Sterling Bank Plc has resolved to invest in new business initiatives and nurture them to become viable Small and Medium Enterprises (SMEs) as part of efforts to facilitate real growth in the Nigerian economy.
The bank said small businesses remain the catalyst for real economic development anywhere in the world.
The Bank’s Group Head, Strategy & Communications, Shina Atilola in a statement explained that national economic development prospects in any country was hinged on the entrepreneurial energy of vibrant SMEs as most big business concerns grew from small scale to become big icons.
Atilola declared: “Many economies, developed and developing have come to realize the value of small businesses. They are seen to be characterized by dynamism, witty innovations and efficiency; as their small size allows for faster decision making process. Small businesses are believed to be the engine room for the development of any economy because they form the bulk of business activities in a growing economy like that of Nigeria.”
He noted that a team of seasoned consultants were engaged by the bank to carefully scrutinize proposals received from members of the public.
The head, strategy and communication said the bank decided to launch the project in order to support those who have come up with business plans as part of their new year engagement’.
Already 50 contestants have qualified for the second round of the on-going “Meet the Executive” Project sponsored by Sterling Bank Plc.
