Bank holds business advisory seminars for young SMEs

As part of efforts towards supporting Small and Medium Scale Enterprises (SMEs) especially young up comers, Union Bank held and recently concluded a series of business seminars for this group of businesses. The seminars took place in seven locations across the country including Aba, Lagos, Anambra, Kano, Kaduna, Abuja and Oyo.

The sessions themed ‘Managing a successful small Business’ were designed to provide practical information and guidance on how to address typical challenges small businesses face in Nigeria. The workshops included modules on sales and marketing, governance, succession planning and capacity building. In addition, attendees were equipped with relevant digital marketing and accounting skills to enable them compete favourably in the Nigerian marketplace.

Speaking on the Bank’s focus on providing support for SMEs, Union Bank’s Head of Retail Segments, Paul Aseme highlighted the role of SMEs in boosting a nation’s economy, saying, “Union Bank has been known for its contribution to the growth of Nigerian businesses. Recognising the role of SMEs in driving Nigeria’s economic growth, these seminars were organised to equip business owners with the knowledge and skills they require to establish a strong foundation for their business, widen their exposure and expand their business connections.”

Some participants who attended the seminars thanked the Bank for the free training which they stated is sure to boost their businesses and the SME sector as a whole. The Bank’s SME support scheme also includes the provision of access to market, a conducive banking climate for investment and, easy access to finance for working capital through loan products that include non-collateral loans. The Bank’s commitment to SMEs earned it the ‘Best Bank to Support Nigeria’s Small and Medium Scale Enterprises’ award at the 2016 BusinessDay Annual Banking Awards.

Last year, in partnership with Co-Creation Hub, Union Bank launched a first-of-its-kind business acceleration programme ‘Start up Connect’ which provides an opportunity for Nigerian businesses creating technology-based solutions for the emerging African market.