SMEs - Business Metrics

Ecobank to empower 100,000 entrepreneurs with SME agency banking campaign

Dec 1, 2020 Banjo Olaniran

Ecobank Nigeria has launched Smart Small And Medium Enterprise (SME) Agency Banking campaign targeted at empowering 100,000 entrepreneurs under the Ecobank SME and Agency Banking proposition. Emeka Agada, head of SME, Ecobank Nigeria, said the initiative was introduced in line with the bank’s commitment to support the Federal Government and Central Bank of Nigeria’s (CBN’s) vision for financial inclusion across the country. Aside improving financial inclusion, he said the campaign also aims to create self-employment for new entrepreneurs and help diversify income streams of existing small businesses across Nigeria. Agada…

Organisers unveil lead discussants at MSME Dialogue 2.0

Nov 22, 2020 Banjo Olaniran

Organisers unveil lead discussants at MSME Dialogue 2.0MSME Africa, the organizers of MSME Dialogue 2.0 has released the names of top speakers to lead dialogue at the virtual event targeted at Micro, Small and Medium Enterprises (MSMES) across Africa. According to a press statement by the organizers, Onyeka Akumah, the founder and CEO of Farmcrowdy, as well as Olagoke Balogun, the Co-founder and CEO of So Fresh, are scheduled to speak at the second edition of MSME Dialogue which will slated for Saturday, November 28,2020 at 10 am. “Other speakers…

How Small Business Can Boost Sales on Black Friday

Nov 21, 2020 Business Metrics

By David Along _______________ What is Black Friday? A brief origin of the event can help to understand why sales promotions and deals are usually flying around the traditional media and digital media during this period of the year. Black Friday is a day after United States Thanksgiving, the fourth Thursday in November, an event that showers the commencement of Christmas holidays and shopping season dated back to 1952. During this period, people turn out for Thanksgiving – families, friends, associates and community members have their time to come together…

APPLY: Pop Central launches N388m worth Ad Grant to support Nigerian SMEs

Nov 16, 2020Nov 16, 2020 Banjo Olaniran

Pop Central, the fastest-growing media platform in Nigeria focused on a young audience demographic has launched the SME Ad Grant with N388 million estimated value. The SME Ad Grant is an initiative that will avail small businesses the opportunity of free exposure on live television, the company said in a recent press statement. The media platform is giving verified Small and Medium Enterprises (SMEs) in Nigeria millions of Naira worth of free advert grants via its station, Pop Central TV, DStv channel 189. The grant to the SMEs will act as boosts to enable…

UK loses £20bn as Brexit, COVID-19 halt 1.5 SMEs from Int’l trade

Nov 11, 2020 Omobayo Azeez

Over 1.5 million UK SMEs have stopped trading internationally this year which could cost the UK £20 billion, due to the impacts of COVID-19 and uncertainty around Brexit. New research released by British fintech, Currensea, reveals that of the 80 per cent of British SMEs (4.72 million businesses) that trade internationally in any given year, 1.18 million have had to pause directly because of the global pandemic and a further 283,000 because of Brexit. In the new report, Currensea described the development as a significant loss for SMEs as international…

REGISTER: FirstBank hosts SME Webinar on rebuilding small businesses November 10

Nov 9, 2020Nov 9, 2020 Omobayo Azeez

First Bank of Nigeria Limited is set host an SME webinar themed “Rebuilding your Business” by 10am on Tuesday, 10 November 2020 via Zoom meetings. The event is organised in collaboration with FBN Insurance Brokers and FBN Quest with its discussants including: Tunde Owolabi, group executive, retail banking (Lagos & West), FirstBank; Olumide Ibidapo, MD/CEO FBNInsurance Brokers and Ijeoma Agboti, managing director, FBNQuest Funds. The financial institution said in a statement that as a brand committed to putting its stakeholders first, it has designed the webinar to empower the participants and…

7 mistakes startups should avoid in their early stages

Nov 5, 2020Nov 5, 2020 Business Metrics

Starting a business is good, but sustaining the business to profitability is the hardest albeit most rewarding part of the business endeavour. The early stage of SME forms the foundational structure the development and achievement of the startup. As a matter of fact, findings show that about 20% of small businesses fail in their first year, 30% in their second year, and 50% after five years in business. While in Nigeria, the most populous country in Africa, about 80% small businesses fail within the first 5 years, amounting to 1 in…

Be among 250,000 SMEs to get free business name registration by CAC

Oct 28, 2020 Business Metrics

IFC Disburses $50m Loan To Nigerian SMEs Affected By Pandemic

President Muhamadu Buhari has approved free business name registration with the Corporate Affairs Commission (CAC) for 250,000 businesses across the nation. This was announced on Tuesday evening by Bashir Ahmed, the new media aide to the President, announced the development through his Twitter handle. “President Buhari has approved free business names’ registration for 250k MSMEs nationwide; according to the CAC, 6,606 names in each of the 34 states, Abuja will have 7,906, Lagos 9,084 & Kano 8,406,” he tweeted. “The free registration commences today, visit http://cac.gov.ng for details” he added.…

FG now paying 108,108 artisans in FCT, 11 states N30,000 survival funds

Oct 28, 2020 Banjo Olaniran

Buhari set to sign N13.58trn 2021 budget

The Federal Government has commenced the disbursement of N30,000 one-time grant to 330,000 artisans across the country. The grant was launched across Lagos, Kano, Abuja and nine other states, as the first batch which amounts to 108,108 beneficiaries from the 11 states and FCT with 9,009 from each state, a statement from the office of the Vice President Yemi Osibajo has reportedly announced. The information was however conveyed to the public on Tuesday evening via the official Twitter handle of Bashir Ahmad, the personal assistant to President Muhammadu Buhari on…

Access Bank announces N50 billion interest-free loan for small businesses

Oct 25, 2020 Omobayo Azeez

Access Bank has announced N50 billion in support of Nigerians through interest-free loans and grants to support communities, the youths as well as micro, small and medium-sized businesses. The bank disclosed this through its official LinkedIn page. It said the move was to support businesses following the crippling COVID-19 lockdown as well as the looting and arson that trailed the #ENDSARS protests. According to the bank; “Now more than ever, we remain committed to our purpose of impacting lives positively. ” In light of the recent occurrences, we will be…