Oluwaseun Bamiro Babalola is the Chief Executive Officer, and Managing Director of The YNORTH Latest Indigenous Fashion Brand, with over 60 Retail Outlets Nationwide.
In this exclusive interview with News Rain, he spokes about his next move, what government need to do towards the promotion of locally made products among many other issues. Excerpt:
Can you please introduce yourself?
My name is Bamiro Babalola Oluwaseun, I’m the CEO/ MD of the YNORTH Indigenous Fashion Brand, with over 60 retail outlets in Nigeria.
I studied Computer Science at the Lagos State Polytechnic, as for my Secondary School level, I attended Government College Ibadan.
I’m from Ijebu Igbo, in Ogun State part of Nigeria.
What is YNORTH All About?
YNORTH is an Indigenous Fashion Brand that is into the production of different kinds of fashion accessories, such as clothes, shoes and anything you can think of, as regards Fashion.
We officially started YNORTH on December 15th, 2010, though it was not easy when we started we keep breaking ground through solving different problems that come as challenges towards discharging our duty.
So by the special grace of God, YNORTH will be ten years by this coming December.
What Can You Say About Accessing Soft Loans From Government Commercial Institutions To Boost Your Production Level?
Yes the loans are real, I have been able to secure the loan, and it was really helpful, I appreciate the government in that regards.
Though one needs to just be well structured before they can give out a loan, the Bank of Industry and the Central Bank are really helping the young entrepreneur to grow up their businesses only they have to be well structured before they can have access to such loan, because the processing of such loans is long.
So, if someone business is not well structured, they might not give him or her the loan, because those institutions will not want to give out money to someone that will not be able to refund it.
But I can assure you that if your business is well structured, and you’re patient enough, you will surely get the loan, and I think it’s better to wait and process those loans than to go for a loan elsewhere with the highest interest rate that will later affect you as a young entrepreneur.
Bamiro Babalola Said Government Need Policies On Locally Made Products
What Are Your Challenges As An Entrepreneur?
The only challenge so far is patronage, the level of patronage still needs to be addressed.
I think the government should probably provide some enabling environment for the local manufacturer to sustain their businesses.
Government at all level should introduce policies that will encourage people to pick locally made kinds of stuff, by doing so, it will positively affect our production chain.
When there is a higher demand for our products from the customers, surely our products will be affordable because of the mass productions.
I can assure you that we are producing locally good and quality products, than that of some imported materials, but some people will still prefer to buy those imported materials at a higher price than ours.
So, I think the government need to help us the local manufacturer to sustain our businesses.
What Is Your Advice For The Graduates That Are Looking For White Collar Jobs?
Though at YNORTH, we have not started training people, and that is the area we are looking forward to, as this will help our graduates that are looking for white-collar jobs to learn one or two skills to sustain themselves and their families.
They should be focused and follow their dreams. They should summons the courage to learn a skill or business that will sustain them.
They can be CEO of a company’s with time, hardworking and dedication, they should stay focus and follow up their dreams, with time, everything will work out fine for them.
Where Did You See YNORTH In The Next Two To Three Years To Come?
We want to be the largest Fashion Brand Outlet in entire Africa, that is our next target and I believe with hard work and dedication we will surely be there.