Stakeholders Strategise To Widen SMEs’ Involvement In Formal Sector

In a bid to formalise activities of small businesses and widen their contributions to economic growth, stakeholders have sought innovative measures to improve such enterprises’ participation by creating effective linkages.

According to the stakeholders, the Federal Government needs to implement policies that will enhance ease of doing business in order to attract operators in the informal sector to the formal sector.

Speaking at a forum organised by the Small and Medium enterprise Development agency of Nigeria (SMEDAN) and Hudson Group in Lagos, the Director General/Chief Executive Officer, SMEDAN, Dr. Dikko Umaru Radda rallied support for increased funding for the SME sector as well as credit guarantee for start-ups.

Radda, who was represented by the Director, Enterprise Development, Wale Fasanya, noted that the optimality of SMEs in growth clusters can only be achieved when they are intergraded into the broader national developmental plan.

“The present reality of a shrinking macro economy has rippling adverse effect on the development of small and medium enterprise in Nigeria. Many medium enterprises have had their growth stunted suddenly due to poor microeconomic policy.  The fiscal side must retool its tax policy to incubate growth among small and medium enterprises, providing them both incentives and waivers when necessary”, he added.

Vice President, Hudson Group, Tom Iseghohi who is also the Chairman Steering Committee, Enterprise Development Solutions Initiative, advocated active participation of every Nigerian as a stakeholder in developing the economy and achieving desired growth.

Also, the Commissioner for Information, Akwa Ibom State , Charles Udoh, who represented the state government said the state has engaged in enterprise development initiatives by investing in infrastructure needed to enhance industrial growth.

He added that the state is already operating a toothpick factory that has commenced production, and building a pencil factory in the state.

On his part, The Chief Executive Officer, ME Consulting, Victor Eromosele said Nigeria has to improve its balance of trade via exports products and services in order to bring down the exchange rate.

Credit: Guardian

Written by 

One thought on “Stakeholders Strategise To Widen SMEs’ Involvement In Formal Sector”

  1. Hello Web Admin, I noticed that your On-Page SEO is is missing a few factors, for one you do not use all three H tags in your post, also I notice that you are not using bold or italics properly in your SEO optimization. On-Page SEO means more now than ever since the new Google update: Panda. No longer are backlinks and simply pinging or sending out a RSS feed the key to getting Google PageRank or Alexa Rankings, You now NEED On-Page SEO. So what is good On-Page SEO?First your keyword must appear in the title.Then it must appear in the URL.You have to optimize your keyword and make sure that it has a nice keyword density of 3-5% in your article with relevant LSI (Latent Semantic Indexing). Then you should spread all H1,H2,H3 tags in your article.Your Keyword should appear in your first paragraph and in the last sentence of the page. You should have relevant usage of Bold and italics of your keyword.There should be one internal link to a page on your blog and you should have one image with an alt tag that has your keyword….wait there’s even more Now what if i told you there was a simple WordPress plugin that does all the On-Page SEO, and automatically for you? That’s right AUTOMATICALLY, just watch this 4minute video for more information at. Seo Plugin

Leave a Reply