By Gloria Osemudiamhen
Ever wondered why some States seem to be developing more than others?
A critical review of this question reveals the truth about what informs speedy economic growth in a State.
With data gathered from various researches, it has been discovered that a handful of successful businesses in a State can directly influence its economic development.
Like Abhijit Naskar stated, “If you want to see economic equity, start supporting your local business. One small business in one neighborhood is the backbone of sustainable economic progress”.
The micro, small and medium enterprises (MSMEs) are the sure ways to do what Abhijit opined.
The Governor of Edo State, Mr. Godwin Obaseki, has shown unwavering support for businesses in the State. Since the inception of his administration, there have been various economic policies and programs that engendered business growth and sustainability.
This explains why he is so keen on leveraging this sector, while harnessing its benefits which also is a strategic way of diversifying the economy.
Today, with over one million micro, small and medium enterprises (MSMEs), the State’s economy is developing rapidly. Edo is among the States with the best ease of doing business reports in Nigeria. The State Government has also established a strong partnership with private investors to drive economic growth.
In furtherance of his business improvement drive, Obaseki liaised with the German Development Agency (GIZ) and other organizations to carry out basic entrepreneurship and financial literacy workshops for business owners in the State.
The training, which was held at the John Odigie Oyegun Public Service Academy, had in attendance participants drawn from different chains of businesses such as education, fashion designing, fishery, poultry, and cafeterias, amongst others.
The training, which is held in batches, has successfully trained the first two batches, as the goal is to train 600 resident entrepreneurs across the three senatorial districts of the State.
The participants were taken through the basics of business sustainability, financial planning and budgeting, business management, marketing, networking and other professional areas.
The Commissioner for Industry, Trade and Co-operatives, Afishetu Braimoh, noted that from the data gathered from a research by the Ministry, most MSMEs fold up or do not do well due to poor management, which explains the relevance of the training program in building great businesses and availing entrepreneurs the requisite tools to enable them succeed in their business ventures and encourage investments in the State.
Loans have been made available for successful trainees to scale up their businesses and encourage locally produced goods.
This very laudable initiative has encouraged entrepreneurs to maximize this life- changing opportunity as Governor Obaseki remains committed to facilitating capacity building for self-reliance, vital to improved standard of living through job creation for the teeming population.
Obaseki has also partnered with the Bank of Industry to provide a loan of Two Billion Naira for entrepreneurs across the three Senatorial Districts of the State. In the course of the training program, participants were coached on how to access the MSMEs fund as well as all they needed to know about it.
The Chairman of the National Association of Small and Medium Enterprises (NASMEs); Sir Femi Ajala, encouraged the participants to utilize the opportunity which has been given to them to grow their businesses. The participants expressed joy and satisfaction over the series of training they have received from the seasoned facilitators and promised to immediately apply the knowledge gained. With the continuous training and retraining of business owners in the State, sustainable growth and development are guaranteed in the State.
