Micro, small and medium scale enterprises in Nigeria has clamoured for more recognition and promotion of their support and contribution to nation building even as they collectively call on government of all tiers to provide conducive atmosphere that could encourage the sector to operate optimally for economic growth and development.
Speaking on the needs to empower the informal sector in the country with the necessary tools, Emmanuel Excel Ogbeide said, small and medium scale enterprises (SMEs) generally have a huge potentials for employment generation and wealth creation in any economy and that if they are duly encouraged, they would help create even more jobs thereby reducing the high level of unemployment and consequentially helping to reduce crime rate in the Country. As small business development consultants, recognizing and promoting the efforts of SMEs is a core service of our organization.
According to Ogbeide, micro, small and medium enterprises outnumber large companies by a wide margin and also employ more number of people. SMEs is also responsible for driving innovation and competitions in many economic sectors, even as is seen as veritable and viable engines of economic growth and development.
But in Nigeria, SMEs operation is slow and in some cases stunted due to a prevailing challenges of access to funding /credits. He added that lack of adequate credit scheme is a major challenge of SMEs. It’s so because of the inability of banks to extend credit to the sector due to poor documentation of business/project proposals as well as inadequate collateral by SME operators, cost of packaging appropriate business proposal, poor policy making, multiple taxation, epileptic power supply and inability to employ consultants, among other factors contributing to the unconducive business environment in Nigeria.
To further recognise, promote and work with the above mentioned sector in the country, the President, Business Builders Limited, and a renowned International Trade Development Consultant with over twenty years wealth of experience in both Private and Public Sector Consulting, Emmanuel Excel Ogbeide has identified more than 100 associations of the informal sector, said his organisation is ready to partner with financial institutions, media, government agencies and trade support institutions, local and foreign trade support institutions, trade associations, NGOs, civil societies, religious organisations, foreign organisations and well meaning individuals, to help support this ongoing programmes for SMEs. Ogbeide called all and sundry to come out to encourage and motivate this self-employed group of Nigerians that are creating employment for Nigerians despite the harsh economic environment. Come July 27, 2014 at the Indoor Sports Hall, National Stadium, drums of awards will roll out for participants of this first hand occasion.