The Nigerian-American Chamber of Commerce has identified the key to unlocking Nigeria’s economic growth and development in small and medium enterprises (SMEs).
The Chamber made this known at a recent SME training it organised in Lagos State.
The training which was styled ‘Managing Small and Medium Enterprises: The Essentials for Success’ came as a result of increasing significance and visible impact of entrepreneurship in wealth-creation and employment generation, according to a statement sent to BusinessDay by the Chamber.
“It is well known that micro, small and medium enterprises are key drivers of socio-economic transformation in both developed and developing countries. They are also the most exposed to incapacities and challenges that constrain their operations and growth,” the statement noted.
The Chamber noted that to harness this potential and mitigate challenges, the training focused on financial management, understanding the legal and fiscal environment, accessing incentives and grants; building collaborations and partnerships; creating and sustaining business structure systems and attracting retaining talents. It was attended by startups, small and medium enterprises across sectors of the economy.
“The Nigerian-American Chamber of Commerce will continue to advocate and lend her support to the small and medium enterprises further enhancing the prospects of SMEs in Nigeria.
