Improvement in vital social services will assist in improving the conditions of Small and Medium Enterprises in Nigeria, particularly in Abia State.
These conditions were identified on the occasion of the 6th Abia State Small and Medium Enterprise Forum held in Umuahia Wednesday.
The conditions that inhibit the existence of SMEs it was identified, include low investment capacity on the part of the SMEs, lack of steady electricity and expensive energy cost, and unstable economic policies.
Others include lack of export incentives, high level of insecurity and low motivation.
Addressing the forum through zoom, an expert business advisor, Mazi Sam Ohuabunwa noted that the condition of the SMEs in Nigeria is being compounded by the image of the country.
However, to remedy the situation, especially in Abia, Mazi Ohuabunwa opined that “there is the need to give capacity (to the SMEs) to narrow the windows for global trade”.
He therefore called for increased capacity for SMEs and other businesses in the state.
Speaking, the Managing Director, Wider Perspectives Ltd, WPL Mrs Edughom Hanson said “SMEs can only grow when expanded to the global and larger community”.
AccordingIy, the President, Umuahia Chamber of Commerce, Industry, Mines and Agriculture, UCCIMA Chief Chidi Nkem-Aruoma explained that the essence of the forum was to bring up the stakeholders together to review the condition of SMEs in the state and to profer solutions to support and aid their development in the state and to a large extent, Nigeria.
In her speech, the Executive Secretary, Nigeria Investment Promotion Council, NIPC Hajiya Saratu, who was represented by her Assistant Director, Okeke Nchege urged relevant authorities to “grow SME capacity before talking about service”, while the Permanent Secretary who represented the state Ministry of SME Development, Nkwachukwu Agomoh described the occasion as a lesson to all, adding that the ease of doing business was practicalized in the state with the establishment of One-Stop-Shop.
He added that one of the problems of SMEs in the state is that of visibility, hence the establishment of SME directory in the state.
