Sparkle Assembles Industry Leaders To Empower Small Business Owners

Industry stakeholders urged Small and Medium Enterprises (SMEs) to embrace digitalisation of business processes as an essential element in positioning for growth and investment opportunities.

This was the highlight of recommendations by industry stakeholders at the Sparkle SME-focused webinar held recently with the theme ‘SMEs as engines of growth; Simplifying support for small businesses’.

The industry leaders include; CEO of MTN Nigeria, Karl Toriola; CEO, Flour Mills Nigeria, Omoboyede Olusanya; SVP, head of Product, Partnerships and Digital Solutions CEMEA at Visa, Otto Williams; and deputy director, Enterprise Development Centre (EDC), Pan Atlantic University, Nneka Okekearu.

The webinar discourse was based on a report titled ‘Impact of Loan Payment Terms on Working Capital Cycles of MSMEs in Nigeria’ jointly produced by the Enterprise Development Centre of Pan-Atlantic University and Sparkle.

The report examines how loans and interest rates impact the business operations of SMEs and recommends innovative ways to create an enabling business environment for SMEs in Nigeria.

Speaking at the webinar, chief sparkler at Sparkle Nigeria, Uzoma Dozie said: “in an age where the world has gone digital; transactions are now cashless, touchless, paperless – data has become key to decision making. SMEs should embrace digitalisation and the use of digital solutions to collate data in a cost-effective manner while minimising operational risks.

be used by them and various institutions to make informed decisions regarding their business.”

Dozie noted that, “at Sparkle, we are passionate about small businesses and we seek out innovative ways to support their growth, beyond providing financial services to them.

“This webinar is our way of progressing conversations aimed at supporting SMEs, by empowering them with proven professional insights, while continuously advocating for an enabling business support environment for SMEs across Nigeria.”

Sparkle is a financial ecosystem providing seamless solutions to Nigeria’s retailers, SMEs and individuals.