THE IMPACT OF SME’S

Dear Subscriber,

From the roadside salon that engages five stylists to the trendy tech startup that has fifteen staff on its payroll or the manufacturer that has hundreds of causal workers, the SME sector remains the highest employer of labour and hence the lifeblood of the economy. Statistics also show that at least 50% of these business ventures fail within the first five years. 

A major hindrance to the growth of this critical sector is defective business processes and lack of corporate governance. This is especially true in a developing country where entrepreneurs find it difficult to separate managerial/founder rights and cash-flow which creates a disincentive for growth. 

The average Entrepreneur is brimming with ideas and creativity but lacks the ability to develop sound business processes and implement corporate governance principles which ultimately propels the business to join the failure statistics. 

Over the years, our firm has deployed a lot of energy into entrepreneurial literacy and promotion of corporate governance which informs our resolve to participate in the establishment of “The Enterprise Zone” which is a private sector initiative to support the ambitions of entrepreneurs and with the goal of mentoring 1000 businesses by the year 2023. 

This initiative will be birthed at the launch of the book “Essays on Nigerian Business Law” holding on Wednesday 19th December 2019 at WestWood Hotel, Awolowo Way,  Ikoyi Lagos between the hours of 11am-2pm. 

A number of signed copies of the book will be available for purchase at launch price during the event and proceeds will be donated to ‘The Enterprise Zone”.