My Naija News - Atedo Peterside Advocates Respect For Sound Business Values Among Young Entrepreneurs

You are here:Home

News

Atedo Peterside Advocates Respect For Sound Business Values Among Young Entrepreneurs

Tuesday, 18 December 2007

Chairman of IBTC Chartered Bank Mr. Atedo Peterside called for more respect for sound business values among young entrepreneurs, in a speech entitled “What Can Young Nigerian Entrepreneurs Learn from the IBTC Story?” Speaking at the 7th Fate Annual Celebration and Entrepreneurial Awards, Mr. Peterside said that young Nigerian entrepreneurs should learn from the IBTC Chartered Bank experience in terms of sticking to those values in which they believe.

Congratulating 232 young entrepreneurs who successfully completed the Aspiring Entrepreneurs and Emerging Entrepreneurs programmes he offered them counsel for achieving success in their careers.

He noted that although the founders of IBTC Chartered were desirous of success, they knew it could only come through hard work, patience and compliance with the best business practices. Hence, they never allowed the so-called “Nigerian factor” to force them into cutting corners.

Their patience and hard work, he pointed out, was responsible for the phenomenal growth of IBTC Chartered from a N6 million start-up capital bank to a $1 billion company that it is today.

He advised young entrepreneurs to learn to start small and in time maximize the opportunities provided by partnerships with other investors who share the same business values.

He said, “If your business is powered or driven by shady dealings and corrupt practices, you will find that the interesting and important choice of transforming that business to the next level by bringing in credible partners with deep pockets may never come your way.”

Mr. Peterside warned young entrepreneurs against the grave danger of unwholesome business practices, “it could lead to loss of reputation. Once you have lost your reputation, you may find yourself trapped in your own company. You may have no option but to continue in the business forever unless you are prepared to contemplate an untidy exit”, he added.

Reflecting on the recent merger of IBTC Chartered Bank Plc with the Standard Bank Group, Africa’s largest banking group, Mr. Peterside said, “It was a culmination of the bank’s decision to seek a partner with deeper pockets that shared the same core values and long-term vision of how a successful universal bank should be run in Nigeria”.

In his welcome address, the Chairman and Founder of Fate Foundation, Mr. Fola Adeola, expressed appreciation to all their partners and restated Fate Foundation’s commitment to training young entrepreneurs. He said these entrepreneurs would contribute their quota in the fight against poverty and unemployment across Nigeria.

Quote this article on your site | Views: 592 | Print | E-mail

Comments (1)

	1. Written by This e-mail address is being protected from spam bots, you need JavaScript enabled to view it on 29-12-2007 03:03 - Guest
	Sound Biz Values among Young Entrepreneu Mr Peterside has shown that integrity, leadership and sincerity of purpose have long term benefits even in business as practiced in Nigeria. The concept of entrepreneurship must not be tainted by get-rich philosophies that lack strong values of hard work, sound ethics, service and perionformance. Young entrepreneurs, particularly those in Nigeria, would do well to pay attention to the experiential wisdom of Mr. Atedo Peterside. http://omi transforms!

Write Comment

Please keep the topic of messages relevant to the subject of the article. Personal verbal attacks will be deleted. Please don't use comments to plug your web site. Such material will be removed. Just ensure to Refresh your browser for a new security code to be displayed prior to clicking on the 'Send' button. Keep in mind that the above process only applies if you simply entered the wrong security code.
Name:
E-mail
Title:
Comment:
Code:*
	I wish to be contacted by email regarding additional comments