Lagos- An entrepreneur, Mrs Precious Aremu, in Lagos said that most of the nation’s new business frontiers were not being effectively run due to the absence of administrative structure.
Aremu, Chief Executive Officer, Palinio Cookies, told newsmen in Lagos, that contrary to other opinions, effective business structure remained sacrosanct to business development and growth.
She said that well developed business structures would position a company to be ahead of its peers and sustain returns on investment.
“There should be obvious distinction of the units and interaction among them but not meddling in their operations as it was often observed in many small businesses in the country.
“They have yet to adopt the entity concept which states that the life of a business is completely separated from the life of the owner of the business,” she said.
She also urged entrepreneurs to take refresher courses in their areas of business as part of efforts to jump-start growth and profitability.
Aremu said that sometimes the panacea of venturing into new business was to adopt partnership in its running.
“Sometimes partnership seems to be the best in getting into a virgin business as it will bring the partners experiences to bear in the operations, especially when they are quite knowledgeable.