By PAMELA EBOH, Awka

Business experts and investors in Anambra State have decried the significant decline in their businesses following escalating insecurity in the state.

They made the lamentation over the weekend during a Business Summit organised by BON Hotel SmithCity 2024.

The summit with theme, ?Business Ethics & Sustainability in the 21st Century,? was geared towards supporting the investment agenda and drive of the state government and also foster developmental growth, boost the economy of the state and country at large.

In his presentation, the Chief Executives Officer of Catchline Group, Mr. Jude Obiekwe, CEO of Catchline Group harped on the crucial role of entrepreneurship in building a thriving African economy.

While citing problems in Nigeria as opportunities for vision and growth, Obiekwe listed leadership as one of the biggest challenges facing Nigeria?s business environment.

He argued that entrepreneurship must precede business, as business is essentially the commercialisation of created value. To maintain focus on this value, Obiekwe said entrepreneurs must prioritise structure for growth.

To overcome challenges in business, Obiekwe advocated for creating partnership webs. He noted that Nigerians are individually strong but corporately weak, emphasising the need for collective effort.

?In Nigeria, we are individually driven and not corporately driven. We are more rich when we work together than when we work individually.?

On his part, the CEO of Unique Rentals, Uchenna Ajator who spoke on ?Business and Legitimacy,? emphasised that the core purpose of entrepreneurship extends beyond profit maximisation, but rather, providing meaningful solutions to people?s needs.

He advised the Summit participants to establish a professional corporate identity by registering their businesses, obtaining a corporate address, and fulfilling other essential formalities.

The Unique Rentals boss further underscored that legitimacy encompasses not only legal compliance but also adhering to high moral and ethical standards.

He added: "The significance of innovation and customer-centricity is encouraging entrepreneurs to embrace feedback from their clients to drive business growth and improvement.?

Addressing the participants, the Chairman of the Real Estate Developers Association, Mr. Martins Nwafor, highlighted the pivotal role of effectively utilising the key resources for wealth creation.

He harped on the significance of establishing meaningful connections, noting that success rarely occurs in isolation.

Martins also highlighted the importance of cultivating social capital through strategic relationships, underscoring the critical role human relations play in sustaining business growth and longevity.

Also, foremost entrepreneur and developer of Dubai Estate, Benjamin Ezemma, shared invaluable insights with aspiring business leaders, even as he emphasised the importance of resilience in entrepreneurship.

He maintained that overcoming challenges is a crucial aspect of success, saying, ?I encourage entrepreneurs to cultivate innovative thinking, foster internal growth, and adopt a scalable approach to business development. My philosophy is, ?think big, start small, and expand.?

Another Developer, Hon. Amb. Gabriel Chukwunwendu, offered advice on the importance of balance in business.

He cautioned against the pitfalls of greed and advocating for contentment as a key factor in long-term sustainability.

Other experts at the event regretted that Customers now prefer to invest their resources in other places like Asaba in Delta State due to the rising kidnappings, cult clashes and general insecurity in the land.

?Our businesses are being affected. The Real Estate business has dropped in Anambra and Asaba has taken over. Asaba is gradually turning into the Lagos of the South-East.

?Insecurity has gotten to the extent that when someone calls for a potential business, you begin to think twice before answering the call. We can?t operate effectively in an environment where lives and properties are constantly at risk.

?By natural default, we are negative and even the environment prepares us to be negative. But in Anambra State, we are minus negative because of the present insecurity in the land.

?Where we are today, we struggle to sell one or two properties unlike before. That is why the majority are shifting from the environment. Government should help us to secure the state so that businesses could thrive to develop our state?, they stated.

The State Police Public Relations Officer (PPRO), SP Tochukwu Ikenga, however encouraged the participants and the public to establish a sound working relationship with security agencies in the state for the sake of security updates and emergencies.

Ikenga who was represented by the State Commissioner of Police, CP Nnaghe Obono, urged participants to eschew trouble in their business dealings, noting that there would be nothing like insecurity if all imbibed existing business and professional ethics.

Earlier in his speech, the General Manager of BON, Anthony Zuokemefa explained that the event was to support the government of Anambra State in her cry to attract investments, encourage investors both intending and the already established as well as create a symbiotic business relationship and healthy business network in the state.

Update news