Different accounting software have been developed over the years to simplify business operations. The larger a business grows, the more accounting problems it is likely to experience. These software help small businesses to save time and resources by creating an automated method of managing finances, payroll and accepting payment. People often wonder why it is […]
It is amazing that with over 37 million SMEs in Nigeria, more than 95% don’t have access to credit. This shouldn’t be so if these SMEs contribute to more than 50% of the Nigerian GDP. No wonder many businesses end up dying within the first few years of operation. The place of capital in running […]
What better time to discuss CBN loans for SMEs in Nigeria than now? Many businesses have been shaken by the effects of COVID-19 and are seeking funds to rebuild. The truth is that even before the pandemic, it has never been easy to raise funds for business purposes. The Central Bank of Nigeria understands the […]
SMEs are the engine house for economic growth all over the world. SMEs account for the majority of businesses globally and are important contributors to job creation and global economic development. They efficiently provide and deliver goods and services to regions where they are needed, create job opportunities, develop their communities, and foster healthy competition […]
Many people dream of owning an SME in Nigeria and it’s not a bad idea to aspire to, considering that there are over 37 million SMEs in Nigeria. The truth is that the idea of starting a new business can be daunting. But by splitting the process into steps, it becomes easier to take the […]
There are two major ways businesses get funding, equity and loans. The Federal Government of Nigeria has made efforts to create a favourable climate for SMEs in Nigeria. It is doing this through several Government SME intervention funds. From Federal Government loans for small businesses in Nigeria to CBN intervention funds, the government has set […]
Many business owners in Nigeria don’t know that they are more than just entrepreneurs. Every entrepreneur doubles as an investor. This means that since we have more than 37.07 million SMEs in Nigeria, we have about the same number of small business investors. Imagine that this number of SME owners understood how to invest in […]
For most SMEs in Nigeria, the issue of finance is one of the most important aspects. Not only is it important, but it can also be a very challenging one. To finance your small business in Nigeria, the first option that might come to mind will most likely be loans. However, this is not the […]
At every single stage of a business, adequate capital is required to foster growth. Where capital isn’t available or inadequate, businesses die. This in return is really harmful for the development of the economy. In a bid to curb the lack of access to required capital for small and medium businesses (SME), The DBN loan […]
Research has shown that one of the major causes of failures for SMEs is lack of funding. Many entrepreneurs are being faced with financial challenges in the early phase of their businesses; this is why different intervention funds in Nigeria have been set up. Most of these intervention funds in Nigeria are granted to the […]
