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SMEs engine of growth, says group

SMEs engine of growth, says group

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The Aspen Network of Development Entrepreneurs (ANDE) has identified Small and Growing Businesses (SGBs) in emerging markets as key drivers of the economy.

The group said it is committed to supporting emerging market entrepreneurship because small and growing businesses could bridge the gaps of emerging economies, especially in Nigeria.

As part of its objectives to identify relevant ecosystem actors in various cities, ANDE, with support from the Department for International Development (DFID), is mapping the entrepreneurial ecosystems in Ibadan and Port Harcourt.

This is to understand the gaps and opportunities peculiar to the cities that can be addressed through specific interventions.

To achieve this, survey distribution and stakeholder feedback meetings have been adopted to get detailed information required to map the Ibadan and Port Harcourt entrepreneurial ecosystems.

According to a statement made available to reporters at the end of the stakeholders’ meeting, the meetings in Ibadan and Port Harcourt brought together capacity development providers, business development support and government officials in the two cities.

The participants were presented with the initial findings from the ecosystem survey; they expressed their opinions on the status.

Poor business skills among SGBs, low levels of philanthropy, low levels of collaboration between actors, concentration on the oil and gas sectors and negligence of other sectors, among other things, were identified by the stakeholders as the key challenges of the SGBs’ support organisations in the Port Harcourt entrepreneurship ecosystem.

 

The post SMEs engine of growth, says group appeared first on The Nation Nigeria.

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