Wema Bank understands the need for SME growth – TechEconomy.ng

Nigeria’s leading innovative financial institution, Wema Bank Plc, has once again reaffirmed its commitment to empowering and educating Small and Medium Enterprises (SMEs) with skills and knowledge on current business trends.

Division Head, Retail, Wema Bank Plc., Dotun Ifebogun, said this on Friday, February 25 during the bank’s first quarter SME webinar series on “From Talent to Wealth: Building your talent into a successful business”.

The webinar, one of the avenues for banks to bridge the business knowledge gap and grow the SME space in Nigeria, was moderated by creative consultant and experiential communication coach, Chioma ‘BBB’ Okpala. Panelists included Wema Bank Chief Digital Officer Olusegun Adeniyi; Deputy Managing Director, Creative Industries, Bank of Industry, Uche Cynthia Nwuka and Director, Siren and Suave Entertainment Limited, Oluwole Idowu.

In his opening remarks, Ifebogun highlighted the importance of SMEs for the economic growth of any country and underlined the progress of Wema Bank in the SME segment and the importance of participating in such knowledge sharing sessions .

“We understand the need to focus on this segment of the economy and will continue to support SMEs with funds, help them harness their skills and equip them with knowledge of current business trends to help them grow. . This is our first SME webinar of the year 2022, but the 5th edition we have done since we started the SME webinar series,” he said.

Speaking on “Developing talent and making it a successful business”, Director of Siren and Suave Entertainment Limited, Oluwole Idowu, said that serious innovators and entrepreneurs must first identify their talents, then market them and derive income.

According to Idowu, entrepreneurs and creative artists need to market themselves with available channels and tools and slowly build an online presence.

“As a creative person, you have to put yourself forward all the time; have an electronic press kit (EPK) to showcase your talent and update it frequently. You need to make sure your branding and perception matches your message. Reaching the top is easy, but staying on top is not easy. Build and grow slowly,” he advised attendees.

Idowu further advised creative artists to think of themselves as a product and market themselves as such.

He also told them to be intentional when choosing a manager as it is crucial to harness their talent and build a brand.

Reiterating the importance of identifying talent and applying creativity in building a business, Uche Cynthia Nwuka, Deputy Managing Director, Creative Industries, Bank of Industry, said individuals need to identify their talents and conduct market research in the industry that interests them, as well as developing their character.

“As an SME, you need to be proficient in your area of ​​interest, understand the key elements of business growth, conduct thorough market research, understand your financial needs, know how to build a clientele and learn how to Your talent will drive your business idea, and a good business idea will generate revenue,” she said.

Nwuka further noted that the character is a game changer who can make or break a business if not guided well. “Talent brings you into the room, while character will keep you in the room,” she concluded.

Olusegun Adeniyi, Chief Digital Officer, Wema Bank, concluded the session by talking about leveraging technology to turn your talent into a successful business.

“Technology is the biggest enabler in today’s world, around which businesses revolve. We have experienced digital disruption, leading to success stories and improved services across all industries. In the digital age, turning your talent into a successful business requires a high level of creativity and innovation,” he said.

Adeniyi highlighted some of the opportunities for creatives in entertainment, hospitality, digital marketing, fintech and healthcare, and also told attendees about current industry trends and how The Internet has created a wide playing field for business competition.

He urged young innovators and SMEs to focus on developing in-demand skills, creating channels to market themselves, protecting themselves with legal advice and giving back to society.

The SME-focused Wema Bank has a rich history of supporting SMEs and has over the years introduced several initiatives in the SME segment such as the ALAT for Business platform, funding start-ups and unique creatives through to its Hackaholics program, SME Business School, SME loan offers and many more.

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