SMEs urged to have multiple streams of income

Small and Medium Enterprises proprietors have been urged to invest in multiple streams of income to enable them get out of the current recession.

This call was made by the MD/ CEO of Abuja Enterprise Agency (AEA), Malam Arabi Muhammed Tukur, at a seminar tagged ‘Creating Wealth Through Investment’ which it organised in collaboration with Neces Network of Entrepreneurial Women (NNEW).

The CEO who was represented by the Principal Manager, AEA , Mr Chudi Ezirigwe, said if entrepreneurs developed multiple streams of income, the recession was not for them. “The whole message is that we should have multiple streams of income because when one door closes another opens. Having listened to the resource persons here, I believe the entrepreneurs have a lot to take home.”

Speaking on the topic ‘Creating Multiple Streams of Income’, an Economist, Mr Paul Alaje, said there were lots of investment opportunities for entrepreneurs, especially women. “You have the CBN treasury bills, bonds, Sukuk, a lot of investment opportunities out there. For the women, while they take care of their children at home, they can have their money working for them to get interest and returns on investment. One of the top five richest Nigerians is a woman,.” he said.

The Chairperson of NNEW, Abuja chapter, Mrs Ekaette Umoh, said women have no excuse not to invest. “With what the experts have spoken about the treasury bills, bonds, real estate and all the investment opportunities available to women, no one has any excuse not to plunge into any of these platforms,.” she said.

On the benefits of investing in cooperatives, the Executive Secretary of the National Cooperative Financing Agency of Nigeria (CFAN), Mr Emmanuel Atama, said cooperatives helped SMEs to save for the rainy day, adding that with the Cooperative Inclusive Strategy, CFAN is creating access to finance, housing, healthcare and more to co-operators.