‘Investing in SMEs can solve unemployment problem’

Information and Communications Technology firm, Gtext Media and Investment Limited, has said that developing the small and medium scale enterprise industry will go a long way in reducing unemployment in the country.

Speaking at a news conference in Lagos earlier in the week to announce eight new subsidiaries of Gtext, the Chief Executive Officer of the group, Mr. Stephen Akintayo, said that developing and supporting the SMEs sector would not only curb unemployment but also boost the economy significantly.

He said, “Tackling the rising unemployment crisis in Nigeria is not rocket science; it only takes dedication and visionary leadership. If we give priority to small and medium scale businesses and provide the enabling environment needed for them to thrive, they would grow and add significant value to the economy.

“As a major player in the IT sector, we have realised that part of the reasons why most businesses fail in Nigeria, especially the small enterprises, is that they don’t have the deserved support and also fail to do proper marketing. To solve this problem, Gtext has come up with the Digital Marketing School and SME House, two of our eight new start-ups which also include the G-Store that allows you to shop items from anywhere in the world.

“If you must know, with digital marketing you can reach millions of people around the world with your products for it breaks barriers and gets your message to the highest corridors. We have courses to train business people in maximising the full potential of their strengths and make them a huge success. Our target is to help over 10, 000 businesses by 2025 because we have seen that the only way today’s generation can take over the leadership of this great country is through IT.”

Akintayo, who also fingered the high interest rate on loans as part of the reasons the Nigerian economy is witnessing a series of problems of late, said government of the years had paid more attention to other sectors to the detriment of others like the SMEs which can drive faster growth.

He called for more support from the federal and state governments to address many of the problems along this line.

source:punch