FCMB engages SMEs in Oyo, offers free finance training

Hundreds of existing entrepreneurs and start-ups in Oyo State have benefitted from the seventh edition of the First City Monument Bank (FCMB) free comprehensive capacity building programme, tagged: “Business Enterprises and Sustainability Training (BEST)’’, for Small and Medium Scale Enterprises (SMEs).

The training, organised by FCMB Training Academy, the bank’s Business Banking Group, at the weekend, focused on business and skills development, marketing, finance and accounting for SMEs.Attended by over 300 entrepreneurs across various segments of business, the programme covered various topical issues like identifying business opportunities, surviving in a harsh business environment and improving productivity.Other major areas covered also include raising capital, optimising sales, cost and revenue management, among others.

It is one of the value-added offerings of FCMB to complement its efforts in the areas of lending and advisory services to SMEs with the objective of stimulating their growth and contributions to overall national development.

The Executive Director, Business Development of FCMB, Mrs. Bukola Smith, said the bank recognises the increasing role and impact of SMEs.“The BEST initiative is one of the innovative ways we empower, promote and lay a solid foundation for the long-term success of our SME customers. Without effective training and exposure, it could be quite difficult for their businesses to succeed.

“We believe this training will go a long way to impact positively on the SME operators who have participated in this programme. It will propel them to further develop themselves in order to compete favourably within and outside the Nigerian market,” she said.

Also speaking, the Head of Training Academy of FCMB, Sola Oyegbade, stated that the initiative is a proof of commitment to the growth and sustainability of SMEs.“We constantly keep our eyes on the critical need for SMEs to maximally contribute to the rapid development of the nation’s growing economy.

Several of our SME partners who have participated in earlier versions of this training are much better off today”, he said.One of the participants and Managing Director of Precious Gems Medical Consults, Dr. Olusola-Taiwo Omolara, described the training as “eye-opener’’.“The first session enlightened me on some matters that I would not have given due consideration to, as factors that drive business growth. But now with the knowledge gained, I will have a fresh approach towards doing business in my community,” Omolara said.