Creating Wealth
Nigeria’s most innovative and customer-friendly network, Etisalat is one of the few private sector operators that empower Small and Medium Scale Enterprises and startup businesses in the country. Judith Akporherhe writes
Small and Medium Scale Enterprises (SMEs) and startup businesses play significant roles in the economic development of countries. According to the United Nations Industrial Development Organisation (UNIDO), SMEs form the backbone of economic growth in most industrialised economies, and account for 50 to 60 per cent of employment generation. They also contribute significantly to wealth creation and poverty alleviation.
The story however, appears to be a little different in Nigeria. Until recently, the country’s SME sub-sector has been faced with lots of challenges that include stringent business registration process, inefficient electric power supply that constrain companies to run on expensive alternative sources of energy, inaccessibility to bank credits and loans, multiple taxation, importation of goods that can be produced locally and lack of managerial capacity among other factors. In the 2016 Ease of Doing Business Report released recently by the World Bank, Nigeria reportedly ranked 169 out of 189 countries on the ease of doing business list in countries of the world. Some other sources even allege that the lifespan of an average SME in Nigeria is about five years.
But government’s resolve to revitalise the SME sub-sector has led to the review of some policies that had adversely impacted the small businesses in past years. These measures include the automation of the process of incorporation of new businesses and the inspection of cargoes including raw materials at the seaports and downward review of import duties on some raw materials. Another measure was the establishment of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
In keeping with commitment to its attributes of innovation, youth friendliness and customer friendliness, Etisalat has impacted lives in Nigeria not just by providing voice and data services; it remains at the forefront of promoting and empowering SMEs and startup businesses through innovative products, services, projects and solutions. One of such initiatives designed to empower SMEs is the EasyBusiness Millionaires Hunt (EBMH). Through the EBMH launched in 2011, Etisalat supports and rewards SMEs with the most viable business ideas with business grants of N2m each to top 10 winners every year. In addition, each of the winners including the remaining 40 that made it to the top 50 also receives office equipment including a laptop computer, a scanner and a printer for their businesses in addition to six-month mentoring.
In furtherance of this commitment to the SMEs, Etisalat in partnership with the Enterprise Development Centre of the Pan Atlantic University Lagos, recently organised three sessions of Market Access, a quarterly business networking and empowerment opportunity initiative that helps owners of small businesses to network and share ideas with entrepreneurs in large organisations as well as to strengthen their capacity. The sessions, held in Abuja, Port Harcourt and Lagos, were well attended by key operators across the private and public sectors.
Speaking at the Lagos session, Head, Enterprise Marketing, Etisalat Nigeria, Bidemi Ladipo reiterated the telco’s commitment to SMEs by saying that the launch of Etisalat into the Nigerian market some years after three other operators had been in the market, coupled with Etisalat’s strong growth, was an inspiring testimonial of the great potential that SMEs have. He said, “We are proud to be associated with small and growing businesses in Nigeria because we share a similar story. When we came to Nigeria, the market had been fully taken by existing operators. Though we came into the market as a small player, today our story is different; we have over 23 million subscribers and we are on our way to becoming the number one player in the industry. This tells us that every small business has a potential to grow into a big corporation, which is why we associate with small businesses."
The Regional Manager, Enterprise Sales, Etisalat Nigeria, Victoria Ibeji, while speaking at the Abuja edition of Market Access, affirmed that the company has been consistent in driving innovative solutions targeted at SMEs growth in Nigeria because small businesses are the engine of economic growth across the world.
“At Etisalat, we have been consistent in implementing solutions that stimulate the growth of SMEs in Nigeria. One of these numerous solutions is this partnership with the Enterprise Development Centre of the Pan-Atlantic University, Lagos for meeting the global entrepreneurship need of small and growing businesses. Also as part of the initiative, we have trained a lot of SME operators from across Nigeria; we have connected them with mentors, and inspired them for great successes through networking opportunities with entrepreneurs of large organisations”, she said.
Giving a testimonial of the impact of SME targeted initiatives by Etisalat, one of the participants, Prince Samuel Titilope, disclosed that he has attended 10 out of 14 Market Access sessions organised since inception in 2011, and the impact has been phenomenon on his business. "I am confident to say that my business has drastically improved because I get useful business insights from this forum. This is why I travel and attend the forum wherever it is holding because I also get the opportunity to connect with other SMEs during the forum", he said.
Speaking on the importance of Market Access Nigeria, the Director, Enterprise Development Centre, Pan-Atlantic University, Peter Bamkole, said the initiative is a platform that brings together Small and Medium Scale Enterprises (SMEs) and large companies to network, start relationships and create opportunities. “The main goal of Market Access Nigeria is to facilitate market access for SMEs by keying them into the value chain of large organisations, bridging the gap, and enabling local content development and participation in various sectors of the Nigerian economy”, he said.
Through the annual Etisalat Prize for Innovation, the telecoms company has also empowered many SME innovators to scale up their entrepreneurship. The Etisalat Prize for Innovation, created by Etisalat Nigeria in 2012, encourages and celebrates valuable innovation among young Nigerians who come up with innovative products, ideas and solutions that drive or facilitate mobile broadband utilisation. The prize is awarded in two categories: the most innovative product or service launched in the last 12 months for the first prize of N5 million and the second prize of N2 million for the most innovative idea.
The Market Access platform has seen tremendous success since its inception in 2011. Market Access has aided Small and Medium Scale Enterprises (SMEs) in networking and developing productive relationships with larger organisations. Last year, the platform toured the country to regions including Lagos, Abuja and Port Harcourt with a combined total audience of over 2,000 people for the year. This year, the platform has toured Port Harcourt and Abuja.
The Regional Manager, Enterprise Sales, Etisalat Nigeria, Victoria Ibeji, while speaking at the Abuja edition of Market Access, affirmed that the company has been consistent in driving innovative solutions targeted at SMEs growth in Nigeria because small businesses are the engine of economic growth across the world