The Chief Consultant, Mo Thompson Premier Consulting Firm, Mohammed Thompson has said that many Small and Medium Enterprises (SMEs) do not survive one year after they were set up as recently stated by the Nigeria Economic Summit Group because of dearth of knowledge as well as absence of strategic planning.

Speaking at the launch of Mo Thompson Premier Consulting Firm set up with the main focus of ejecting life into Nano and Micro Enterprises, Thompson said: “We have a lot of people who are into Nano and Micro Enterprises but lack experience which leads to frustration.

Hence, to address this problem, this outfit in conjunction with other partners such as Financial Services Expert, Institute of Chartered Accountants of Nigeria (ICAN) Financial Expert, Financial Advisory Experts are coming together to proffer strategic planning for the survival of this sector.

“We have found out that there are lots of grants within and outside the country that businesses can take advantage of, but lack of specialists to assist those in the sector including registering their companies in the United States of America, United Kingdom, Canada had been the bane of their achievement and cog in the wheel of their progress.

“In a nutshell, this conglomerate would assist them to structure their businesses in a way that it would attract funding and investment,” he said.

The passion to assist those in the sector has driven Mo Thompson to come up with a strategic plan to support more than 10,000 military and police officers’ wives in the barracks which include Police Officers’ Wives Association (POWA), Naval Officers’ Association (NOWA), The Nigerian Army Officers’ Wives Association (NAOWA) and National Police Wives’ Association (NAPOWA).

According to Thompson, the firm was obsessed to address poverty in the barracks where there are lots of widows and orphans, adding that to execute this programme, beneficiaries would be selected per 2000 for a period of five years.