The 41st monthly capacity-building workshop organized by Diamond BusinessXpress for entrepreneurs in the Micro, Small and Medium-Scale Enterprises ends in Lagos. The training workshop featured cash budgeting for entrepreneurs
| By Chinwe Okafor | Mar. 17, 2014 @ 01:00 GMT
DIAMOND Bank has put in place a training programme designed to increase the capacity of Micro, Small and Medium-Scale Enterprises, MSMEs, in running profitable businesses. The programme features training in cash budgeting for entrepreneurs through its Diamond BusinessXpress seminar initiative. The seminar, which held in Ikeja, Lagos State, marks the 41st edition of the Bank’s BusinessXpress Seminar which is a monthly capacity- building workshop aimed at building managerial capacity and institutionalized processes within the sector.
The seminar had in attendance many operators in the MSME sector who came to gain fresh and new insights into the operations, trends, financing and management of SMEs. Chima Nnadozie, head of MSME Propositions, said the bank holds the training to assist entrepreneurs to continue to survive in business. “We realised that some people are in business without the requisite knowledge to stay profitable. That is why we packaged this programme aimed at giving back to the small business owner whose success in business is critical to the success of the economy.
“The MSME entrepreneurs hold the key to a more vibrant Nigerian economy and the bank was determined to grow their capacity nationwide. Diamond bank is one of the few that understands what MSME’s are.” He said that Diamond BusinessXpress account is specifically designed with the needs of entrepreneurs in mind. According to him, Diamond BusinessXpress account was developed specifically to add value to customers’ businesses, whether it is a micro, small or medium scale enterprise, the account aims to help customers grow their MSME business till it graduates to the upper level market.
Kolawole Ogunbajo, managing director of Avis Nigeria, gave an insight into how MSME entrepreneurs can go into achieving what they want. He advised all entrepreneurs to start small and dream big because if you want to start big, then you definitely don’t want to start. He said that every business has to have its strategy, adding that there must be plans of how one can do his or her business. According to him, even if money comes and there’s no business strategy, the money will vanish due to lack of plan.
He listed out some business rules among which are that a business owner should pride himself on his ability to find creative solutions to tough problems; should not have illusions; should hire people with positive attitudes and get rid of the bad apples,; keep focusing on what he loves; learn from mistakes, but does not let them bring him down; should keep away from negative people in business and in life generally, among others. However, participants at the session raised questions and asked for different solutions to the problems they encounter in running their businesses.