Lagos – Mrs Precious Aremu, Chief Executive Officer (CEO), Palinio Cookies, Lagos, on Thursday urged entrepreneurs to divest their businesses to sustain them and make profit.
Aremu gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos.
She explained that divesting investments to other ventures was sacrosanct to facilitate them to make huge profit within a short time frame.
According to her, the need for entrepreneurs to divest their businesses to other multiple sources would lead to quick expansion of their businesses to newer frontiers.[pro_ad_display_adzone id=”70560″]
She added that the divestment to other forms of businesses should be in line or close proximity with what they are presently dealing with.
“For instance, if an entrepreneur is dealing with cakes, they could build on producing bread in the same factory.
“Producing similar commodity will reduce cost due to using most items in the process of producing edible goods,’’ she said.
She said that investing into other means of making money apart from their businesses would enable them to reduce some of the risk factors, especially in this era of economic recession.
“Since there is some level of recession, it only makes sense not to focus on one string of making money for other businesses to be able to pay their overhead cost.
“Even as well as having extra funds for operational cost and other expenses in the process of production,’’ she said. (NAN)