The Lagos State Government says it is targeting an additional $1 billion in annual income from Small and Medium Enterprises (SMEs) within the next five years. This was disclosed on Monday by Babajide Sanwo-Olu, Lagos governor, who was represented by Adekunle Olayinka, his Special Adviser on Works, at the graduation ceremony of 253 beneficiaries of […]
BY TEMITOPE ADEBAYO The Small and Medium-sized Enterprises (SMEs) in Nigeria, who are facing financial instability caused by delayed payments, are now turning to digital solutions to bring predictability and security to their cash flow. A study by MacTay Consulting revealed that, businesses often wait between 60 to 120 days to receive payments, creating significant […]
BY MOTOLANI OSENI Small and Medium Enterprises (SMEs) stakeholders and members of the Organised Private Sector (OPS) have called for urgent reforms to aid recovery and alleviate the economic challenges faced by SMEs in Nigeria. The stakeholders, including manufacturers and policy experts, expressed concern over the severe impact of economic hardships, which have led to […]
In a bid to support the growth and development of Small and Medium-sized Enterprises (SMEs) in Nigeria, Forward Ever Initiative, civil society organization, has encouraged the federal and state governments, to partner with the Global Youth Skills Acquisition and Poverty Eradication Organisation (GYSAPEO). National Coordinator of the CSO, Ahmed Bello, at a press briefing yesterday […]
..Market Women, Small Businesses to get funds to grow their Business By Nsikak Ekpenyong In a bid to support the growth and development of Small and Medium-sized Enterprises (SMEs) in Nigeria, two prominent firms, Global Youth Skills Acquisition and Poverty Eradication Organization, Gysapeo, and Hugogeochris Investment Limited, have joined forces to empower and promote these […]
By Joy Obakeye Small and Medium Scale Enterprises (SMEs) can now quickly access from N5 million to N100 million to purchase equipment needed to grow and expand their businesses, from First City Monument Bank (FCMB) SME Asset Finance Facility. According to data provided by the lender, so far, over 25,800 SMEs have accessed this facility. […]
By Joy Obakeye With over 40 million Small and Medium Enterprises(SMEs) contributing nearly 50 per cent of Nigeria’s economy, there is an urgent need for SMEs to be fully integrated into the cashless economy drive projected by the government and Central Bank of Nigeria(CBN), an author and Former executive director, UAC Plc, Dr. Joe Dada […]
By Joy Obakeye The World Economic Forum (WEF), and the National University of Singapore Business School, in it’s latest report has indicated that 67% of executives from small and medium enterprises (SMEs) cite survival and expansion as their main challenge. The report found that amid recession fears, business leaders cite survival and expansion as their […]
World Economic Forum (WEF) in a new report has said that 67 per cent of executives from Small and Medium Enterprises (SMEs) cited survival and expansion as their main challenge, amid warnings of a global recession. The research from the WEF and the National University of Singapore Business School, also mentioned low margins, the challenge […]
By Ukpono Ukpong The Founder and CEO, Justwan Dezign Couture, Mrs Justina Wanda, has called on the government for more support in terms of grants to Small and Medium-sized Enterprises to help alleviate the burden of the harsh economic realities. She made the call in Abuja at a press briefing on the forthcoming Exhibition of […]
Saying that Small and Medium Scale Enterprises (SMEs) form the bulk of the businesses in Nigeria is stating the obvious. According to data, SMEs contribute 48% of national GDP, account for 96% of businesses and 84% of employment. Despite this significant contribution, the challenges that hinder the growth and development of the sector persist. Financial […]
Managing Director, Nigerian Export-Import Bank (NEXIM), Mr. Abubakar Abba Bello, has said that it is on the verge of addressing dearths of bankable projects and to increase flow of funds to Small and Medium Enterprises(SMEs). To achieve this, he stated that NEXIM is partnering with African Export-Import Bank (Afreximbank) to establish a Project Preparation Fund […]
In adjusting to the new normal, business owners and operators of Small and Medium Scale businesses have been advised to invest massively in technology and find ways to source their raw materials or supplies locally, as this is expected to boost their activities and help them stay afloat especially in the wake of the Covid-19 […]
Micro Small and Medium Enterprise (SME) operators across the country thronged the federal capital territory as the 7th ‘Made in Aba’ SME Exhibition kickstarts in Abuja. The exhibition which is sponsored by the National Council of Arts & Culture and facilitated by Senator E. H. Abaribe aims to expose entrepreneurs from Aba business cluster to […]