The Executive Director, Enterprise Development Centre, Pan-Atlantic University, Mr Peter Bamkole, has stressed the need for the Federal Government to enact new policies that will drive the growth of small and growing businesses in the country.
Bamkole, who stated this at the West Africa Regional Conference of the Aspen Network of Development Entrepreneurs in Lagos, described small and growing businesses as the driving force for the economy, contributing 50 per cent of the country’s Gross Domestic Product.
He said one of the challenges facing small businesses was the inability of entrepreneurs to access finance to grow their businesses.
“However, the story is changing and there is nothing we are looking for in terms of services that we do not have somebody within the ecosystem providing them,” Bamkole added. The Chief Executive Officer, MBC Africa, Mrs Tenemba Anna, said nothing had really changed in the challenges being faced in the ecosystem in the past 15 years.
The Director, Strategic Development, Aspen Network of Development Entrepreneurs, Devin Chesney, also stressed the commitment of his organisation to bridging the gaps through the entrepreneurial ecosystem snapshots initiative and other ecosystem-building initiative.