The Founder of KADA SMEs Hub, Hassan Yakubu, has called for affordable financing and stronger government support to help small businesses thrive.
Yakubu made the call on Monday in Kaduna, saying access to affordable funding remained a major challenge confronting small and medium-scale enterprises, particularly in Northern Nigeria.
He said many entrepreneurs had viable business ideas but struggled to obtain the funds needed to establish and sustain their businesses.
Yakubu said KADA SMEs Hub was established in 2023 to train entrepreneurs on how to establish, register, manage and sustain businesses.
He said the initiative had grown from fewer than 40 participants in its first edition to more than 400 by its fourth edition, with entrepreneurs from several Northern states now participating.
According to him, the hub has trained no fewer than 3,000 people directly and indirectly through collaborations with other entrepreneurship platforms, while continuing to mentor participants through online and occasional programmes.
Yakubu said the hub had also introduced pitching sessions to help entrepreneurs present their business models, financial plans, social impact and employment potential to prospective funders.
He said the initiative was designed to expose participants to funding opportunities that could provide capital for business expansion.
Yakubu urged the government, development organisations and other institutions to increase funding for viable small businesses and review financing conditions, particularly collateral requirements that many entrepreneurs could not meet.
He said affordable funding would help entrepreneurs avoid expensive commercial loans that could make business operations difficult.
“If an SME knows that participating in a competition can help it win one million, two million or 10 million naira, that can provide useful capital,” he said.
Yakubu urged government to partner with credible entrepreneurship platforms to identify viable businesses, assess their needs and provide funding.
He also advised entrepreneurs to participate regularly in training programmes, seek mentorship, read widely and learn from experienced people in their fields.
Yakubu said stronger SMEs would create jobs and contribute to economic growth, adding that sustainable employment opportunities could also help address insecurity.
He urged government to identify and support credible entrepreneurship platforms across the country to strengthen small businesses and promote sustainable economic development.
