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The SME Ecosystem – Why Growth Board
What is the size of SME in Nigeria? SME contribution to GDP?
In Nigeria, there are a total of 41.5 million Micro, Small The growth sector contributes about 47.8% to the
and Medium Enterprises making up the growth sector Nigerian GDP.
Medium enterprises 1,793
48%
52%
41.5
Small businesses 71,228 Million
Microenterprises 41.4 Mn
Growth Sector Others
Source: NBS, 2019 Source: SMEDAN, 2019
What are the threats to SMEs in Nigeria? What are the alternative sources of SME Financing?
• Access to Finance Debt
• Access to information
• Insecurity Equity
• Government Policies/Ease of Doing Business Leasing and Hire…
• Multiple Taxation Trade Credits
• Infrastructural gaps Bank Loans
• Foreign Exchange Rates Overdraft and Credit…
• Talent Acquisition/Retention 0% 10% 20% 30% 40% 50%
07 Source: Oxford Economics
Source: PwC Survey, 2019
Source: Vanguard News
