MSME FEST: Increasing MSME's Productivity And Creating Jobs #FreeRegistration

Micro, Small and Medium-scale Enterprises are recognized as key engines of economic growth in both developed and developing countries. MSMEs also play a vital role in the generation of employment opportunities, poverty alleviation and diversification of the economy. Research has shown that MSMEs generate revenues and GDP six times faster and creates jobs four times faster compared to larger businesses. According to studies by the International Finance Corporation (IFC), approximately 96% of Nigerian businesses are MSMEs compared to 53% in the United States with approximately 50% contribution to GDP and employment of over 50% of the working population. In Europe, 65% of businesses are MSMEs with approximately 50% contribution to GDP and employment of over 69.9% of the working population. In Germany, MSMEs represent 99.95% of all companies with an annual turnover of up to EUR 500 million and employ about 68% of the working population.

PROFILE

The total number of enterprises in Nigeria is 37, 067, 416

• Micro: 36,994,578
• Small: 68,168
• Medium: 4,670
• Highest number in Lagos and lowest number in Nassarawa.

EMPLOYMENT

S/N	CATEGORY	EMPLOYMENT
1	Micro Enterprises	Less than 10
2	Small Enterprises	10 to 49
3	Medium Enterprises	50 and above

CHALLENGES

1. Poor financial and credit support system: About 80% of MSMEs are constrained because of poor accessibility to financing.
2. High levels of unskilled staff: Lack of trained manpower and management skills also constitute a major challenge.
3. Inadequate basic infrastructure: Most MSMEs are constraint to growth due to the problem of poor basic infrastructures such as shortage of power supply, inadequate transport systems etc
4. Poor strategic planning: MSMEs lack proper sound planning skills, which hinders their progression.
5. Unstable policy environment: Instability in government policies has caused some MSMEs to collapse.

HISTORY

MSME Fest is a programme that is designed to assist Micro, Small and Medium-scale Enterprises expand their productivity given their potential of providing millions of jobs.  The programme was launched in December 2011 and we have had five successful editions. We have reached over 800 MSMEs in both Abuja and Port Harcourt. Past editions have received sponsorship from Airtel, Access Bank, Visafone and other organizations.

THRUSTS OF THE PROGRAM

 The programme rides on 3 main thrusts:

1. Innovation in Business,
2. Performance Management and
3. Accessing Finance

MSME FEST 2016

Date: 23rd April 2016

Venue: Oriental Hotel, Lagos

Time: 10am

The programme is now in its 6th edition. The main focus of this edition is on Innovation in Business and Accessing Finance. The expected outreach is over 800 MSME owners with a profile of 60% women and 40% men. Experts from chosen areas of focus will deliver the programme sessions. The sessions are geared towards participants with different levels of experience, different positions and different areas of business.

The sessions are designed specifically to promote interactions between participants and the experts.

SESSIONS

The sessions will be held through formal plenary sessions and parallel presentations. The plenary sessions will consist of formal presentations on topics of common interest, which will serve as foundation for subsequent parallel presentations, which will allow opportunities for discussion among participants and speakers. 

LEVERAGING INNOVATION AS A GROWTH STRATEGY FOR MSMEs

The 21st century is racing at an unimaginable speed and Micro Small and Medium-scale Enterprise are faced with meeting the growing challenge of this fast-paced century requirements. MSMEs will have to meet the demand of its growing customers with pace and yet achievement the highest possible quality and standard.

This session will explore various innovative options and strategy that MSMEs can take advantage of to grow their business, increase productivity and create jobs; looking at various options including latest trends in Information and Communication Technology.

Panelists

• The carefully selected panelist for this session include:
• Yemi Saka – Ernst & Young
• Mosun Layode – Executive Director WINBIZ
• Ndidi Edozien  - Founder/Chair, Growing Business Foundation
• Frank Nweke II – Executive Chairman, The Cerebral Lemon Company

ACCELERATING AND OPTIMIZING MSMEs FINANCE PROCESSES FOR GROWTH STIMULATION.

The growing frustration of Micro Small and Medium-scale Enterprises in Nigeria in accessing viable financing option to stimulate the growth of their businesses is becoming ubiquitous.

Despite the various presentations of financing option by banks, about 93 per cent of Nigerians could not access loan in 2012, while about two-thirds of the population had access to informal money lenders and 71 per cent of loans were granted through family networks.

This session will explore the various ways of accelerating and optimizing available financing options and help stimulate the growth of MSMEs in the country especially at a time that support is being drummed up for Nigerian Made goods to increase the proportion of exported to imported goods.

Panelists

The carefully selected panelist for this session include:

• Olumide Lawson – CFA Sahel Capital
• Kehinde Oyeleke – Seedvest Group
• Mr. Kehinde Lawal – Investment Executive, GroFin
• Representative of the African Development Bank

Key Benefits to Participating MSMEs

Representatives from finance firms such as Grofin, Sahel Capital, CBN MSME Funds, African Development Bank, GEM Project of The World Bank, SMEDAN and Bank of Industry will also be present to provide specific information on how MSMEs can access finances effectively.

At the end of the programme, MSMEs will have the opportunity to build new business relationships, access various finance options, get more insight on how to increase productivity in all spheres, and access new products and services that will be beneficial to their growth.

Admission is free.

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