…as Alimosho Emerges New Lagos Business Haven
Small and Medium Scale Enterprises (SME’s) industry has been seen as veritable market, still hugely untapped towards stimulating the economic recovery and growth of Nigeria. As the role of SMEs in economic growth can never be over emphasized in other developed and emerging economies all over the world.
This, stakeholders are optimistic about increased growth by the provision of enabling environment through assess to funds with monitoring measures could tap from opportunities in small and medium scale (SMEs) industries, particularly across the markets towards Nigeria’s economic recovery and eventual growth.
They believe that these sectors are the growth base of the economy, and needs financing, technical know-how etc. to grow and enhance its contribution to job creation and employment and thereby contributing hugely to the gross domestic product (GDP)
Therefore, much is expected as stakeholders in the financing and investment sector and the Alimosho business community interfaces soon, at the 2018 Alimosho SME Forum – “Harnessing & Harmonizing SMEs/MSMEs in Alimosho in Creating New Frontiers for Economy Recovery
The event being organized by Alimosho Mail, is slated for 4th September 2018 at Super Standard Hall of Fame, 60, Idimu Road, Orelope Bus Stop, Egbeda, Lagos.
Abel Lazrus, managing director, Broad Perspective Limited, publishers of The Alimosho Mail, noted that Alimosho within Lagos Sate has always maintained its political position of possibilities as the most populated local government area in Lagos State [with six (6) LCDA’s] with the current estimated population of over 6 million people.
He stated also that, undeniably, a location of daily expanding growing businesses, SMEIS’s, small businesses owners, growing industries, business districts, real estates and viable land mass for investors present a huge opportunity for growth.
For the stakeholders, the opportunities are huge when you consider the number of SMEs, the volume of money exchanging hands in the industry particularly among the market women and men trading in the communities, whose activities need a lot of support in the form of funds and government policies.
The event which is expected to spill over to other sectors such as the insurance sector who could take advantage of these segments of the economy, with the need to come closer to the people, create awareness, present products that match the expectation of customers and the sector will be on the path of growth. The SMEs need to embrace risk management capabilities to grow and sustain their business, and that is where insurance needs to come in, says expert from NEXIM Bank.
“This sector needs financing, but must embrace insurance to de-risk the different financing options available to make progress”. This is the only way to achieve and sustain the desired growth.