As rising sun illuminates the fresh day, Udo Udoma & Belo-Osagie office, Friday November 29, 2024, transformed into a bustling hub of energy, innovation, and camaraderie.
It was the U-Law Black Friday 8.0! Not just another event— but a testament to the boundless potential of young minds, the transformative power of technology, and the community spirit that U-Law embodies.
The air buzzed with excitement as entrepreneurs – startups and tech enthusiasts from far and wide gathered for what has become a flagship event on the U-Law’s calendar. From the outset, it was clear that this year’s edition would outshine all others.
A Day of Inspiration and Innovation
The event kicked off with electrifying address by Yinka Edu, partner, Udo Udoma & Belo-Osagie.
Her words resonated deeply, challenging the audience to embrace innovation and tackle the challenges of tomorrow with courage and creativity hence the theme: “Pitch Perfect: Effective Storytelling for Business Growth”.
She highlighted that in today’s fast-paced, hypercompetitive business environment, the ability to craft and deliver a compelling business narrative has become essential for securing funding, forging vital partnerships, and driving customer engagement.
She said the theme for U-Law 8.0 was carefully chosen to empower attendees to harness the power of pitch-perfect storytelling to accelerate the growth of their enterprise, and emphasized the power of authentic storytelling in building brands, connecting with customers, and driving business growth.
Yinka reminded the attendees that every business has a story hence the key to success lies in telling it in a way that resonates with your audience.
Nestled under the theme above, U-Law Black Friday 8.0 provided unique perspectives on critical business challenges.
Aniekan Udo-Okon, an Associate at Udo Udoma & Belo-Osagie, identified common regulatory compliance pitfalls among startups in the Nigerian business environment.
According to her, some of pitfalls are in the areas of business registration, business permit, notification by person with significant control (of a business), post-incorporation filings and the maintenance of statutory books.
To avoid these pitfalls, she said, startups should engage the services of law (experts) firms for proper guidance on registration of their business with the Corporate Affairs Commission (CAC); protect their Intellectual Property by registering their trademarks and copyrights; ensure compliance with the Nigeria Data Protection Regulations (NDPR) by having a clear privacy policy, conducting regular audits, and training staff.
Udo-Okon also called on entrepreneurs, generally, to separate personal and business finances and understand their tax obligations.
Participants at the U-Law Black Friday 8.0 were also educated on how to avoid these pitfalls such as developing a compliance framework by establishing a compliance team, regular compliance audits and putting in place internal monitoring systems; partnering with experts in law and taxes, compliance consultants and employee training.
The speakers further emphasized how leveraging technology could help address these pitfalls through automated compliance processes and adoption of compliance management platforms.
Meanwhile, flagship Panel Session on “Improve Your Steeze: Crafting a Brand that Speaks to Investors and Customers,” Razaq Ahmed, CFA, CEO and co-founder of Cowrywise, and other industry leaders, including Nnenna Onyewuchi, co-founder Yellow Brick Road Lagos; Chikodi Ukaiwe, CEO, Salad Africa (Techstars ‘22); Olúwatóyìn Emmanuel-Olubake, Investment Director, Novastar Ventures; and Eniola Alli Faweya, head of Corporate Comms, Guinness Nigeria, dissected the intricate art of brand building during a conversation moderated by Dumebi Anike-Nweze, an Associate at Udo Udoma & Belo-Osagie.
The first Breakout Session, “How Business Incubators Accelerate Growth for Startups,” with experts like Subuola Oyeleye, Founder Beauty Hut Africa (Techstars ‘23); Karina Karunwi, AME Regional Host, Impact Hub Network; Femi Moito, Founder, Innovest Afrika; and moderator Ayooluwa Chukwujim Osigwe, further enlightened the attendees on startup development and how business incubators can transform entrepreneurial ideas into scalable ventures.
Addressing the specific challenges of the Nigerian food industry, the second Breakout Session featured Tobi Hamilton, founder, THE HOUSE Lagos; Gatumi Aliyu, co-founder, Vendease Africa; Morolake Emokpaire, head of Marketing, Mondelēz International; and Banke Makinde, founder, 3 by 4 Foods, as moderator.
Black Friday Deals
True to its name, U-Law Black Friday 8.0 delivered unbeatable deals. How? Aside the structured sessions, its unique Speed Dating session, “5 Minutes with an Expert” offered attendees focused interactions with key professionals: an experienced investor, a legal expert, a successful founder, and a branding specialist.
These five-minute conversations provide an opportunity for vital, direct mentorship.
Looking Ahead to Black Friday 9.0
As the curtains fell on U-Law Black Friday 8.0, the lingering smiles and energetic discussions hinted at the event’s success. Attendees left with memories of inspiration, connections, and newfound ambitions.
Black Friday 8.0 was more than an event—it was a movement, a call to action for innovation, and a celebration of the remarkable talent within U-Law. As the countdown to Black Friday 9.0 begins, one thing is certain: the future is brighter than ever.
