SuleimanSpeaks

In the next couple of days, June will be over, we would be entering a new month (July). The month will also mark the beginning of the second half of the year.

For some people, it has been a tough first half (understandably so - pandemic, economic challenges, etc) trust me I know but for a few, it has been a great half-year.

No matter what the outcome of the first half has been, we still have a full six months ahead of us and we can still turn around our fortune.

Whether we are willing to admit it or not, we will subconsciously do a quick review of how far we have come during the year. Some business owners are however more intentional, they will actually take out time to review the past 6 months, discuss and map out strategies for the next half ( I believe that is the category our members fall in) so that they can finish the year well.

Next Tuesday I will be holding a webinar on Strategies for Managing Half Year Business Retreat. I believe you will find the session of interest to your business.

Here is the flyer for the event. If you know any business that can benefit from it, please do share it with them. See you at the webinar.

I have also recorded a Youtube video and Podcast (posted separately) you can listen to it in preparation for the webinar. Let me know if you require any support or questions

This episode of my podcast is dedicated to all the fathers out there, it's my first podcast this year to men (more to come). I just wanted to say we see and hear you. I understand your struggles and we applaud your contributions to families. 

We can't thank you enough. Please open up, ask for help, I know men don't talk a lot but we need it for the survival of our species. 

So that we can focus more on the men issues, I will be creating a new podcast channel for men (separate from this one) 

Till we speak again. Take care of you and happy fathers day.

Best Regards,

Suleiman 

Here is the article I am referring to in the facebook live session: 

10 Things A Business Owner You Needs to Know About FG Proposed Budget 2020

Note: If you like to read a detailed analysis of how I arrived at some of my position please the full article here:

Though the budget has not been approved yet, this is what the Federal Government (FG) has presented to Senate for ratification. If the budget were approved as it is today, here is what we know:

1. We are spending more than we are earning. The budget is a budget of deficit (Yikes !)

2. We are planning to spend 33.86% of expected revenue on servicing debt (in layman language we are paying huge interest to local Banks, IMF, and the Paris Club)

3. Capital Expenditure is the smallest line item on the expenditure side. When you complain about Nigeria not having world-class schools, hospitals, etc, don’t ask why this is the case, it’s all in the numbers (it will impact your business somehow)

4. Independent Sources (of which Taxation is a key ingredient) will impact your business in more ways than you can imagine. It is the highest revenue item on the revenue side, bigger than the revenue from Oil. Put your house (I mean your finances) in order. FG depends on that revenue line to “balance” the budget.

5. Non- Oil Export will get some focus from the Federal Government the Nigerian Export Promotion Council (NEPC). Head to the NEPC site to find out how you can get into export business (if you are interested) there is a lot of opportunities there untapped.

6. Banks: As gloomy as the budget may look: Banks will still make money (a lot from loans, transaction fees etc) If you provide products and services to the bank just remember a lot of suppliers will try to do business with them (Competition will be intense). Most Banks look stable but watch out possible mergers or acquisition)

7. There would be a lot of opportunities for Private-Public Partnership (PPP).  FG cannot fund all her infrastructural plans (remember the budget is in deficit and the amount earmarked for Capital Expenditure is small)

8. Given the cost of governance is high (the numbers say so), Federal Government will aggressively (hopefully) commence the merging of parastatals and ministries. If you play big in the public sector, expect your table to shake a bit (expect some disruptions)

9. If you are in the Alternative Energy business – You are in the right business, more opportunities for you

10. The government will automate more of its process in the areas or revenue collection – Technology company and accountants/auditors will make money. Invest in automation.

If you like to read a detailed analysis of how I arrived at some of my position please the full article here:

Disclaimer: I am not an economist and I don’t pretend to be one, I am only giving my view purely based on this pictograph (shared here). All my inferences were drawn purely from this table provided by Deloitte. Remember is only a proposed budget it has not been approved yet, so somethings can change.

If you need to make any financial decisions based on the budget, please consult with your financial advisers.

https://medium.com/@suleiman.shaibu/analysis-of-the-proposed-nigerian-federal-government-fg-budget-2020-a-non-economist-view-38235926c1b2

Hey people, we are talking about men today. I am sure you already know that I am passionate about Men issues. The world rarely talks about Men issues, it is assumed that they have no problems - Like really, are you kidding me ??. This podcast is a teaser. Tomorrow I will start a series talking about men and what we can do to make World International Men special for us and other menfolks. 

Let hear your views - let's have it raw (just no swearing :) 

In thi podcast episode, we would be talking about the importance of an Entrepreneur or a salesperson knowing their numbers