The Anambra State Chapter of NASME, Nigerian Association of Small and Medium Enterprises (NASME) has partnered with NIRSAL Micro Finance Bank Awka Branch to sensitize Micro, Small and Medium Enterprises (MSMEs) on the need to have financial plans and keep proper financial records for their Businesses.
The NIRSAL team led by Mr Chidozie Felix explained to Anambra Entrepreneurs the need to do a proposed financial analysis and make their businesses attractive for financial assistance and investors.
“MSMEs need to critically study their businesses so as to cut unnecessary financial expenses and cut operational cost where necessary,” he reiterated.
Accessible Packages
He also outlined some of the packages the Bank has for MSMEs to include the Agri-Business Small and Medium Enterprise Investment Scheme AGMEIS, and the Interest Draw back program for farmers and those withinn the Agriculture Value Chain, and the specific facility for petty traders that gives market women and traders loans ranging from N50,000 – N300,000 amongst other packages aimed at helping MSMEs to develop and grow their businesses.
In his key note address,the State Chairman of NASME in Anambra Mr Chinemerem Oguegbe explained the need for Business Owners to improve themselves through capacity building trainings and attending SME clinics that will help in identifying the various setbacks that hinders the growth of their businesses.
Challenges to MSMEs growth
Chinemerem said despite finances being a major challenge for growth of most MSMEs that Business Owners should also consider other factors that also hinder the growth of MSMEs.
“Lack of growth strategy, market strategy and lack of operational framework are some of the challenges and I pledge that Anambra NASME will partner with relevant Business Development Consultants to ensure effective Business Diagnosis for MSMEs in the state,” he stated.
Entrepreneurs within the Agricultural sector, fashion designers, manufacturing industry and Service Industry all attended this month’s SME clinic.
Lateefah Ibrahim
