Growth of the Small and Medium Enterprise

A MISSION TO PRODUCE WORLD CLASS ENTREPRENEURS. AMONGST WOMEN

Highlights from WenA’s 2022 ‘SME Stories’ Workshop in Abuja

Published by: WenA

December 8, 2022

Empowering Voices: Highlights from the 2022 WENA ‘SME Stories’ Workshop

Date: December 8, 2022
Location: Relax & Chill Garden, Abuja

About the Event

The WENA SME Workshop tagged “SME Stories” brought together over 200 entrepreneurs across various sectors to share their business journeys, access expert advice, and foster growth. With support from regulatory stakeholders like SMEDAN, NAFDAC, and SON, the event created a safe and dynamic space for capacity-building and collaboration.

Program Highlights

  • Keynote: Delivered by SMEDAN’s rep, emphasizing women’s role in business and SMEDAN’s support systems for SMEs.
  • Panel Sessions: Entrepreneurs shared their challenges—ranging from access to funding and emotional stress to navigating gender-related issues. They also discussed strategies such as angel investing and community support systems.
  • Stakeholder Forum: Experts tackled topics such as SME financing, business growth strategies, mental health, and access to market.
  • BDSP Consultations: Onsite business experts provided free diagnostics and advised on financial literacy, bookkeeping, and mentorship.

Workshop Objectives

  • Create a platform for SME storytelling and support
  • Facilitate access to finance and markets
  • Provide on-site business clinics and networking opportunities

Insights & Observations

  • Nigeria has 38M+ SMEs contributing over 80% of jobs
  • Formalization and internal structures are key to growth
  • Mental health concerns among entrepreneurs are on the rise
  • Market research and proper segmentation drive sustainability

Key Recommendations

  • Leverage design thinking and tech to scale businesses
  • Understand market needs and financing options
  • Adopt tools like Business Model Canvas and structured mentorship
  • Encourage feasibility studies and product-market fit validation

Appreciation

WENA extends heartfelt gratitude to partners, stakeholders, sponsors (AFEX, Egwafin MFB, Kaduna Business School), and all participating entrepreneurs for making this initiative a success.

SMEs play a large, growing, and vital role in the economy of any country.They are the ‘hidden middle,’ ready for support and investment to thrive further.
"I understand we all are overwhelmed, because there is no manual on how to handle the crisis. But by tackling little things quickly, practically and with empathy, this could lead to action. If not we will be crippled."

– Aisha Babangida,

Founder, WenA (Women Enterprise Alliance)

Women enterprise alliance (Wena)

Women Enterprise Alliance (WenA) is a registered non-government organisation whose mission is to produce world-class and diverse entrepreneurs that meet the needs of an ever-changing marketplace in Nigeria and across Africa. In collaboration with our partners, we identify and help build high-quality companies. We ensure the sustainability of the impact generated from the products and services produced by the businesses we support. They strongly believe that women play a crucial role in the development of any nation, which is why we work hard to support women entrepreneurs. Their support assists entrepreneurs to build a lasting foundation for their business, thereby enabling them to contribute to the economic and social development of Africa. 

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