In keeping faith with the move to re-invent the growth and development of small and medium enterprises, Nigerias telco giant, Etisalat, is providing lifeline for small business. In this report, ONYEDIKA ONYEANUNA explores the telco giants move to boost SMEs.To say that Small and Medium Scale Enterprises (SMEs) are very important to the recovery and development of Nigerias economy is stating the obvious. Indeed, such a submission regarding the relevance of the sector is more compelling at this critical time of economic downturn. Unfortunately, the sector is grappling with a host of challenges that threaten the realization of its potential contributions to national development.The Gross Domestic Product Report for Quarter Two released by the National Bureau of Statistics highlighted the need to provide an enabling environment for SMEs growth in Nigeria. It acknowledged that growth during the period in the non-oil sectors was largely driven by activities of SMEs across various sectors.In Nigeria, there are about 37,067,416Micro, Small and Medium Enterprises according to a collaborative survey carried out by the Small and Medium Enterprise Development Agency of Nigeria and National Bureau of Statistics in 2013. This figure also accounted for about 47% of the countrys Gross Domestic Product that same year. In 2014 and 2015, the sector respectively accounted for 55% and 48% of the national GDP according to the Federal Ministry of Industry, Trade and Investment.This notwithstanding, the sector is faced with a host of challenges affecting its operations. These, as BNM, revealed by the survey include access to finance, poor infrastructure, and inconsistency in government policies, poor support business development services, access to market, multiple taxation and obsolete technology.It is instructive to note that these challenges are not overtly exclusive to SMEs operating in Nigeria. Several other countries within and outside the shores of Africa are either going through same or very similar ones. While providing solutions to some of these challenges may be a strictly Government affair, there are a couple of accessible interventions that could go a long way to reposition the sector for greater yield of benefits to the economy. The private sector is generally looked up to drive the re-inventing of SMEs operations in the country.In keeping up with this expectation and more importantly the United Nations Sustainable Development Goal on Decent Work and Economic Growth, Nigerias most SMEs-friendly network, Etisalat in partnership with the Enterprise Development Centre of the Pan Atlantic University recently held a business networking and empowerment meeting for SMEs in the country.The initiative is a quarterly business platform that seeks to facilitate market access for SMEs by keying them into the value chain of large organisations, bridging the gap, and enabling local content development and participation in various sectors of the Nigerian economyIn the last eight years of operation in Nigeria, Etisalat has stayed true to its commitment to contribute to the development of the nation through various initiatives and platforms targeted at driving the growth of the Micro, Small and Medium Enterprises in Nigeria.Alluding to this stride recently, while speaking at the recently held Market Access forum in Port Harcourt, Head, Enterprise Marketing, Etisalat Nigeria, Chinelo Mbanefo said Etisalat is committed to working for the growth of the SME sector through the provision of solutions that will aid in addressing some challenges facing SMEs in the country.SMEs have been identified as drivers of the economy. This necessarily puts the burden to develop the sector on all stakeholders like Etisalat which has not kept secret its interest in driving a vibrant SME sector through the provision of innovative solutions. We have developed specific support plans to meet the needs of SME operators in the country she saidThe Director, Enterprise Development Centre, Pan-Atlantic University, Peter Bamkole, who also spoke on the efforts by the partnership to empower SMEs for economic growth and sustainability.Market Access is SMEs-focused; it is a platform to empower SMEs with the basics that would enhance their growth and enable them drive the growth of the economy. The desire is to provide a platform that SMEs can exploit to key into the value chain of a network of organisations thereby enabling local content development and participation in various sectors of the Nigerian economy, he said.For Prince Samuel Titilope, who has attended 10 out of 14 Market Access sessions since inception in 2011, the impact has been quite phenomenal on his business. I am confident to say that my business has drastically improved because I get useful business insights from this forum. This is why I travel and attend the forum wherever it is holding because I also get the opportunity to connect with other SMEs during the forum, he said.Prince Titilopes testimony is one among many others that speak to the impact the initiative is having on Small and Medium Enterprises across the nation. Indeed, the narrative has been one of tremendous success since its inception in 2011.Market Access has aided Small and Medium Scale Enterprises (SMEs) in networking and developing productive relationships with larger organisations. Last year, the platform toured the country to regions including Lagos, Abuja and Port Harcourt with a combined total audience of over 2,000 people for the year. This year, the platform toured Port Harcourt and Abuja and Lagos.
Click here to read full news..
