Firm to inaugurate digital marketing bootcamp for SMEs

Stakeholder proffers solution to SMEs failure

The Managing Director and Chief Executive Officer of the Port Harcourt Electricity Distribution Company, Dr. Benson Uwheru, has remarked that a well-thought-out business plan is crucial to a company’s success.

He remarked this while criticizing the growth in the number of failed Small and Medium-Sized Enterprises in Nigeria.Information Guide Nigeria

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According to him, proper planning in the pursuit of growth should not be handled with child gloves. While citing figures from the Nigeria Bureau of Statistics indicating that SMEs generate 48% of the national GDP, represent 96% of enterprises, and account for 84% of employment, he bemoaned the fact that 80% of SMEs in the country fail within five years.NYSC portal

To stem the trend, he recommended that business owners seek inspiration from the nation’s largest corporations.

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Uwheru made these demands during the Chartered Institute of Bankers of Nigeria’s 2022 Entrepreneurship Development Programme/Public Presentation of Practice Licence, which took place last week in Lagos.

A statement by the President of the CIBN, Ken Opara, said the Entrepreneurship Development Programme of the Institute was targeted at sharpening the entrepreneurial skills of professional members of the Institute.
According to him, this would enable them to successfully build capacity and win in the business ecosystem including SMEs.

He said, “Public Presentation of the Institute’s Practice License to qualified members is to license them to practice their trade as consultants outside the confines of the banking hall.
“Essentially, the Practice License enables the holders who have acquired robust banking and financial experience to consult and render services in banking, finance, economic, and allied matters to clients.”JAMB Result