STUDENTS IN BUSINESS: The Past, The Present and The Future

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By Richard Agodzo

 

In African University College of Communications (AUCC), students take delight in their businesses because it is a source of income for paying their fees. 

To mentions a few names: Nolia Foods. Ganyobi Shito, Golden Sparkles, Vivago, Tessy Trends among others are sole proprietorships owned by students.

In previous years, the idea of owning a business was considered to the bigger space. Globalization, technology and innovation have taken the perception of owning a shop and having huge capital to begin a business away. Tertiary students are making it as entrepreneurs in their businesses to satisfy demands of other students.

Nolia Foods owned by Anthea Benson believes she sells the best ‘sobolo’ on campus. She said “Students are my target market and I go it the healthy way, but my market demand for the past six months is not like when I introduced Nolia on campus”. 

Patience Hammond, CEO of Ganyobi shito sees her business in the lime life of success. She said, “My ‘shito’ was in existence and on the market before I enrolled into AUCC. I made my ‘shito’ known to students since it is a companion”.

Golden Sparkles on the other hand is seen as a seasonal business on campus, owned by Wilma Entsiey. Wilma said, “My business is seasonal base, valentine day, Christmas and sometimes on birthdays of clients”. Vivago is new on campus and currently testing the market to pick grounds. “I know I am in competition with Nolia Foods but the choice is up to the students to decide”, said CEO Nerissa Nortey. 

The fashion trend CEO Theresa said, “Students do not really know my business but it known to a handful but I am making it out there through social media”.

The past of all these business were flourishing but it is getting tougher now. Taxes on their raw materials have also affected their output and branding to meet other competitors on the outside market has increased the prices of their products. Students now complain about the price now leading to low demand. 

The law of demand says, “If all other things being equal, the higher the demand, the higher the price”. In AUCC, this law does not apply here. A student said, “Our fellow students who sell to us should know we are students like themselves and try to moderate their prices to suite our pockets”. Could that be a fact?

The economy on the other hand favors those who can afford it at any cost and others are left out with no bargaining power. 

What then holds the future of these young entrepreneurs? Should we blame the economy, the government or their customers?

                                                                                                                                                                                                                                                                                                            


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