FCMB urges SMEs to drive economic growth

First City Monument Bank has urged Small and Medium Enterprises to take the lead in driving the diversification and growth of the Nigerian economy.

During the bank’s fifth series of free capacity building programme, tagged, ‘Business Enterprises and Sustainability Training,’ which was organised for existing and start-up SMEs in Lagos, FCMB said the SMEs played relevant roles in the lives of people and the society.

FCMB said in a statement, “SMEs over the years, have stimulated national and economic development in the areas of production, employment and income generation. This is while making serious contribution to exports as well as facilitating equitable distribution of income, among other significant impacts.

“Towards this end, FCMB has reiterated its commitment to sustain the level of its support to SMEs through increased lending, capacity building, advisory and value-added offerings that would boost their performance.”

According to the statement, the initiative, which was led by FCMB Training Academy, the bank’s business banking group and seasoned facilitators, focused on business and skills development, marketing, finance and accounting for SMEs.

It covered various topical areas such as identifying business opportunities, surviving in a harsh business environment, improving productivity, raising capital, optimising sales, cost and revenue management, among others.

Speaking on the BEST initiative, the Executive Director, Business Development of FCMB, Mrs Bukola Smith, said the bank recognised the increasing role and impact of the SMEs.

She said, “The BEST initiative is one of the innovative ways we support the growth of our SME customers because without effective training and exposure, resounding success could be quite difficult to achieve.

“In FCMB, we are passionate about helping our customers thrive in a sustainable manner. We believe this comprehensive training programme will go a long way in impacting positively on the SME operators who have participated in our training. It will propel them to further develop themselves.

“This will also help them take their respective businesses to the next level and compete favourably within and outside the Nigerian market. We, therefore urge participants to take advantage of the unique opportunities provided by FCMB.”

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