Income Generating Activities While On Campus

Every young person has a career ambition either to become a medical doctor, accountant, and engineer e.t.c. These are long-term goals that can be achieved through hardwork, dedication and personal sacrifice.

The role of finance can not be overemphasized in career development, lack of funds have affected dreams of young people becoming reality because some young people do not have guardians, parents or sponsors and getting scholarship is an uphill task because it is really competitive. Some students have drop out of schools because of this factor while others have engaged themselves in some illicit acts such as prostitution, crime, internet fraud, drug trafficking tarnishing their image and prosecuted by law enforcement agencies.

There various legitimate activities that a student could embark on which will serve as a means of livelihood. These activities are called Income Generating Activities.

Income generating activities are ideas, business that provides a regular flow of income for an individual. It provides financial benefits, produce small and regular amount of cash and improves the standard of living. These activities build individual self-esteem and satisfaction.

To start an income generating activity you require skills and small capital, there various skills that can be acquired through informal training and learning and when one becomes perfect on the skills application, it opens the door for greater opportunities. The vocational skills that could be acquired are hair dressing, barbing, confectionaries making, graphics & arts, photography, hat & beads making e.t.c.

This skill when acquired provides the essential services for the demands of students in the higher institution. Time constrain can be a barrier for learning but with planning you could make time your friend. The training could be done during semester break especially the second semester which is usually a long vacation while students awaiting admission can use that period to learn these skills which will help them become self reliant while in school.

Income generating activities require small capital to start, activities like GSM calls, event management, hall decoration, computer typing, graphics, photography, hat& bead making, barbing, hair dressing require limited funds but entails skills acquisition, time management, dedication and professionalism. The source of the start up capital could be from your personal savings, donations from relatives in terms of cash and kind, proceed from stocks, shares, contributions, loans from friends.

It is important to carry out feasibility study to determine the viability of the business. The outcome of the study will help in strategizing and answer the questions of what to produce? How to produce? , Who to produce for?

Do not forget your primary aim of being in the higher institution, it is very important you remain focus irrespective of the money you are making from your business, do not stab lectures because you want to attend to your customers nor miss your personal reading. With proper planning balancing academics and business should not be an issue.

You can also become an entrepreneur after graduation with your experience and skills acquired, the education you have will help transform your business into a bigger entity, instead of applying for jobs like other graduates, and you will become an employer of labour.