“The process for transforming Small and Medium Enterprises, SMEs, to become bigger players and part of national growth does not start and end with finance. A huge part of it starts with education and that is why Sterling Bank Plc is building capacity in the SMEs sector.”These were the words of Abubakar Suleiman, executive director, Sterling Bank, at the capacity building training seminar for SMEs organized by the bank recently.The programme was aimed at enhancing the managerial and entrepreneurial qualities of SME operators with a view to building sustainable business, in view of the critical roles they play in the development of an economy.
Explaining the rationale for organising the forum, Suleiman said: “It is our view that for us to be able to support SMEs, the standard for reporting and the day-to-day management of the organisation needs to improve. We are hoping that this seminar would achieve this objective. We are focused on people we have done business with for a while and we want to assist them to take their businesses to another level.”
He is also of the opinion that the type of education provided for SMEs needs to be improved. “Nigeria still has a lot to do and a long way to go when it comes to our legal environment, the process of securing approvals and setting up businesses,” he added.The Sterling Bank executive director said that the institution will continue to invest in capacity building in the sector because the national economic development prospects of any country is hinged on the entrepreneurial energy of vibrant SMEs as most big business concerns grew from small scale players to become big icons.
He, however, noted that the expected growth of SMEs in the country would not be achieved unless there is an improvement in the quality of infrastructure in the country.
In his remarks, Bawor Benjamin, a participant and the chief executive officer, Africa Star Limited, commended the bank for coming up with the training programmes. He added that this would go a long way in encouraging owners of small and medium scale businesses and give them an idea of how to grow their businesses and establish proper structures, so that they can access funds for business growth. “With this seminar, I think most of the people attending can gain new ideas to develop their businesses,” he said.
Similarly, Shade Animashaun, managing director of Carlisle Nigeria Limited, said that the seminar would serve as the much-needed catalyst to hasten the growth of SMEs in the country, adding that Sterling Bank through it has succeeded in adding value to the sector.
Sterling Bank is one of the leading commercial bank in Nigeria and one of the country’s fastest growing banks. Originally incorporated in 1960 as NAL Bank (the country’s first investment banking franchise), it acquired the operations of the erstwhile Equitorial Trust Bank in November 2011 in pursuit of its growth and expansion plans. The bank currently operates out of 168 branches, about 3,600 POS and 300 ATMs across Nigeria.