First Bank, LBS task SMEs on GDP growth

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First Bank of Nigeria Limited in partnership with Lagos Business School (LBS) has tasked Small Medium Enterprises (SMEs) practitioners in Nigeria on capacity building and development to contribute to the nation’s gross domestic product (GDP) and repositioning the national economy for sustained growth.
The bank, through its Sustainability Centre, First Bank Sustainability Centre (FSC) is partnering LBS to empower SMEs practitioners in Nigeria. At a two-day workshop entitled, “Sustainability Strategies for SMES,” held at the LBS, the bank said the workshop was designed to empower and enlighten participants that sustainability is not just about the environment but an important step towards an efficient business model that reduces waste, cuts costs and increases profit.
The bank’s Group Head, Marketing and Corporate Communications, Mrs. Folake Ani-Mumuney, described the workshop as one of the initiatives aimed at engaging and supporting the business enterprises of its stakeholders towards ensuring optimum performance.
“We believe that SMEs are at the heart of national development, contributing greatly to the GDP of our country. “As Nigeria’s leading SME bank, we are focused on empowering SMEs and SME entrepreneurs towards capacity building and development to contribute to the growth of our economy in providing employment to people, adding to our GDP and repositioning the national economy for sustained growth,” she said.
Speaking on the topic, “Sustainability and SMEs,” the facilitator, Dayo Oluwole, who emphasised on the need for sound risk management, explained that organisations that have been in operation between 50 and 100 years are their strong focus on succession planning and leadership development. She informed the entrepreneurs present at the workshop to adopt the right business planning and consider the impact of their business on society, environment and the economy.

Source : SunOnline

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