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ONE Foundation was set up in 2018 with the mission to help entrepreneurs start, build, grow and scale their businesses in an environment like Nigeria.
“Small businesses are powerhouses of socio-economic development around the world,” Oluwatoyin Ajilore, founder of the Foundation, said.
“According to Nigeria Bureau of Statistics and PWC, MSMEs contribute 48% of national GDP while also accounting for 96% of the businesses and 84% of the employment in Nigeria. Despite, their significant role to the economy, 80% of MSMEs are reported to fail in the first 5 years.”
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Ajilore said this, and her own experiences of multiple business failures, were the driving force for her to seek a way to systematically support entrepreneurs in the country.