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Olugbemi. Adeyinka Ogunleye
3 months ago
Overview
How SMEs in Nigeria, others can be drivers of growth – UNCTAD
Small and Medium-sized Enterprises (SMEs) are seen as important players in the global market, despite facing increased competition for large projects and a growing focus on regional markets.
A recent report by the United Nations Conference on Trade and Development (UNCTAD) said SMEs have a pivotal role in achieving sustainable development and can significantly contribute to cross-border economic growth, innovation, and job creation.
“In developed economies, notably in Japan and the Republic of Korea and in Europe, SMEs have been active international investors, especially in the period ranging from the 1990s until the financial crisis of 2008,” the report said.
It said while inward Foreign Direct Investments by SMEs is important, promoting outward FDI in developing countries can also bring development benefits, helping them grow, improve productivity and strengthen their resilience to external shocks.
https://businessday.ng/companies/article/how-smes-in-nigeria-others-can-be-drivers-of-growth-unctad/
Credit: Olamide Ologunagbe