Prince Rotimi Ogunleye, Commissioner for Commerce, Industry and Cooperatives LAGOS State is the hub of micro, small and medium enterprises (MSMEs) in the west coast, with a concentration of 3,224,324 micro operators and over 11, 663 SME operators, Prince Rotimi Ogunleye, Commissioner for Commerce, Industry and Cooperatives, has declared. He made the declaration at the 2nd Lagos State Micro, Small and Medium Enterprises Exclusive Fair.  Ogunleye stated: “It is a fact that Lagos State is the hub of the largest concentration of MSMEs. We have 3,224,324 micro operators and over 11, 663 SME operators. They are all contributing to boosting the Gross Domestic Product (GDP) of the nation, generating employment and creating sustainable entrepreneurship. Thereby, they add value to our move towards industrialization.” The commissioner however lamented that in spite of the importance of MSMEs, they have not been able to expand the frontiers of their market, noting that the fair evolv...

As we all know social media has become an important tool for brand awareness and customer acquisition. Different brands have different challenges. Finding new customers is an important aspect of any business whether the business is new or old. Nowadays, social selling, social networks have increased and has turned into some of the valuable channels for attracting new customers. Social media has become one of the great distribution channels for the promotion of products or services. Before finding new customers on social media, be sure that all of your social media profiles are set up properly. Always try to tailor your strategy in a way that makes sense for your brand. There are few universal ways to help your company to attract new faces on the social media. Take a look at the following ways you can use social networking websites to find new customers or clients. Referral traffic through friend invite Using friend invites has become one of the new tricks to increase custo...

Starting a business might be very easy but the hardest part is sustaining the business. It is not enough to start up a business, it is sustaining the business that matters most. I’m going to share with us how we can easily and sweatlessly run down our business and blame the devil. 1. Avoid record keeping. Make sure that everything that comes in goes out immediately without proper accountability and record keeping. 2. Don’t employ experts rather, employ your relatives. Make your relative manager even if he/she knows little or nothing about your business. 3. Avoid being on seat. If, as the CEO each time someone calls your office, let it be that you are not on seat. And God help you one day they will really unseat you. 4. Start dating your workers or staff. Make sure you descend so low to the point of dating even your secretary. 5. Avoid reading and personal development. Spend quality time watching Zee world instead of investing same time into reading and improving your min...

The United Nations Industrial Development Organisation’s (UNIDO)’s Investment and Technology Promotion Office (ITPO) said it is set to equip Small and Medium Enterprises (SMEs) in Nigeria with its Computer Model for Feasibility Analysis and Reporting (COMFAR) tools and methodologies for project appraisal. Chief Technical Adviser, UNIDO-ITPO, Mr. Stanislaw Pigon, said that lack of access to funds was not the only factor hindering the growth of the SME sector, but that operators’ inability to present a proper accounting system was a major issue. COMFAR is a software that facilitates short and long-term analyses of financial and economic consequences for industrial and non-industrial projects. The innovation, which is accompanied by manuals, teaching materials and interlinked software for project identification and preparation, also offers specialised modules on Clean Development Mechanism and on Environmental Management Accounting, among others. Pigon said, “with the app, SME ...

Diamond Bank Plc has set the stage for the selection, training and empowerment of 50 more entrepreneurs in the seventh edition of its Building Entrepreneurs Today (BET) initiative. This initiative, which is in partnership with the Enterprise Development Center of the Pan Atlantic University, is at the core of the bank’s corporate social responsibility strategy, and is aimed at creating a new generation of entrepreneurs who will not be overwhelmed by the challenges posed by the harsh operating business environment but will, with the training and seed capital from the bank, provide the needed value to the economy. This year’s edition with the theme: Innovation and Social Impact, is focused on entrepreneurs in all sectors of the economy with entries expected from all the geographical zones in Nigeria. Speaking at a press conference to kick-start the 7thedition of BET initiative, Chioma Afe, Head, Corporate Communications of the bank, said the programme is in line with the bank’s ...

Lucky Fibers Plc, manufacturers of Nobel Carpets, in partnership with Prime Women Builders Foundation of Nigeria (PWOBFON) is organizing a vocational training for upcoming entrepreneurs on how to effectively run their businesses in order to reach their full potential. Mr. Jitesh Pamnani, General Manager, Lucky Fibers, said Nobel Carpets is co-hosting the initiative in order to provide valuable business information and support to the participants. He said: “This event is being organised to equip participants with basic, yet necessary skills and relevant equipment to be self reliant and also provide the necessary support in becoming business owners in their various communities. This year, the PWOBFON empowerment objectives will focus on ways out of the country’s current economic recession with vocational trainings in event management, cake and pastries making, wire works, bead making, make up and Gele, tailoring, ICT and so on.” “Women are major catalyst in today’s business ...

The British High Commission is pleased to inform you that applications for the Queens Young leaders Programme is currently open. The Queen’s Young Leaders Programme is established  by The Queen Elizabeth Diamond Jubilee Trust in partnership with Comic Relief, The Royal Commonwealth Society and the University of Cambridge’s Institute of Continuing Education. This programme is  in honour of Her Majesty The Queen’s lifetime of service to the Commonwealth. The Programme aims to discover, celebrate and support young people aged between 18 – 29 from every Commonwealth nation, who are leading the way in transforming their own lives and the lives of those around them. Each year, Awards are given to young people aged between 18 – 29 from across the Commonwealth who have proved themselves to be exceptional and inspiring leaders in their communities. As part of the Award, winners receive one-to-one mentoring support, remote learning provided by the University of Cambridge and th...