Business
How a Strong Online Presence can Help a Business Grow
Having a poor or no online presence is a wake-up call for businesses in this world where a third of us come online on regular basis either to collect useful information or to buy stuff online. Simple to say that getting a business or brand out across the internet is a key success factor in this virtual world and online presence means more than creating a simple website with basic business details and contact info. A successful online presence means setting up a comprehensive virtual version of a brand by having a responsive website, social media profiles and availability on different local directories etc. Ignoring this amazing and fertile marketing platform is similar to saying that if a brand or business is not online, customers cannot find it on the web.
As a small business owner if you have no or minimal presence on the web, then you are missing a bunch of opportunities to grow your business. in order to help you make sure you are not missing any opportunity to grow your business online, we have highlighted following points to help you understand how a strong online presence can help a business grow.
Online Presence MakesIt Easier for Potential Customers Come to YouWhen it comes to gather more details or information about a business, people usually search online by using their mobile devices. For instance, either someone is searching for your watch company or another option to buy racing watches at reasonable rates, having a successful online presence will give your business a competitive edge by appearing in the search results. In simple words, there will be no need to put extra efforts to finding your business online because a single Google search can bring your business in front of the potential customers if optimized accordingly.
Build Strong Relationships with Customers
Customers can easily find essential business details and news by visiting the official website of a business or brand. Moreover, availability on social media also helps a brand or company to interact with potential and existing customers in real time. It helps a business build strong relationships and trust as well. Customers can also visit social media profiles and other online communities to check the reviews and customer feedback for their favorite brands before making purchases.
Cost-effective and ExtensiveMarketing Approach
Digital marketing is inexpensive to produce and distribute than traditional marketing approaches and limitless as well. A single advertisement shared on social media can reach to a wider audience as people usually share content within their social circles when found useful and informative as well. In this way, your corporate message can reach to millions even in short span of time and without spending extra bucks. A highly responsive website loaded with problem solving and informative content can also be a great marketing tool for a business these days to secure more leads and sales too.
Increases Credibility
People these days are tech savvy and they do inclusive search on the web before purchasing something even from their favorite brands. They read customer testimonials on website, check social media platforms for reviews and moreover they ask others for recommendations to influence buying decisions. And a strong online presence shows that the business or brand is serious about its online repute and provide customers withany possible information and details that customers need before making purchases. It increases the credibility of a business in return and attract more customers.
Reputation Management
Either a business is accessible on the web or not, customers are always online and possibly they could be talking about the business or its products within their social circles or in some online communities. If you are not online, you will not be able to know and understand what people are talking about you. At the end, you will not be able to manage your repute online. That is the reason, you must be there on the internet to listen your customers and to make necessary changes in your business operations and processes accordingly in order to build and manage strong repute in online the market. Signing up on social media platforms will enable you to find and resolve customer problems accordingly in real time to let them know that you really value your repute and customers as well.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.
