Friday
June 30
2017

Stakeholders advocate bespoke intervention schemes for MSMEs

To enhance sustainability of their operations, as well as enable them to contribute to the nation’s economic growth, stakeholders have advocated the formulation and implementation of bespoke intervention schemes for Micro, Small and Medium Enterprises (MSMEs) in the country.

According to the stakeholders, MSMEs are the first responders to societal needs and are responsible for significant employment and income generation opportunities across the world even as they have been identified as a major driver of poverty alleviation and development.

Speaking during the commemoration of the World’s Micro Small and Medium Enterprises day, President of the Lagos Chamber of Commerce and Industry (LCCI) Nike Akande, stated that MSMEs have the potential to make a long-lasting positive impact on global development needs, since they are the engine for economic growth and job creation, maintaining that MSME sub sector accounts for two out of three new jobs created worldwide.

Source: The Guardian (link opens in a new window)

Categories
Investing
Tags
Africa, economic development, MSMEs, Nigeria, small and medium enterprises