The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says equipping small businesses with the necessary skills and resources is crucial for achieving sustainable development in the country.
The Director-General of SMEDAN, Mr Charles Odii, said this on the sidelines of the just concluded 2024 National Micro Small and Medium Enterprises (MSME) conference in Abuja.
Odii told the News Agency of Nigeria (NAN) that there was a pressing need for capacity development within the MSME ecosystem.
He said that while financial resources were available through various banking institutions, many small businesses struggled to access these funds due to a lack of training and proper business decisions.
“Access to finance alone is not sufficient. We must focus on empowering entrepreneurs with the skills needed to start, scale, and effectively manage their businesses.
“To address this gap, SMEDAN is inaugurating a comprehensive initiative that involves training 1,000 business development service providers.
“These trained professionals will be deployed across all 774 local government areas in Nigeria, ensuring that each area has at least one representative dedicated to educating small business owners.
“The training will cover critical topics such as business planning, market access, and growth strategies,” he said.
The director-general reiterated the commitment of the government to fostering an environment where small businesses can thrive independently.
“We are leveraging technology and collaborative clusters to create a supportive network.
” Entrepreneurs are encouraged to join cooperatives and associations that can enhance their access to resources and mentorship.
“SMEDAN is enhancing its online presence, making all its products and programmes accessible through its website.
“This initiative aims to streamline applications and facilitate participation across the 36 states and the Federal Capital Territory,”he said.
Odii urged small businesses to take advantage of these opportunities, emphasising that with the right support, they can transform into larger businesses.
“Equipping our small businesses is the key to unlocking their full potential and driving sustainable development in Nigeria,” he said.
Meanwhile, some entrepreneurs told NAN that the event presented an avenue to showcase their products to the world and boost their business presence.
The Founder, Negs Empire, Ezinne Nwakuba said that small businesses needed brand visibility, adding that the event was an opportunity to get that.
Also, the Co-Founder and Chief Executive Officer of 5 :14 Creative Agency, Zion Osayande, commended efforts of SMEDAN in empowering small businesses.
Osayande acknowledged the implementation of some of the initiatives of the agency which many small MSMEs had benefited from.
“I think in the very near future we will have so many different testimonials of beneficiaries of these plans , so I will say it is definitely a bright one.,” she said.
For Rukaya Bashir, the Founder of Rawbeauty Skincare product, lack of trust by Nigerians for locally produced goods remains a major challenge for entrepreneurs, thus the need for change in mindset.
NAN reports that one of the high points of the SMEDAN conference was a pitching competition by 10 contenders, where Uzo Igweike of LoomCraft Chocolate emerges as winner.
By Lucy Ogalue, NEWS AGENCY OF NIGERIA