Nigeria to Create 500,000 Jobs at $10 per Job
EXETER, NH – June 1, 2016 – Looking to create over 500,000 new jobs through entrepreneurship in an economy plagued by high unemployment, Nigeria turns to Knowledge Institute for Small Business Development (KISBD) to kick-start entrepreneurial development in Africa’s largest economy. With a growing population of 178 million, KISBD’s Business Development System (BDS) will empower thousands of Nigerian students entering the workforce to create sustainable and profitable careers through self-employment. Adoption of the KISBD BDS will enable the creation of a half-million new jobs at a cost of $10 per job.
“There is no better way to turn around an economy more quickly and sustainably than through promoting innovation and small business development,” said Dr. Deborah Osgood, president and CEO of KISBD. “By leveraging people, process and technology to foster the art of innovation and the science of entrepreneurship, we will be helping to fuel the personal creativity required to innovate and the knowledge required start, grow and succeed in business.”
A delegation of high ranking Nigerian government officials traveled to New Hampshire to discuss the practical process of implementing the KI BDS across Nigeria, specifically targeting Nigerian youth who, according to the World Bank, experience an unemployment rate as high as 80%.
The Nigerian National Universities Commission (NUC), the major driver behind this initiative, is looking to address the problem of focusing mainly on promoting white collar jobs. With roughly 70 million individuals representing the majority of the workforce at ages 15 to 35 years old, the availability of total white collar opportunities does not line up.
“It is simply unrealistic to promote mainly white collar job opportunities for our youth,” said Dr. Folasade Yemi-Esan, Permanent Secretary of the Federal Ministry of Education. “The KISBD approach allows us to accelerate innovation in ways that will help our citizens to create their own jobs and develop sustainable career paths in the trades as well as in commercializing new approaches to solving some of our economy’s most pressing problems.”
The BDS was created by KISBD founders, Drs. William and Deborah Osgood, both scholars and practitioners in the field of entrepreneurship. It is comprised of both a highly structured step-by-step virtual learning component and a public/private network of resources tailored to promoting self-employment and small business development. It has been applied successfully in fostering entrepreneurship across the U.S. for four decades including disadvantaged populations such as individuals with disabilities, veterans, women, Native Americans and minorities.
The Knowledge Institute for Small Business Development (KISBD) specializes in promoting self-employment and small business development through 1-on-1 coaching, economic and workforce development agency training programs, virtual learning communities and business-to-business consulting services. As a social entrepreneurial model launched in 1996, KISBD facilitates public/private collaboration to promote awareness, access and use of over 30,000 free and low-cost public small business assistance programs. This innovative approach is helping to connect 2.5 million individuals each month to providers of small business assistance programs, goods and services.