How FinTech Can Help Ensure The Survival Of SMEs In Nigeria
According to Price water house Coopers (PwC), in Nigeria, Small and Medium-sized Enterprises contribute 48% of the national GDP and account for 96% of businesses and 84% of employment. Despite the significant contribution of SMEs to the Nigerian economy, challenges persist that hinder the growth and development of the sector. Numerous studies report that the […]
Payhippo Extends Lending Services To SMEs
SMEs are the driving force behind Nigeria’s economy. They account for about 96% of businesses and 84% of employment in the country. However, limited access to credit continues to stifle the growth of SMEs and limit their contribution to the country’s GDP. Payhippo was designed to provide SMEs in Nigeria with credit facilities since it […]
Top Tech Tools For SMEs In Nigeria
Small business owners are often faced with the daily task of drafting proposals, meeting with clients, checking emails and administration tasks, etc such that it is easy for them to become overwhelmed and exhausted. Fortunately, advances in technology, software, and apps mean that there are a great number of digital tools ready to help them streamline […]
How Technology Can Impact Nigerian Startups And SMEs
The SME sector is the backbone of major developed economies, as well as contributesto employment and economic growth. In South Africa, SMEs account for 91% of businesses, 60% of employment, and contribute 52% of total GDP. In Nigeria, SMEs contribute 48% of national GDP, account for 96% of businesses and 84% of employment. Read more […]
The Best Insurance Plan For SMEs In Nigeria
The role of small and medium enterprises (SMEs) in the economy of Nigeria cannot be underestimated. According to the Nigeria Bureau of Statistics (NBS), local SMEs contributed about 48% of the national GDP in the last five years. Read more about Insurance There is an estimate of 17.4 million SMEs in Nigeria and they […]
Productivity Tips For SMEs
The manufacturing environment is very competitive, and so SMEs do not only need to improve their productivity, but also do it fast. The industrial output of Nigeria’s economy is largely contributed by SMEs, so productivity at SMEs should not be taken for granted by any chance. Read more about Business Below are 6 ways […]
4 Funding Opportunities For SMEs In Nigeria
The significance of SMEs in Nigeria cannot be overemphasized, so it is safe to say that SMEs constitute greatly to the economic development of the country and as such, should be given utmost priority by the government. Read more about Business However, one of the top challenges faced by small and medium scale businesses […]
Innovation Practices For The Survival Of SMEs In Nigeria
At the centre of every economy, there is always room for Small and Medium Enterprises (SMEs) which actually make up the vast majority of firms that operate in Nigeria. Read more about Business Oftentimes, socio-economic crises related to people’s health, such as the COVID-19 pandemic, can be expected to have dire effects on SMEs, […]
Top 4 Digital Marketing Strategies For SMEs in Nigeria In 2022
Digital marketing is a buzzword in today’s business world. It is considered an integral part of doing business in today’s world. Digital marketing simply means all types of marketing done through digital platforms. Read more about Business To stand out in a saturated market, businesses, whether great or small, need to employ the technology […]
Top 4 Common Challenges For Small Business Owners And Recommendations
Nigeria is the biggest market in Africa, with a population of over 200 million people. With this population, Nigeria is a viable place to do business. However, business experts and investors have claimed that the business climate in Nigeria is harsh. According to a World Bank study, Nigeria ranked 131 out of 181 nations […]
6 Beneficial Market Insights For New SMEs In Nigeria
As a new SME, it is very unwise to enter the Nigerian market without gaining insights into the terrain. Many businesses fail because they fail to gain insight into the country’s business terrain. Many people enter the Nigerian market in a haste, without doing their due diligence. Read more about Business As a marketing […]
Why Large Scale Businesses Need SMEs To Thrive
SMEs and Large Scale businesses are both great contributors to the economic growth of Nigeria, and have both always worked together. There are now more integrated forms of collaborations between both large and small firms, even the largest of companies have to engage with multiple networks of relationships for the creation of new knowledge. […]
How SMEs Can Deal With Financial Crisis
A financial crisis can happen to any business at any time, however, its worst hit is small and medium scale businesses, because most of them may not have the same financial cushioning as large companies. Read more about Business This means that they often don’t have reserves to help them during these difficult times. […]
Osinbajo To Headline Made In Nigeria SMEs Conference & Exhibition As Keynote Speaker
The Made In Nigeria Project, organizers of The Made In Nigeria SME Conference has officially announced the fifth edition of its annual conference scheduled to hold on Tuesday, 30 November 2021 at the Landmark Events Centre, Victoria Island, Lagos. The one day Conference & Exhibition, themed; A Post-Covid Economy – The Growth & Future of […]
How Financial Literacy Affects SMEs
Anybody can own an SME but not everyone who owns an SME would be considered financially literate. A business has different aspects and parts to it, and one of the most important is its finances. Unfortunately, many people are driven by the need to make money, so they start building a business, but very […]
5 Proven Tips For Managing Your Finance As An SME
The biggest challenge for small and medium businesses is financial management. Many small business owners often complain of how they can’t explain financial loss despite their shrewd financial management. Sadly, thousands of small businesses within the country don’t survive their third year due to poor financial management. Read more about Business Managing your finance […]