Small And Medium Enterprises (SMEs) stakeholder have urged players in the category of business in Nigeria to open themselves to partnership at all times and stop being selfish but rather, welcome information, and changes in their business.
Regional Micro, Small and Medium Enterprises (MSME), Coordinator, Fidelity bank, Henry Anokwuru, who stated this at the SMEs debates with the theme, ‘SMEs survival Strategies in the Face of Economic Downturn, challenges and Prospects, in Lagos said that SMEs in Nigeria are challenged by poor government policies such as multiple taxation’s, epileptic power supply, among others.
To this, he enjoined them to step above the limitations, saying, “SMEs should make sure that they position their business in the ministry of Multi-national for their business growth.”
Speaking at the occasion, Business Management Consultant, Grace Evbuomwan, stated that all SMEs should go back to their old ways of doing business, which include keeping good records which she said is the most vital in ruining a good SME.
“Keeping good records is a very vital tool for the survival of SMEs because it will enable them give accurate number of their dealings to the bank when asked, and in turn give them access to obtain loans.” She said.
She also urged them to be innovative, and do things different, thereby allowing sustainability and growth in business.
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