By Anino Aganbi

Being your own boss might be made to look easy when you are on the outside looking in, but it is not as easy as it may seem. Like a lot of other business women, Mrs Toyin Nwaokolo is one of those women who are set to beat the odds when it comes to her business. Determination to succeed where others might have failedhas made her stand firm in her business even when the economy dictates otherwise. In her chat with Vanguard, she tells more.

HOW did you start your business? Well, it started when I was in school. I had the flair for years. I had a small joint where I could do chicken and make moi-moi too. That was during my second year in the university. Prior to that, I lived with my aunt; her daughter used to make cake so I picked that interest along the way.

I enjoyed it though it was not that comfortable as we always had quarrels and disagreements. Before I got into the university, I was at Yabatech doing my OND. In between that, I was doing cakes and other confectionaries for people. During the period of my stay with my aunty, the flair for baking grew.

There was an incident where one of her customers whose wedding cake she had baked came back for a repeat job but this time around it was for her child’s first birthday. I took the job because my cousin had travelled. When my aunty got back, I told her what happened.

Baking the cake

She insisted I refunded the money to avoid ruining the cake but I insisted that I could do it. It took a while but I succeeded in baking the cake which turned out beautifully. I wanted to stop school because of true flair I had in baking to which my aunty refused.

I had made up my mind to go fully into catering instead of going back to school. At the point I got admitted into the University, I was doing a bit of catering alongside my studies. I shuttled between Lagos and Ado -Ekiti until I realized I needed to have something stable in Lagos to enable me earn more income.

I partnered with a friend to run a barbecue business during my school days, after which I didn’t continue upon graduating from the University. During my service year, I still catered for friends. It was something that grew in me and I kept it up. I tried working after service but it just wasn’t in me. This prompted me to start my own business because the baking and cooking aspect was still burning in me. I still do food but the bakery which will be four years in August takes up more of my time.

What was starting Tantis like?

That name is an abbreviation of my son’s name. Before we could start, we had made some blunders about the equipments and others. We had to sit back for some months while the rent was running. We kicked up production soon after. It has been very rough, with a lot of sacrifices made to keep the business afloat.

At first, the landlord demanded for ten years rent upfront, but when he saw I was a young woman starting up, he suggested five years which I still could not afford.

Keeping business afloat

He finally agreed on three years rent age after much appeal. I was able to pay the rent with the support of my husband. After some time the bakery picked up. It has been a struggle but we give God the glory.

What has been the most interesting part of running your business?

I have ample time. I have time for my children and my home. I also have time to do other things. It is a little bit difficult when it comes to staffing, but God has been faithful.

What challenges have you experienced as a business woman?

Financial constraint takes the top of the list. When it comes to production line, you need money to work. Lack of electricity makes you run on diesel more often. You need to pay cash for all the ingredients needed. I have some loans running at the bank but it is still not enough. The business will keep running if there is a constant flow of cash.

How do you move your products into the market?

Right now, we basically have walk in customers. We also have distributors. In instances where we have dissatisfied customers, we try to provide solutions and make them understand. There are certain stages the bread has to go through before it can be sliced and sent out to the market. Customers also come in from different areas because they like our product. We were distributing to supermarkets and schools but had to stop due to various reasons.

What is it like competing with other bakeries in your area?

They have their own niche and I have mine. I have been having series of testimonies about my products to the extent that some people who have moved out of the area still come all the way back to purchase from my bakery.

Purchase from bakery

I am very particular about making soft bread because I don’t like heavy bread or bread that brings out crumbs. It has to be very soft and fluffy.

Given the opportunity of making changes, what would you change business wise?

I would love to do restructuring and turn the bakery into an automated one. That way, you won’t have to use your hand to do the molding. When it’s automated, it’s from the mixer to the molder and other things.

Should the government be blamed for the rise and fall of SMEs?

Not particularly, but we can probably split it fifty-fifty in the sense that electricity can make SMEs collapse. What you spend on diesel and fuel is enough to fail the business. It discourages you from continuing your business. Government should also be able to stabilise prices. There is a union but it doesn’t work for everybody. With the increase of things in the market, you cannot increase your product price because if you increase and the others haven’t, nobody will buy your product.

Payment of tax…….

We are double taxed. I have a case of consumption tax. I was given a fine of a million on consumption tax and I keep asking what I am consuming. They might as well ask those in the open markets to pay consumption task. I pay what I can afford every month. Every month, I am being asked to pay 5% from what I sell.

This is a product that I distributes the money it earns on wrapper, manpower, production and other things, and I am still expected to pay 5% of whatever I earn asconsumption tax. I run a bakery and not a hotel or eatery where you would expect there is so much inflow of money.

Three are different taxes beening levied at the federal and state levels.All of these I endeavor to pay. After payment of salaries, I use my discretion to pay for all other taxes. If I keep paying 5% on all the taxes levied out, there will be nothing left to run my business with.