Be resilient in economic hardship, SMEDAN urges SMEs
By Mosunmola Ayobami, Ilorin
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has advised prospective small and medium-scale enterprise (SME) owners to ensure proper planning to guarantee their businesses’ success.
The agency also urged existing SMEs in the country to remain resilient in the face of current economic hardships, assuring them that they will overcome the challenges.
Mrs. Adava Ometere, SMEDAN’s Administrative Officer in Kwara State, made this statement during a lecture at a seminar organized by the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ), Kwara State Council, as part of activities marking its 2024 Annual Press Week.
She noted that SMEs in Nigeria contribute 46.31% to the nation’s GDP and over 6% to the country’s exports, highlighting these figures as strong indications that they are performing well despite the economic challenges.
“SMEs in Nigeria should remain resilient. They shouldn’t give up or close down due to the current economic hardship. They will overcome it,” she said.
The SMEDAN official urged existing businesses to leverage various federal government interventions to grow their businesses by ensuring proper packaging and branding of their products and services.
“If you want to succeed in any business today, it must be well-planned. Many businesses that existed for five years eventually closed because they were not properly planned,” she said.
She further advised practicing journalists in Nigeria to explore opportunities within their profession to establish personal businesses.
“As journalists, one of the ways you can own a business is by strengthening your online presence. It’s important to maximize online platforms and be creative with what you do. You can carve out a niche.”
She encouraged journalists to consider developing their personal brand, creating sponsored content, and offering paid services in areas such as media training, writing, or social media strategy through consultations or workshops.
