Today’s article is based on a LinkedIn message I received from a friend a few weeks ago, just before the last week’s presidential elections. The message is represented here: “Good morning Segun, please get in touch on this mobile with respect to a recruitment assignment.”
Such messages only come my way when there is a real need that requires my attention. To be brief, the message was from a potential client that had a recruitment need that required an urgent attention, even while election tension was in the air.
The uniqueness of the message is that the client was not any of the big names in the economy or client of a blue-chip/multinational company. The client was an SME, meaning small and medium enterprise.
Usually SMEs are described as start-ups – those that are not yet in the league of well-established businesses. Many may choose to call them one-man-businesses. Nonetheless, the Central Bank of Nigeria thinks about them otherwise. The CBN defines SMEs by their asset base and number of staff employed. The criteria are asset base of between N5 million and N500 million and a staff strength of 20 to 300 employees.
Going by the CBN definition, there are numerous SMEs as well as Micro Enterprises in Nigeria, whose asset base and number of employees are lower that the CBN standard thresholds. Examples are numerous, ranging from supermarkets, pharmacy stores, textile dealers, shopping malls, hotels, restaurants, Internet cafés, computer business centres, to consulting firms. The list is endless.
The above is an excerpt from my post on the iPunch Column of The Punch Newspaper titled “Job Opportunities in Nigeria’s SMEs” which was published on Friday, April 3, 2015 both online and in print.
Kindly read the Online version of the post here and drop your comments.