Financial experts, scholars, Chief Executive Officer’s and investors have urge owners of Small and Medium Enterprises (SMEs) in the Southeast and other parts of Nigeria to leverage opportunities in the nation’s capital market.
Angel Network News (ANN) reports that
the call was made during a two-day conference organized by the Nnamdi Azikiwe University, Centre for Capital Market Studies (UCCMS), in collaboration with the Securities and Exchange Commission (SEC), held at the UNIZIK
ASUU Secretariat, Awka.
Speaking on the theme: ” The implications of the ISA 2025 for SME’s and capital market operators” Mrs. Hafsat Rufai, Mr. Onyedikachi Edeh, Mr. Daniel Bell-gam, Mr. Daniel Okonji and Mr. David Fajuyitan, spoke on business continuity, lamenting a high number of business that collapse because of the death of the owners.
They maintained that financial disciple, accountability and keeping records are vital determinants that will motivate and attract investors to assist SME’s grow their business, noting that the capital market is not just for billionaires but a platform connecting small business owners with investors and long-term funding opportunities.
The discussants urged Micro, Small, and Medium Enterprises (MSMEs) to explore capital market instruments.
“SMEs are the backbone of the economy, driving job creation, innovation, and productivity. Yet, inadequate funding continues to limit their full contribution to national development”. Edeh said.
On his part, Mr. Stanley Anaagbaso, while speaking on “The SME’s bridge to the capital market: embedding coperate governance in business continuity strategy for resilience”, described SMEs as the lifeblood and silent drivers of Nigeria’s economy.
In their separate contributions, a lecturer in Unizik, Dr. Valentine Ekechukwu, Mrs. Simnom Garba and Dr. Graham Omenka, emphasized on intergrity as a major tool for businesses to strive. They revealed that business attitude, confidence and trust is the kay in strengthening the growth of businesses.
The financial experts, called on SME’s to be more trust worthy, transpirent and accountable in order to attract investors. They called for dirction, control and strategy.
Discussing on “Financing SME Growth: unlocking opportunities through capital market instrument” the CEO, Dantown Technologies, Mr. Chimene Chinah, and Mr. Chukwuemeka Ezike uged SME’s to listen to policy makers and collaborate.
Chinah and Ezike enouraged SME’s to build health relationships and take advantages that are avaliable. They
expressed concern that many SMEs remain unaware of the capital market’s potential as a funding source.
Also speaking, Prof. Chris Kalu, Prof. Charles Onugu, Prof. Collins Nwogwugwu and Prof. Promise Chika Oparah while speaking on “Understanding the business environment”, lamented that despite employing over 80 percent of the workforce and contributing nearly half of Nigeria’s GDP, SMEs still suffer a severe financing gap.
The Versity Dons also spoke on the capital market and opportunities for Nigeria business, federal government policy on SME’s in Nigeria, political factors affecting business and key challenges to consider.
They blamed this on high interest rates, stringent collateral requirements, and short repayment tenors, which force many entrepreneurs to rely on personal savings and informal loans, keeping them at a subsistence level.
The conference attracted policymakers, academics, regulators, investors, and entrepreneurs from Anambra, the Southeast, and beyond.
