Nigerian entrepreneurs have been urged to strengthen business structures, professional management and succession planning to ensure enterprises survive beyond their founders.
The call was made at the fourth edition of Time Out With Kate, an annual entrepreneurship conference convened by Catherine Opeyemi Adesomoju, also known as Sister Kate, under the theme, “Building Transgenerational Businesses 4.0.”
The conference focused on the need for businesses to move beyond short-term profitability towards sustainable operations, leadership development and long-term wealth creation.
Discussions highlighted the risks facing businesses that depend heavily on their founders, particularly during leadership transitions, and the importance of establishing clear organisational structures, developing talent and preparing successors.
The initiative also promoted responsible leadership, financial intelligence, continuous learning, integrity and value creation as foundations for building enterprises capable of withstanding economic uncertainty and changing market conditions.
Adesomoju, managing director and chief executive officer of Spectrum Holdings, established Time Out With Kate in 2023 to advance entrepreneurship education, mentorship, leadership development and sustainable business growth.
The fourth edition was powered by His Presence Foundation, with support from itel Energy, Oraimo and Spectrum Innovation Technologies Limited.
The conference underscored the role sustainable businesses can play in employment generation, knowledge transfer and economic development, while encouraging entrepreneurs to build institutions capable of creating opportunities for future generations.