Small and Medium Enterprise (SMEs) have been urged to embrace information, storytelling and digital instruments for international competitiveness.
Enterprise leaders on the 2025 High 100 Quickest Rising SMEs in Nigeria occasion, famous that Nigeria’s SMEs should mix data-driven decision-making, digital instruments, storytelling, and monetary self-discipline to unlock new ranges of progress and international competitiveness.
Whereas talking on a panel session on Digital Transformation for SME Progress, they famous that these are sensible insights on how small companies can scale sustainably in 2025 and past.
“Information is every part,” stated Isaac Oladipupo, Co-founder/CEO of Afrilearn and Moneywise Africa stated, noting that companies should perceive buyer wants via information moderately than assumptions.
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“Folks purchase options to their issues, not services and products. Information tells you the reality about your small business and may information your choices,” he stated.
He suggested SMEs to constantly ask prospects how they heard about their enterprise and to make use of insights to refine merchandise, save time, and stand out.
Oladipupo urged entrepreneurs to embrace storytelling as a core enterprise ability. “Irrespective of how automated the world turns into, folks nonetheless purchase from folks.”
Adeshina Adewunmi, CEO of Commerce Lenda, inspired SMEs to start their digital journey by defining the worth they wish to ship and selecting the best channels.
He famous that social media stays a robust natural device for constructing belief and attracting prospects.
“When you’re providing worth, folks will comply with you and never essentially due to paid adverts,” he stated. “Data is the inspiration. Many individuals soar into enterprise as a result of they want a job, not as a result of they perceive the worth they’re providing.”
Adewunmi suggested companies to prioritise studying, analysis what works for his or her sector, and put money into web sites and expertise platforms that allow e-commerce.
Suliat Aliyu, head, Partnerships at Interswitch Restricted, highlighted how digital instruments are reworking SME operations by eradicating geographical limits and bettering buyer belief via verifiable transactions.
“E-commerce provides SMEs visibility and credibility. However compliance should be a precedence as a result of we function in a regulated surroundings,” she stated, warning that non-compliance attracts sanctions.
Chibuike Goodnews, CEO of Dochase Adx Digital Ltd, stated social media algorithms now permit entrepreneurs to achieve their goal audiences sooner than ever earlier than.
“Your location doesn’t matter. With the proper digital channels, your product can attain the individuals who want it,” he stated, whereas advising SMEs concentrating on worldwide markets to design merchandise and communication methods appropriate for international consumption.
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Tina Nwaiwu, director of gross sales at UCEE Microfinance Financial institution, emphasised the significance of monetary information in serving to SMEs entry loans and scale operations.
“Begin small, however monitor every part. The information lenders want your monetary well being which is your revenue and bills,” she stated.
Nwaiwu urged entrepreneurs to channel all enterprise transactions via the financial institution to enhance credit score scoring and increase eligibility for financing.
