SMEs And 2021 Targets, Hopes

The year 2020, we all know, was a tough one, especially for operators of Small and Medium Enterprises (SMEs) whose efforts were good though, but not enough to break the barriers set by natural and man-made occurrences like the COVID-19 pandemic and EndSARS protests, among others.
Necessity, they say, is the mother of invention. Buoyed by this saying, many innovative companies shifted their businesses to e-commerce in a bid to break through. Some others shut down completely, waiting for the time when people would be free to open their shops and offices to customers.
Although the year has gone with its challenges, The Tide senior correspondent, Lilian Peters, when to town to feel the pulse of some entrepreneurs on what 2021 holds for the SMEs. Below is their responses.
Managing Director of  A.M.C Global, Mr. Tony Onwubiko, who deals on wholesale oil lubricants and parts in Igwuruta said, “My business in 2020 was beyond description. There was total restriction, no import, no export or inter state trade. It was terrible. And of course, this led to my inability to meet my 2020 economic target and even my family financial needs.
Onwubiko expressed optimism that 2021 would be better, saying that he decided to push ahead since his responsibilities as a man increase on daily basis, not minding the circumstances surrounding him as an entrepreneur
He said there was the need for the three tiers of government to assist entrepreneurs in the country.
“During the Coronavirus pandemic (first phase), most SME operators used their capital to keep body and soul together which was not even enough anyway.
“Most entrepreneurs cannot afford the capital requirements of their businesses. I heard and read on pages of newspapers about government and politicians’ palliatives, but majority of Nigerians didn’t receive or get anything. Please, our government should make credit facilities accessible to entrepreneurs.
“Personally, I have found it very difficult to restart my business and bring it back to the level it was before COVID-19. We truly need government assistance now”, he said.
Onwubiko stated that multiple steams of income had always been an answer to business sustainability which, according to him, also falls back to starting capital.
”As for me, I have decided to diversify my business in 2021 by being involved in e-commerce and multi-level marketing which COVID-19 can’t affect. Although the capital to start is still giving me headache but where there is a will, there is always a way”, Onwubiko said.

In the same vein, the Chief Executive Officer, Alpha & Omega Oil & Gas Resources Int’L Ltd, Tamara Richard, said 2020 was indeed a very challenging year for her business.
“The year came with the dreaded COVID-19 pandemic, coupled with the harsh economic situation in Nigeria.
This, she said, brought untold hardships to many business owners.
According to her, “The business terrain in Nigeria was adversely affected by quite a number of factors besides the pandemic. These range from lack of business fund to hyper inflation, poor electricity supply, bad government policies that hamper the smooth flow of goods and services within and across borders.
“I have set some skeletal goals in one or two areas I intend venturing into this year, though not encompassing, because I planned to be very intense in one or two chosen paths. I will visit the goals again to make them clearer and achievable”.
Richard said she was driven by passion and strong instinct to succeed, saying “the setbacks and challenges cannot deter me because I target becoming a phenomenal woman in the business world, obstacles and difficulties, notwithstanding.
“Government should encourage SMEs with good enabling business environment devoid of security challenges. The leaders should also create checks and balance security operations, provide infrastructural facilities, organise business empowerment seminars, give soft loans and grants to financially empower entrepreneurs.
It (government) should review SME operational policies from time to time to measure the workability of such policies to see if they produce the expected result”.
Richard, who described herself as an advocate of diversification said, “I am not only encouraging multiple streams of income, but I am diving into it. Creating multiple streams to me, is the crux of economic stability and sustainability. With the recent happenings in Nigeria and the world at large, it is evidently clear that one stream would not survive any SME”.
To the Chief Executive Officer of Olu P Creative Home, Mrs Oluchi Peter, “My business in 2020 was not that successful  because of the pandemic and lack of finance, coupled with other issues in the country”.
Mrs Peter said SMEs seriously suffered setbacks last year, leading to the closure of some businesses that could not manage the situation.
“The New Year comes with new zeal and hope which propelled me to list out my targets as well as drawing the plans on how to achieve success in 2021. The best thing to do is to critically look at the area I did not do well and what went wrong. This analysis is what has helped me in drawing my New Year resolutions.
“Most of the SMEs face financial setbacks and lack of publicity. I think that government should create a platform that would be able to make loan available for enterprises and also create publicity for us.
Peter, who deals on wholesale and retail lace materials, also noted that gone are the days when SMEs depended on single source of income.
“Mutilple streams of income is where survival is, especially in the harsh economic situation in Nigeria. An individual needs to have different sources of income just in case one fails; he or she will still be financially stable and can live comfortably.
“One of my major plans for the year is to launch fully into e-commerce and explore the benefits provided by the use of the internet to grow my business in 2021”, he said.