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NGBA holds 1st B.L.A.S.T. workshop session in Lagos

NGBA holds 1st B.L.A.S.T. workshop session in Lagos

NGBA holds 2nd B.L.A.S.T. workshop session in Lagos

aThe Nigerian-German Business Association (NGBA), a not-for-profit organisation made up of over 400 Nigerian and German owned business enterprises, recently held a workshop training for Small and Medium Enterprises (SMEs) in Lagos,  in continuation of its workshop series tagged “B.L.A.S.T. (Business Leadership and Strategy Training)- Business Growth Opportunity and Access to Finance for SMEs.“

The capacity-building workshop which took place at the NGBA Secretariat in Victoria Island and was attended by several start-ups and existing SMEs operators from across the country had as its main thrust issues concerning the efficient management of business for SMEs.

Delivering the keynote paper entitled; “Building an efficient business for growth,” the Founder and Director, Immaculate Metrics Plus, Mr. O.J. Samuel, said SMEs must as a matter of top priority, urgently develop and build a business structure that would enable the efficient running of a business. Having such solid business management framework, according to Samuel, would ultimately lead to the smooth transition of the business from one generation to another.

In his words; “Structure is fundamental to the seamless flow of SME’s and for continuity whether in the presence or in the absence of a business founder. When the founder has to be present for the business to work, then that is not a business; that is a job!

“So in a business, an SME is to institutionalise a given succession planning framework. It has to be conscious of that need from the onset and when it is conscious of the need from the onset, it should be reflected in the core value and in the culture of that business.”

Samuel also advised SME’s to engage either professional accountants or consulting firms to help them with appropriate recommendations concerning their finances because they are the right professionals “that can constitute a sound accounting and internal control system” to compare and contrast a business current performance with the laid down figures or targets.

Also speaking, Engr. Adeniyi, a veteran member of the NGBA, while reminiscing on his experiences as an active worker, encouraged the participants to continuously uphold the cherished values of hard work, honesty and discipline to succeed in their endeavours. Furthermore, Adeniyi urged SME operators to incorporate the habit of savings in their business and personal lives as it would help boost their business and remain comfortable even after retirement.

The Director General, NGBA, Ms Jennifer Anoyika who was present to hand out certificates of attendance to the participants, disclosed that the association’s core purpose for organising the workshop was for SME owners to be properly grounded with the needed skills and tips to develop and expand their businesses.

“We realised that it’s really important that for survival of businesses and for our own key mandate as an association to foster bilateral trade between Nigeria and Germany, the Nigerian companies would probably have to have a certain foundation and structure which if they had, maybe would give them the confidence to actually go abroad and find partners with confidence as well as being able to have access to finance,” she said.

The NGBA B.L.A.S.T., a four-week series workshop for SMEs which began on Thursday, August 13 with the first module on understanding the Nigerian legal and business environment would continue on August 27 and September 3 respectively with a focus on meeting the financial and marketing needs of SMEs, thereby completing modules 3 and 4.

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