By Peter Egwuatu

Diamond Bank Plc, a quoted entity on the Nigerian Exchange (NSE) has stated its readiness to continuously contribute  to the growth of the economy by  empowering entrepreneurs and other Small Scale Enterprise (SMEs) in the country.

The Bank has been showing commitment in repositioning the SMEs in the country despite the apathy shown by other banks in financing entrepreneurs.

A cursory review of the  most industrialised countries across the globe show that there has been conscious effort to drive the small and medium enterprise sector which is undoubtedly the engine growth most advanced economy. The United States of America, China, India and Japan are some of the countries where SMEs have played significant economic role in such areas as provision of employment, deepening research and development as well as enhancing products and service industry.

However, despite the invaluable contributions of this sector to a nation’s GDP, SMEs in Nigeria are plagued with series of challenges from cash flow, poor planning, lack of focus to management. Although some entrepreneurs in Nigeria may have good ideas about starting a business, they lack the ability to effectively manage and develop the business plan.

But there are signs that something positive is being done in that regard by some financial institutions to address the situation.  For instance, Diamond Bank is deepening its engagement in the area of business education with emphasis on SME in Nigeria in the bid to promote sustainable entrepreneurship.  In a partnership with The Enterprise Development Service (EDS) of the Pan_African University, Lagos, the Bank recently concluded the training of fifty entrepreneurs on how best to grow their businesses and become successful like the Bill Gates and Warren Buffets of this world.

For Ime Edoho, one of the fifty participants who underwent a robust training on Building Entrepreneur Today (BET), a programme sponsored by Diamond Bank at the Enterprise Development Service (EDS). Pan African University, Lagos, entrepreneurship is a key driver of our economy.

Edoho, who specializes in the production of chops, stated that the training program exposed the participants to certain things which they may have taken for granted which at the end of the day may negatively impact on their business

According to her, “the training I received at EDS, Lagos Business School will no doubt impact in the way I do my business. I am very hopeful to be among the last 15 that would be shortlisted for the next level of training by EDS which Diamond Bank is sponsoring in a bid to groom entrepreneurs with the requisite skills which in the tail end will positively impact on their businesses.”