‘We are creating opportunities through Ibadan Business Hub festival’

Mrs Temitope Adelakun is the founder of Ibadan Business Hub. In this interview with Adewunmi Adedayo, she speaks on the idea behind the project, how businesses located in Ibadan can compare favourably with those located in Lagos, and the forthcoming Ibadan Business Festival. Excerpts:

 

What is the Ibadan Business Hub all about?

Ibadan Business Hub is an association of business owners within Oyo State with the ultimate goal of positively impacting the economy of the state through the growth of its members (businesses); as it has been revealed that about 48 per cent of economic growth of any society is highly dependent on small and medium scale businesses.

 

What challenges have you faced so far and how have you been able to overcome such challenges?

Different periods come with different challenges. There definitely have been a lot, and different strategies were used per time to overcome them. But more often than not  we weather our storms as a team, so joint effort is the major strength of the Hub.

 

Considering the fierce competition in today’s business world, how would you highlight your company’s competitive advantages? What makes you stand out?

Well, competition has always been a thing and it will remain till the end of time; and it can be viewed positively or negatively.

At Ibadan Business Hub, we always strive to see competition from the healthy perspective, a call to be better, to strive harder, to do even better, and never to remain stagnant. So, for us, competition drives us to grow even better.

We believe that the angle which we view competition from, make us stand out. The ocean is wide and even though the fishermen be plenty, fish abound.

 

How do you think businesses located in Ibadan can compare favourably with those located in Lagos?

On many counts, Lagos cannot be compared with Ibadan. Lagos is fast paced and has been the center of national economic growth for so long.

Ibadan is just beginning to hearken to the awakening call, and it will take a while to attain what Lagos has been able to do.

That being said, the cost of living, setting up a business or running a business in Ibadan is way cheaper than what Lagos offers. Therefore Ibadan provides a fair enough environment to start up a business especially if one is just testing waters or doesn’t have so much financial capacity as is required to compete favorably  in Lagos.

Coupled with the fact that there has been a huge influx of people of substance into the city of Ibadan in recent times, it gives a chance to relatively invest minimally and still access similar markets. One should also not forget the fact that the world in fact has become one global market, thanks to the Internet and more recently, social media. Therefore depending on the nature of business, one can exist anywhere and access whatever market of choice; which means for instance, (depending on the nature of business in question) one can invest minimally and still access the market pool in Lagos.

One may not have the same level of exposure and challenges (which actually aid growth) as can be found in Lagos, but all above, coupled with a decision to rise up to the challenge of standardization (which is a serious issue with many business in Ibadan), and rigidly deciding not to compromise on quality, will definitely get a business noticed from anywhere, even in Ibadan.

 

You will be organising an event on November 21, what is it all about and how would the business benefit from participating?

Ibadan Business festival is the biggest project of Ibadan Business Hub.

It is an event we host yearly to round off other quarterly events (mostly seminars and entrepreneurs hangout), which are relatively smaller.

Ibadan Business festival is primarily a tradefair but from a broader perspective, a gathering of entrepreneurs and business owners with the goals of driving sales, networking (valuable connects), learning, impacting, unwinding and lots more.

It is understood that all through the year, businesses have struggled and dilly-dallied about trying to hit goals and make good success. The fact that the festival happens close to the end of the year reflects an opportunity provided by Ibadan Business Hub to help businesses take a leap closer to their goals; and also to unwind, with the understanding that no matter how far they went with achieving their goals, there is room to be thankful.

Vendors will have a rare opportunity to showcase their products to people that matter in the society, make valuable connects, learn new things and stand a chance to win prizes.

There will also be a cooking competition that is open to the general public, also with chances of winning prizes, including internship with some of the best chefs in Ibadan.

Also, we have scheduled a cocktail/ mocktail crash course at the event, which is highly subsidized; there will also be prizes, including internship with one of the best in the industry.

 

If you had one piece of advice to someone just starting out, what would that be?

Passion will help you start the business quite alright, but persistence and consistency are the things that will keep you in the game and ultimately get you to the goal.

Whatever you do, or whatever happens along the journey, persevere and remain consistent.

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