Multiple taxes killing SMES, says LCCI

The Lagos Chamber of Commerce and Industry (LCCI) has raised the alarm that Small and Medium scale Enterprise (SME) operators are groaning under growing multiple levies and interest rates being charged by the government agencies and banks respectively. Chairman, Small and Medium scale Enterprise Group of the LCCI, Jon Kachickwu, disclosed this in a chat with New Telegraph in Lagos.   He said that levies being paid to the agencies are taking huge toll on SMEs profits and investment. Specifically, he said that currently, the SMEs are losing about nine per…

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Financial inclusion: CBN engages Ogun farmers, SMEs

cbn, Central Bank of Nigeria

In continuation of its enlightenment campaign, aimed at bringing more people into the formal financial sector, the Central Bank of Nigeria (CBN) on Tuesday held a seminar for farmers and Small and Medium scale Enterprises (SMEs) operators in Abeokuta, Ogun State. The apex bank used the opportunity provided by the financial inclusion fair to educate participants on its numerous real sector intervention programmes. These programmes the bank said, are geared towards enhancing the wellbeing of Nigerians and promoting economic development in general. Speaking on the theme of the seminar: “Promoting…

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Technology, key to SMEs’ growth–Report

Almost one third of small business, who commit to technology, show demonstrable growth, new research has found. The research entitled: “Tech- Savvy Businesses do it better’’ was commissioned by Sage and conducted by International Data Corporation (IDC). The study shows that 56 per cent of all small businesses interviewed have yet to adopt digital technologies, preferring to maintain their business with traditional methods, despite the rewards shown in the findings. According to the study, small business owners that are digitally mature dedicate more time to innovation. Specifically, 32 per cent…

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