The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), a regulatory agency for small businesses in the country, has called for collaboration among relevant stakeholders, including the government, policy makers and operators in the subsector, as a major panacea for developing the sub-sector.
SMEDAN made the call during a retreat held in Lagos, recently, for its Governing Board members. The event was aimed at providing a platform to review the current modus operandi and recommend new ideas leading to the creation of an ideal operating environment for the development of SMEs sub-sector.
The event which had the theme, ‘Strategic Management Imperatives for Optimal Performance in the Emerging MSMEs Development Ecosystem’, drove home the view that SMEs can only play their catalytic role in economic development with the existence of a sustainable conducive operating environment.
While speaking, the Director-General and Chief Executive Officer of SMEDAN, Dikko Umaru Radda, said: “we want to proffer solutions to some of the challenges facing the MSMEs sub-sector in Nigeria. That explains why we bring members out of their comfort zones so that we can concentrate and help proffer solutions, provide board members and management opportunity to interact and learn from each other and to look into the agency proposed five years strategic plan and designed for it.”
The governor of Lagos State, Babajide Sanwo-olu, who was the Guest of Honour at the occasion, however, stressed the position of the state government.
“For us, we have positioned our MSMEs for growth through regular provision of support services such as training and skills acquisition for our artisans, youth and women-owned enterprises, financial employment through Lagos State Employment Trust Fund and marketing intervention such as sponsorship of participation at trade fairs and exhibition including the Lagos International trade fair and annual organisation of our state flagship MSMEs exclusive fair which propels global visibility, productivity and profitability of our teeming MSMEs,” he said.