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Experts Join CREM and SMEDAN to Chart New Course for SME Funding in Nigeria

Experts Join CREM and SMEDAN to Chart New Course for SME Funding in Nigeria

A business forum in Lagos, conducted by Centre for Research in Enterprise and Action in Management (CREM) examined the journey of SME funding in Nigeria. Noel Ihebuzor, Phd, Dean of CREM shared the factors inhibiting SMEs from receiving funds to grow. They include: 

  • Unfavourable government policy 
  • Improper implementation
  • Accessibility obstacles 
  • Multiple taxation

According to the article, SMEs contribute to a significant amount of growth for the economy, yet they lack the proper support. “SMEs play important role not only in sustaining the economy but in creating jobs, creating revenue space, and opportunities for families to take care of themselves, shared Dr. Ihebuzor. By the very nature of the business, SMEs need funds and if the arrangement of these funds could be available to them, SMEs will go along way.”