The Enterprise Development Centre (EDC)- Pan-Atlantic University has urged the government agencies and other stakeholders in the Small and Medium Enterprises (SMEs) ecosystem to design a sustainable template that would ensure a resilience SME system in Nigeria are built to withstand an uncertain future and remain successful to contribute to the economy.
The charge was made during the 2024 EDC SMEs conference at the Global Entrepreneurship Week 2024 in Lagos recently.
Speaking to the theme: ‘Building Resilience in Times of Uncertainty Future – Forward Strategy’, Dr. Nneka Okekearu, Director, EDC said, “Stakeholders must come together to design a winnable template that could see SMEs in the country become the real engine room of the economy.”
She said, “We have to help support SME in this difficult economy. It is obvious to everyone the time we are in business wise and to successfully move out of the difficult times and prevent an uncertain future government, government agencies, private institutions and entrepreneurs must work together to design a forward strategy that is sustainable for SMEs.”
Dr. Okekearu, however, applauded Access Bank, Providus Bank, Mastercard Foundation and other partners for partnering with EDC to advance sustainable programmes for the growth of SMEs in Nigeria.
“We must applaud Access Bank, Providus Bank and other institutions that have genuinely supported the industry in these past years. We, therefore, called on others to embrace these initiatives and join EDC to advocate a sustainable SMEs ecosystem.”
The broadcast journalist and ARIE TV host, Mr Rufai Oseni charged the government to work with the private sector to support SMEs.
“It is important for the government to work with the private sector to support SMEs because businesses and SMEs cannot thrive without the support of the government especially in this current challenging economy,” he added.
He lauded the Enterprise Development Centre for the wonderful work they are doing for SMEs.
The Head, Non-Financial Services, Emerging Businesses at Access Bank, Mrs Chioma Ogwo said that Access Bank is proud to support SMEs and businesses particularly with its partnership with EDC.
“We at Access Bank are open to helping businesses to thrive especially, SMEs and this conference is an opportunity for us to learn new strategies on how to be more resilient in times of uncertainty which can help us navigate any obstacles,” she added.
Founder, AI Council, Kate Hancock who spoke virtually on the importance of using Artificial Intelligence (AI) and data, encouraged SMEs to embrace the use of technology which could be a game changer in solving problems during difficult periods in business.
According to her; “The importance of using AI and data in finding solutions in business cannot be over-emphasized and they can use data to their advantage in solving problems particularly at the startup period.”
“It is important for us as entrepreneurs to build resilience in times of uncertainty and use data and AI to our advantage in starting up businesses. We need to be determined with a resilient mindset and have a vision towards achieving our goals,” she added.
