Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Dikko Radda has said that relevant information is key to business survival and growth.
Radda who said this at an event to mark “MSMEs Day 2018: The Youth Dimension’’ in Abuja emphasised that the active participation of youths in Micro, Small and Medium Enterprises will enhance Nigeria’s economic development.
The Day centered on “Youth Entrepreneurship and Youth Employment’’, was intended bring to the fore-front, the strong contributions of businesses worldwide to livelihoods, communities and economies, raising the crucial need to support MSMEs to make them more competitive.
June 27 of every year has been set aside by the United Nations to mark the beauty and contributions of MSMEs globally.
The occasion provided a platform and a unique opportunity for discussions on the importance of MSMEs in youth employment as well as creates awareness on the skills needed by youths to acquire decent jobs.
Radda said: “There is growing recognition of the important role MSMEs play in economic development, especially youth-run enterprises. They play a pivotal role through several pathways that goes beyond employment generation.
“They also contribute significantly toward improving living standards, aiding local capital formation, enhancing innovation and competition in developing economics. That is why government at various levels have undertaken initiative to promote the growth and development of MSMEs’’.
Radda said although young entrepreneurs were facing major business constraints, including but not limited to the choice of the right enterprise and what it takes to own and manage a business.
Radda said that the agency had initiated a number of programmes to enhance entrepreneurship development in Nigeria.
He listed the programmes to include the strengthening of business membership organisations, Enterprise Network Initiatives, Commercialisation, Empowerment Initiative for ICT, Financial Empowerment for MSMEs and Credit Information Portal.
Radda listed other programmes as Young Business owners in Nigeria (Y-BON), Conditional Grant Scheme (CGS), Leather Cluster Enterprises Scheme, Garment and Textile Cluster Growth Support Scheme among others.