Get Guardian on GoogleThe National Chairperson of the Society of Women Accountants of Nigeria (SWAN), Mrs. Blessing Osakwe-Ogo, has said some businesses make sales daily but still struggle to pay their bills because of lack of proper financial records and the knowledge to interpret them.
Osakwe-Ogo, who stated this while delivering her speech at the Accounting for non-accountants workshop 2026 themed ‘Business Made Easy: Practical Financial Skills’ organised by SWAN, maintained that in today’s business environment, entrepreneurs must understand not only how to manage their money but also their statutory obligations, tax responsibilities and opportunities available under relevant laws.
She said: “Have you ever wondered why a business can make sales everyday and still struggles to pay bills? Or why an entrepreneur can work tirelessly, yet find it difficult to explain whether the business is truly making a profit? The problem is not lack of customers or hard work; it could be as a result of: lack of proper financial records and the knowledge to interpret them. You are not able to differentiate between you and the business.
“You cannot successfully grow what you do not properly measure and you cannot protect a business whose financial position you do not understand. This is why SWAN considers this programme so important.”
She stated that the objective is to equip entrepreneurs and business owners with practical knowledge of basic book keeping and accounting records to help them track income and expenditure, monitor profitability, control costs and make informed business decisions.
“Our aim is to help business owners avoid costly mistakes, improve compliance, manage their resources wisely and build businesses that are profitable, resilient and sustainable,” Osakwe-Ogo said.
In her welcome address, the Chairperson of the Organising Committee, Mrs. Ruth Oyinbrakemi Igwe, noted that in today’s challenging economic environment, financial literacy is no longer a skill reserved for accountants as it is an essential tool for entrepreneurs, traders, professionals, employees and business managers seeking to make informed decisions, manage resources effectively, avoid penalties and achieve sustainable growth.
Igwe stated that the theme of the workshop reflects SWAN’s commitment to simplify financial concepts and equip participants with practical knowledge they can apply immediately.
“Many promising businesses struggle not because they lack opportunities, but because of poor financial records, inadequate cash flow management, ineffective pricing and limited understanding of profitability,” Igwe said.
During the workshop, there were three paper presentations. The first titled ,‘Understanding your Money: Simple Skills for your Business’ was delivered by Mrs. Martina Amadi; the second paper titled, ‘From Sales to Profit: Making Better Financial Decisions’ was presented by Mrs. Agidi Christiana, while the third paper titled, ‘Growing your Business: Financial Planning, Sustainability and the New Tax Rules’ was delivered by Mr. Peter Adebayo.
