SME grants are vital to the success of SMEs in Africa regardless of the size, location, and sector. Although essential, funding can be very challenging to secure for business owners. This is one of the many reasons funding options for SMEs exist – to help SMEs in Africa achieve their business goals and objectives. Are […]
Running a small business in any economy is not for the fainthearted. There are one too many constraints and challenges to circumvent, and the only way to tackle them is to have the right systems in place. At the grass-root level, one of the best systems you can put in place is a solid budget. […]
The primary goal of every business is to make profits. In simple terms, it is the financial gain the business earns after the cost associated with the production products or rendering of their services is subtracted from their revenue. However, when the expenses are greater than the revenue generated, there is a loss. To avoid […]
While we are all striving to return to life, as usual, many businesses have been seriously affected by the pandemic. As such, they require all kinds of support to beat the effects of the pandemic on their economy. One such support is coming from Facebook. Yes, Facebook is providing post-COVID-19 support to small businesses around […]
Businesses face several challenges in today’s ultra-competitive environment. However, lack of funding lies at the forefront. For businesses in developing societies such as Nigeria, this challenge is even more pronounced. It is safe to say that without access to capital, no business can thrive as it plays a crucial role in the establishment, sustenance, and […]
Most SMEs in Nigeria aren’t aware of this, but a business justification is one of the most important documents you will ever produce for your business or idea. It differs from a business strategy. While a good business plan outlines your ideas to give you clarity, your business justification template exists for two main reasons: […]
Different accounting software have been developed over the years to simplify business operations. The larger a business grows, the more accounting problems it is likely to experience. These software help small businesses to save time and resources by creating an automated method of managing finances, payroll and accepting payment. People often wonder why it is […]
It is amazing that with over 37 million SMEs in Nigeria, more than 95% don’t have access to credit. This shouldn’t be so if these SMEs contribute to more than 50% of the Nigerian GDP. No wonder many businesses end up dying within the first few years of operation. The place of capital in running […]
What better time to discuss CBN loans for SMEs in Nigeria than now? Many businesses have been shaken by the effects of COVID-19 and are seeking funds to rebuild. The truth is that even before the pandemic, it has never been easy to raise funds for business purposes. The Central Bank of Nigeria understands the […]
SMEs are the engine house for economic growth all over the world. SMEs account for the majority of businesses globally and are important contributors to job creation and global economic development. They efficiently provide and deliver goods and services to regions where they are needed, create job opportunities, develop their communities, and foster healthy competition […]
