CPPL, Exodus Capital set to enhance profitability of Nigerian SMEs
Customer Passion Point Limited (CPPL) and Exodus Capital have concluded plans to host the 2015 SME growth seminar on Thursday, 26th November.
The seminar themed ‘Taking your business to the next level’ is targeted at integrating the concerns of SME owners and ensuring that the entrepreneurs have a value creation mindset that will enable them grow in profitability.
Ikechukwu Kalu, chief executive officer, CPPL, said : “There are principles with which businesses must operate in challenging seasons. There are business practices that must function excellently for businesses to thrive in tough times. These are of utmost importance for SMEs at this time, more than ever before.”
There are 37 million SMEs in Nigeria, contributing almost 50 percent to the gross domestic product. In countries at same levels of development with Nigeria, SMEs contribute a much higher proportion to GDP. Compared with other emerging markets, Nigeria has historically shown lack of commitment to building a strong SME sector.
With the Nigerian economy currently threatened by the events in the oil sector, its ripple effect on foreign exchange earnings as well as the devaluation of the Naira, the SME sector of the economy is also vulnerable. This sector, which is expected to create jobs, raise value and enhance technology, may not be able to pull its weight under the current circumstances.
Commenting on the seminar, Adebiyi Fajemisin, director of Exodus Capital, said: “Capital, particularly long term capital, is required for business growth. There is a lot of capital available to small businesses but most businesses are not properly positioned to harness them. This seminar will assist participants identify how to begin the process of successfully raising capital for the next level of their businesses.”
The seminar will draw the attention of participants to how to run their businesses well and plan their expansion. The seminar will cover key aspects of the capital raising process and the tools they can utilise to assess investor readiness.
“We believe that this seminar will expand the horizon of SMEs and accelerate their value creation ability so they can compete favourably. A seminar of this nature is long overdue and we can’t wait to see the ripple effect it will create within the sector and the economy at large,” Kalu noted.
To ensure that SMEs are able to attend at the most pocket friendly fees, the organisers are seeking the partnership of organisations that facilitate the operations of SMEs by the very nature of their business. There will be three (3) sponsorship categories for interested partners to choose from in addition to the opportunity to exhibit their products and services at the venue.