor chairman from amongst themselves who will b required to contribute 5 times others ie 350k onces elected. Management will b constituted outside d owners who will employ d workers outside d owners based on needs n competence.

During AGM profit made for d yr will b shared among d 5000 owners.

Alternatively 5000 units of shares can be sold to d public at 70k per share and d highest share holder becomes d chairman n this proceeds d formation of d company.

lonelyhrt:







Hmmm don't you think involving Cbn will be a problem in terms of tax , just asking though?

Meanwhile I think alot of research and knowledge acquired from dangote group of company will be good enough to make a decision with the share holders he had that kept the company strong all these years,

Meanwhile @op I think more attention needs to be given on ur idea at the same time reasonable points cos while investing you to have think of something that will be an expansion and development in Nigeria and Africa.....

How about textile plants for production of wears/shoes/bags for export through this industry It will create lots of jobs for the youths and Nigeria will be a major tourist country for wears in Africa just as people go to Vietnam and China to buy clothes I guess we have lots of fashion stylist alot here in nigeria.

Government can not tax the capital, infact that's where the first deductions are obtained from to calculate your accessible tax.

You can not finance a huge project in Nigeria without explaining to the government how its going to also generate revenue for them, that's their share and their motivation to help you.

I think people have the wrong concept about tax. I see it this way: you only pay tax if you are making money and it's not all your profit just 30% for companies. Also, there are also ways you can structure your business to reduce tax liabilities eg when you expand and invest in a new technology, you can apply to a tax relief (there are conditions but it's how dangote end up paying little tax). Also certain businesses have tax relief and don't forget that any expenses that you undertake that the government should normally provide is tax deductible. Other ways around tax are funding your business with loans even if you have enough money (loan are treated as expense and thus tax deductible).

All am saying is that paying tax is part of doing business.

ogawisdom:


It will work but the contributors will not be allowed to work for d company they will remain equal share holders. There will be 5000 shares with each individual owning a unit. They will campaign n elect a 2years tenor chairman from amongst themselves who will b required to contribute 5 times others ie 350k onces elected. Management will b constituted outside d owners who will employ d workers outside d owners based on needs n competence.

During AGM profit made for d yr will b shared among d 5000 owners.

Alternatively 5000 units of shares can be sold to d public at 70k per share and d highest share holder becomes d chairman n this proceeds d formation of d company.

I'm tempted to go with your point as 5,000 is too bogus a number to run a startup. Functioning as shareholders should work or a situation where a large percentage of the 5,000 are serving as dormant contributors

lonelyhrt:







Hmmm don't you think involving Cbn will be a problem in terms of tax , just asking though?

Meanwhile I think alot of research and knowledge acquired from dangote group of company will be good enough to make a decision with the share holders he had that kept the company strong all these years,

Meanwhile @op I think more attention needs to be given on ur idea at the same time reasonable points cos while investing you to have think of something that will be an expansion and development in Nigeria and Africa.....

How about textile plants for production of wears/shoes/bags for export through this industry It will create lots of jobs for the youths and Nigeria will be a major tourist country for wears in Africa just as people go to Vietnam and China to buy clothes I guess we have lots of fashion stylist alot here in nigeria.

By the way, your textile idea is solid. It's painful that the textile plant in Kaduna is still deserted. All the governors since Makarfi promised to revive it.

We just dey look them

ogawisdom:


It will work but the contributors will not be allowed to work for d company they will remain equal share holders. There will be 5000 shares with each individual owning a unit. They will campaign n elect a 2years tenor chairman from amongst themselves who will b required to contribute 5 times others ie 350k onces elected. Management will b constituted outside d owners who will employ d workers outside d owners based on needs n competence.

During AGM profit made for d yr will b shared among d 5000 owners.

Alternatively 5000 units of shares can be sold to d public at 70k per share and d highest share holder becomes d chairman n this proceeds d formation of d company.

Why would the cost be increased by hiring workers when these young graduates can do the work themselves and also gain experience? They would be investors and workers at the same time.

Ontarget:

Why would the cost be increased by hiring workers when these young graduates can do the work themselves? They would be investors and workers at the same time.

Cost won't b increased BC they will still earn salaries like d outsiders dt will b employed. It will b difficult to engage 10 percent of them at first 5 yrs d4 to avoid internal rancor owners shld not b employed to work for company so dt D best outsiders can b employed. My tots

This is a nice idea and I'm really excited about it. If all modalities are sorted out, I'm ready to invest resources and expertise.

I have a suggestion though, instead of actually setting up a venture/company, why not invest the money in a variety of assets? Something like a hedge or mutual fund.

ethical:
This is a nice idea and I'm really excited about it. If all modalities are sorted out, I'm ready to invest resources and expertise.

I have a suggestion though, instead of actually setting up a venture/company, why not invest the money in a variety of assets? Something like a hedge or mutual fund.

I have been involved in something like this the original creators "Thief our Money and Run Away"

suyamasta:
I have been involved in something like this the original creators "Thief our Money and Run Away"

Sorry oh. But seriously this thing can work if there is a proper and secured operating system in place. We should be discussing about how to patch every loop holes and avoid every kind of potential challenges and not dismissing it outright.

ogawisdom:


Cost won't b increased BC they will still earn salaries like d outsiders dt will b employed. It will b difficult to engage 10 percent of them at first 5 yrs d4 to avoid internal rancor owners shld not b employed to work for company so dt D best outsiders can b employed. My tots

There is still no need hiring workers. If they have to hire workers then it defeats the purpose of the exercise for graduates to work and earn some wages and experience. Why pay out money to workers when the graduates/investors can do the work and earn that money they pay to those workers? The salaries the investors will earn will be lesser cos you will have to substract the hired workers pay from the profits. I don't really know if you understand my point.

I once thought about buying unicem cement factory in ebonyi state with Nysc allowance. There would have been job for all the batches. 1yr allowance of all the batches would have given me 21billion. We would have survived on the 5k from state govt. But people killed that dream.

Ontarget:

There is still no need hiring workers. If they have to hire workers then it defeats the purpose of the exercise for graduates to work and earn some wages and experience. Why pay out money to workers when the graduates/investors can do the work and earn that money they pay to those workers? The salaries the investors will earn will be lesser cos you will have to substract the hired workers pay from the profits. I don't really know if you understand my point.

Everyone of d contributors can't b employed by d company so what happens to d thousands dt will b left unemployed, dnt u think they will feel used n shortchanged by those dt will be employed. It will b even difficult to employ 500 at start up then 4500 will b left out. Even among d employed who becomes gateman, cleaner, secretary, driver, CEO, directors, manager, oga n boy since they r all equal as graduates. Remember these roles determine salary to b paid.

It can't work if d owners r to serve as employees, it will only work if owners remain equal shareholders n outsiders engaged as employees n management. My final take

agrovick:

I'm tempted to go with your point as 5,000 is too bogus a number to run a startup. Functioning as shareholders should work or a situation where a large percentage of the 5,000 are serving as dormant contributors

There is no difficulty for 5000 individuals to run a startup. They can be divided into units of 100 each. Each unit will come up with a plan and suggestion which will be pitched against each other. The best ideas and suggestions will be adopted by the managers. Everybody will not be managers. There will be those playing roles of engineers, marketers, researchers, health care etc.
I am just giving a sketch of how things can be organized.

ogawisdom:


Everyone of d contributors can't b employed by d company so what happens to d thousands dt will b left unemployed, dnt u think they will feel used n shortchanged by those dt will be employed. It will b even difficult to employ 500 at start up then 4500 will left out. Even among d employed who becomes gateman, cleaner, secretary, driver, CEO, directors, manager, oga n boy since they r all equal as graduates. Remember these roles determine salary to b paid.

It can't work if d owners r to serve as employees, it will only work if owners remain equal shareholders n outsiders engaged as employees n management. My final take

I think I like this one. How many graduate does dangote industries have in Nigeria alone.

ogawisdom:


Everyone of d contributors can't b employed by d company so what happens to d thousands dt will b left unemployed, dnt u think they will feel used n shortchanged by those dt will be employed. It will b even difficult to employ 500 at start up then 4500 will left out. Even among d employed who becomes gateman, cleaner, secretary, driver, CEO, directors, manager, oga n boy since they r all equal as graduates. Remember these roles determine salary to b paid.

It can't work if d owners r to serve as employees, it will only work if owners remain equal shareholders n outsiders engaged as employees n management. My final take

Well, taking a look at the huge capital involved it can fund a large business. A large business can accommodate a work force of 5000 people. As for those who will be cleaners and drivers maybe these ones can be employed from outside. Apart from those jobs the investing participants should do every other thing themselves.