SMEs bleed as business climate worsens

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Fatima Edwards, an Oyo-based small and medium-scale enterprise operator has been in business for about 12 years. For a larger part of this period, her business was booming. However, things took a turn for Fatima in recent months, as soaring prices have narrowed her profit margin.

She claimed the accelerating inflation has made restocking are inventory difficult. “The price surge has been so aggressive to the extent that sales realised from a given stock, including profit made, are insufficient to purchase the same quantity of stock,” she complained.

He explained that business has been frustrating recently as prices keep surging. “Sometimes I get frustrated but I encourage myself that I can always stay ahead of the curve by staying updated on market prices,” Edwards declared. Owoeye explained that customers have been complaining bitterly about the surge in prices. He would have to explain the dollar situation in the country to them.

“Nigeria’s economy needs to be growing at an average rate of at least 5 to 7 per cent to boost productivity and sustainable growth for businesses. Meanwhile, challenges such as high costs of borrowing and decline in disposable incomes, as well as weak consumer demand continue to dampen performance.”

 

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APC is a disaster. They brought nothing but pains, sorrows and penury to Nigerians. Avoid OfficialAPCNg

SMEs or the entire private sector! The astronomical increase in overhead costs should be studied as a course in universities.

Bleeding from injures sustained from Buhari's incompetence.

Please guys follow me I promise to follow back ebunoluwa080

APC=PDP has come to STEAL, KILL and DESTROY. Vote PETER OBI for a better Nigeria. PeterObi4President2023

I will throw a party when this regime finally leaves, my business surviving to this stage is nothing short of miracle

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