Entrepreneurs Seek Enabling Environment to Thrive

Stakeholders and small business owners have called on government to put in place sustainable policies targeted at small businesses in Nigeria to grow. They identified poor electricity supply, taxation and unfriendly business demands from officials of government officials as parts of challenges inhibiting the growth and contributions of small businesses which they describe as the engine of Nigeria’s economic survival.

Global Chairman, NIFESAF, Fred Nnadike stated this at the fourth edition of NIFESAF business and career expo 2024 at the weekend in Lagos.

It was organised by the Lagos chapter of the association where locally made goods are displayed and industrialization is encouraged.

He said, “Today is business and career exhibition. Lagos chapter has been doing this for over four years. The essence is that we feel we need to do this to support our economy, support small businesses and support job seekers as well as employers to be able to get the right employees to employ.

“SMEs need enabling environment to be able to thrive in whatever we are doing. There are things we can do for ourselves and there are things we cannot. If we have stable power, the cost of production becomes relatively cheaper for SMEs operators and manufacturers here.”

“The grants will help business owners to actualise the dream of expanding their business for export and make Nigeria’s economy a better one. That is where we need the help of government.

“What our association is doing is to promote and encourage local production. We encourage SMEs because they are responsible to a large extent the economic growth of any nation. If you take away the SMEs, the system would collapse as government cannot employ everyone, government cannot do everything for everyone.

Also speaking at the event, Chairman, NIFESAF, Lagos chapter, Iyke-Henry Nnadike said the organisation believed that small businesses require maximum support to achieve both the short and long term economic growth and development government has been yearning for.

He said: “In Nigeria, we have this program organised to send a signal to the government that SMEs require maximum support in terms of policies that are favourable for SMEs to thrive and grow the economy since they are the engine room for economic growth. In the aspect of tax, you’ll discover many small businesses are struggling because of high taxation.”

He noted that SMEs tax rebate will go a long way to help coupled with a conducive environment for them to operate.

He added: “I also want government to look in the direction of energy. Most of the struggle SMEs are having in this nation is poor electricity supply. There is no electricity supply for small businesses to operate effectively and efficiently. And this so discouraging and frustrating. If the government can put sustainable policies in place, see to tax issue and significant improvement in electricity supply, economy will pick and businesses will perform optimally.

“Recent analysis shows that most of employment are being done by SMEs in the economy than other sectors. Policies targeted at promoting sustainable SMEs will go a long way in jump starting the economy and reduce unemployment in our nation.

Vice Chairman, NIFESAF, Lagos chapter, and Chairman, Planning Committee for Economic and Career Expo 2024, Mrs Chika Idala Alison disclosed that what attract small business owners to the association is that they are poised and out to partner and collaborate with government to see how “we can have the economic challenge that is eating deep into the society not just reduced but get to the point of elimination. We’ve tried creating this unique platform  where we can nurture, raise, grow SMEs.

“We need to build Nigeria. NIFESAF is out to build SMEs to grow, nurture and stabilise and sustain the businesses. That’s the platform we are showcasing and giving today.

She advised government at the centre and sub-national to take seriously and  improve on human capacity development and promote skill acquisition.

“In addition to education, let government encourage citizens acquire a skill. NIFESAF is here to partner with the government, we are available and ready to collaborate with government because they can’t do it alone. The world is waiting for Nigeria.

Founder, Farmskills Ltd, Bayo Yusuf, an entrepreneur and agric consultant narrated his frustrating experience at a government parastatal, lamenting that some of them are not out to help business growth.

“As an SME operator, there is a lot federal government needs to do that they are not doing. I went to do nutrition analysis in Fexeral Insritute of Industrial Research Oshodi (FIORO), a government parastatal. I would have expected a situation where they want to encourage SMEs. Now, no one is asking me to do the nutrition analysis, I just wanted to do it to convince my customers. I want to take my products to supermarket. Now, it’s very expensive for an SME. I was informed it would take weeks for my result to be release on the excuse of when electricity supply improves.”

According to him, government won’t help SMEs in Nigeria, if they don’t come to terms with the problems and challenges that small businesses face in the countey. He added, “I’ve been in this business for almost 20 years trying to survive in Nigeria because I don’t believe in Japa syndrome. I want to see what will be my contribution to the economy. Government needs to go beyond the lip service. The agencies government is running are not performing optimally and it is so much becoming of a disappointed and a burden to most business owners.

NIFESAF is an acronym for Nigeria Fellowship of Evangelical Students Associate Fellowship