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SME Archives - Inside Business Africa
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Tag: SME

Access Bank partners SME.NG to roll out Ebi Marketplace

Access Bank partners SME.NG to roll out Ebi Marketplace

Business, Corporate Stories, Economy
SME.NG in partnership with Access Bank Plc and other leading institutions, including the Bank of Industry (BOI), LAPO Microfinance Bank, Chapel Hill Denham, and the Impact Investment Foundation Nigeria are launching the Ebi Marketplace – a Nigerian innovation for female entrepreneurs. The Ebi Marketplace consists of an access to capital market, an e-commerce mall and a knowledge market for female entrepreneurs in Nigeria seeking to digitize their businesses. Conceptualised and developed by SME.NG as a tangible solution to the impact of COVID-19 on female entrepreneurs, the Ebi Marketplace aims to close the gender digital divide in Nigeria by supporting women’s digital literacy and financial inclusion, while providing access to capital and markets. Thelma Ekiyor, the brain behind ...
‘SMEs need business models, innovation to thrive’

‘SMEs need business models, innovation to thrive’

Business
For SMEs and start-ups to thrive in the competitive world of business, they need to progressively innovate to ensure that goods and services reach untapped customer needs. Similarly, business models must allow innovation to flourish, where accelerators and innovation hubs have an important role to play in nurturing talent and identifying and supporting future unicorns. These were the words of Head, Strategic Partnerships, Microsoft 4Afrika, Soromfe Uzomah, while speaking on the theme, ‘Should post-COVID reimagining prompt African SME’s to revisit their business models?’, in Lagos.x While the COVID-19 pandemic has presented significant challenges to SMEs, Uzomah said it also represents opportunity to adapt to make the most of their resources. Business model innovation is one o...
‘How SMEs can access funding opportunities, list on Nigerian Stock Exchange’

‘How SMEs can access funding opportunities, list on Nigerian Stock Exchange’

Business
Experts have stressed the need for Small and Medium Enterprises (SMEs) under the agro-allied sector to form cooperatives where smallholders farmers will be aggregated for easy accessibility of funds and subsequent listing on the Nigerian Stock Exchange (NSE). Speaking at a webinar organised by the NSE, themed: “Capital Raising for SMEs through the Stock Exchange,” the experts said such cooperatives would help reduce the relatively high transaction cost small holders face, overcome access barriers to production resources and ultimately create a robust platform for them to list on the exchange. They bemoaned the challenges confronting the SMEs sector in Nigeria, despite that it potentially constitutes the most dynamic firms in emerging economies, limit their expansion capacity and...
‘Over 50% Nigerian PR agencies report revenues below N5m’

‘Over 50% Nigerian PR agencies report revenues below N5m’

Business
Over 50 per cent of public relations (PR) agencies in Nigeria are said to be reporting revenues of less than N5 million yearly, as a result, agencies must think outside the box to mitigate the current challenges. The Nigeria PR Report, which was packaged by BlackHouse Media (BHM), a public relations firm, said the report, which is the fourth edition, is dedicated exclusively to chronicling data on trends, perceptions, challenges, and prospects within the dynamic industry. A cursory look at some of the findings from the report showed that the insights presented are prognostic at the very least, creating a framework for practitioners to successfully manoeuvre these momentous times brought about by the outbreak of the COVID-19 pandemic. According to Lead Researcher, Compass Insig...
Experts urge protection of SMEs in national economy

Experts urge protection of SMEs in national economy

Business
Experts have called for the adoption of measures that will protect the Small and Medium Enterprises (SMEs) in Nigeria, and curb the escalating costs, supply chain disruptions, and tumbling aggregate demand in the economy. They also advocated the application of the Local Content Act in all areas of the economy, to mitigate the impact of the coronavirus (COVID-19) pandemic, and save small businesses. President, Lagos Chamber of Commerce and Industry (LCCI), Mrs Toki Mabogunje, who led the call at the 21st virtual Annual General meeting of the International Chamber of Commerce Nigeria (ICCN), stressed the need for the passaging of the Small Business Bill into law, saying it will lead to the development and sustenance of SMEs in the country. She said such measures, plus the proper...
New online infrastructure to bridge gaps between SMEs, customers

New online infrastructure to bridge gaps between SMEs, customers

Growth & Insight
To further reduce gaps in the demand-supply chain, Rensource, a provider of critical merchant infrastructure has unveiled a digital platform, Merchlist.co that helps small and medium-sized retailers get discovered quickly while enabling servicing and fulfillment of customer orders online. The Merchlist.co platform was developed as a solution to keep SMEs viable during the COVID-19 pandemic and has two main features, which are buy, which allows customers purchase directly from SMEs, and discover, which aggregates services, contact details and delivery methods, ensuring that end users can see service availability in real-time. The buy allows customers purchase directly from SMEs, while discover aggregates services, contact details and delivery methods, ensuring that end users can see ...