‘SMEs access to information not timely’

Ogunfitimi Oluwabidemi  is an Entrepreneur . He Spoke with Josephine Okojie on what inspired him to become an entrepreneur and how he has been able to overcome major challenges faced by SMEs.

When did you start the business?

The business started in 2012. We are just two years into the business. The organisation is into partnership and training majorly bided wire works, consultancy services in area of accounting and tax.

What made you to start the business?

Passion and the need to add value back to the community that has given to you. There is need to give back to the community and create a solution.

What was your start up capital?

Our capital base was between 200 and 250 as at then. It is a business that requires little capital.

Have you received any external support from any organisation?

No external support, every support has being from the client.

How far would you say the business as grown since stating?

Since i started the business it has being growing slow and steady.

Who are your target clients in the business?

It cut across everybody.

Tell me a little about your background and work experience, if any before starting your business?

I am a graduate of accounting and also certified. I worked with an audit firm and a marketing firm before I decided to start my own business. My experience in the audit firm and marketing company helped me to build “content”. The content increases my reasoning, building, and helped me overcome challenges I have faced in the cause of my business.

What Challenges do you experience in the business and how are you overcoming them?

The greatest challenge I face was breaking into the market. Established organisations have already occupied the business space, so it is difficult for new products to come into the market and get established. This is the major challenge businesses face and as well as high cost of overhead which is as a result of poor power supply.

I was able to overcome this challenge by getting closer to my clients, interacting with them to create a rapor. This helped me come up with services and product that are superior and knowing what the customers want.

I believe in self financing, so I don’t go for loan. It is the kind of business that would determine if there is need for loan. There is need to start little and set the ball rolling before going for a loan.

Do you have employees?

Yes, I have two permanent staffs and the rest are contract staffs. We call them when the need arises.

Please include any other thing you want to add about the business?

There is absence of information for SMEs. When the information comes it is not timely. There is need for a central body that would have the contacts of every SMEs in the country to send them timely information. Most SMEs don’t know where to go for loans if the need for loans arises.

Your advice to other entrepreneurs?

Innovative and they should always think outside the box.