SME CONFERENCE 2018
SME SUSTAINABILITY & GROWTH CONFERENCE 2018
27 June 2018 was the first official United Nations’ observance of the Micro-, Small and Medium-sized Enterprises Day. On this day, UN celebrated the contributions of Micro, Small and Medium-sized Enterprises (MSMEs) as key drivers and backbone of many economies worldwide, especially in developing countries. MSMEs are first responders to societal needs and they drive inclusive growth and development.
To mark this day, TACT held the SME Sustainability & Growth Conference, with the theme SME Formalization & Financing at the Zone Tech Park, Plot 9, Gbagada Industrial Scheme, Lagos. 72 SMEs attended the event.
The SME Sustainability & Growth Conference facilitated a much needed conversation between government and solution providers in banking, development finance, business consultants, and SMEs, to foster collaboration and growth.
The event provided an opportunity for
- Engagement between policy-makers and SMEs on challenges and required interventions
- Development Finance Institutions to enlighten SMEs on accessing their financing windows
- Development Partners & Consulting firms to train SMEs on formalization and sustainable business practices that enhance survival and growth
- Investors and donors to publicize capital funding and grand opportunities to SMEs
- Commercial Financial Institutions to showcase affordable financial services to SMEs
SPEAKERS & PANELISTS:
MSMEs are a major force for poverty alleviation as they represent a larger share of employment in rural areas and for the vulnerable, such as women, youth, and people from poorer households. They are an important element in the implementation of Sustainable Development Goals 8 (decent work and economic growth) and 9 (industry, innovation and infrastructure). It is for these reasons that the day is set aside by the UN to raise public awareness about MSMEs’ contribution to development.
MSMEs are of critical importance in Nigeria’s development context. They contribute approximately 48.47% of GDP and employ over 84% of Nigeria’s workforce (SMEDAN/NBS, 2013), but they also face many challenges for sustainability and growth.
Access to finance is often cited as a primary obstacle to SMEs; a large proportion of formal SMEs do not have access to loans, while informal ones have more difficulty accessing basic financial services. Thus, opportunities exist for financial services providers and policy makers to intervene for resource mobilization and allocation, and development support in the sector. This would help buoy job creation, economic growth, and social development.
Participating institutions include Lagos Business School’s Sustainability Centre, Enterprise Development Centre, PwC Nigeria, What Now, Coach?, Central Bank of Nigeria, Bank of Industry, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Lagos State Employment Trust Fund (LSETF), Fate Foundation, Tony Elumelu Foundation, and Workforce Group.
Founders of Lifebank and Flying Doctors Nigeria were also at the conference to share their experiences as entrepreneurs.The conference was an opportunity for an important conversation between SME ecosystem stakeholders.
Preparation is already on for the 2019 edition of the conference.
For participation and sponsorship information, send us an email at email@example.com. Or call 0812 551 8612.