How to finance your SME

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

Audi electrifies FC Bayern Munich (Photos)

Enabled by the partnership with Audi: FC Bayern Munich is the first international football club to drive using electric...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

SMEs are the foot soldiers of any economy. In developing economies, they are even more important. Small businesses largely do not make use of large machinery but collectively provide employment to many people.

These ‘local’ enterprises represent 90% of businesses and account for more than 50% of employment worldwide (World Bank).

According to World Bank estimates, 600 million jobs will be needed globally to absorb the growing global workforce. This makes SME development a high-priority activity for governments around the world.

In Nigeria and many emerging markets, most formal jobs are created by SMEs. However, access to funding is a critical factor in the state of SMEs within an economy. Where there are no robust funding frameworks designed to particularly cater to SMEs, fewer SMEs survive their beginning years and even fewer become profitable and sustainable over time.

According to the World Bank, access to finance is a key constraint to SME growth and the second most cited obstacle facing SMEs in emerging markets and developing countries such as Nigeria.

- Advertisement -

Solving the problem of SME financing at scale triggers effects on the economy that cannot be accurately quantified in terms of the monetary return value. But still, SMEs are less likely to obtain loans from banks than large firms.

Most small businesses rely on the personal funds of their founders and loans from family and friends to initially run their businesses. A lack of financing for SMEs has abruptly ended businesses or systematically driven large percentages of these SMEs out of business over time.

Read Also:  P&G Nigeria partners Bank of Industry to catalyze the SME sector through skilled Academy

What we do

A key area of interest for us at United Capital is the financing of these SMEs and young businesses. This is because they have a direct bearing on the health of the economy and ultimately the economic development of African countries.

We are also driven by our ideal of Africapitalism which bets heavily on the potential and power of private enterprise to drive economic change across the continent.

- Advertisement -

We have set up the SME Financing desk to assess SMEs and give them access to cheap and professionally structured capital to give them the best chance of survival, expansion, and scaling.

Our approach for our SME Finance Platform is holistic, combining our vast network of relationships with providers of capital with our world-class advisory and deal structuring expertise. The result is a financing service with fantastic rates and invaluable advisory.

SME financing in Africa is a strategic move. It strengthens our economies from the ground up, creates new jobs within each state and opens new highways to economic stability and prosperity for nations. “Our SME Finance Platform is designed to support businesses in Agriculture, Construction/ Real Estate, Healthcare, ICT (Information and Communication Technology), and Natural Resources. You can learn more about it and apply on our InvestNow platform by clicking here.

United Capital

- Advertisement -
How to finance your SME - Brand SpurHow to finance your SME - Brand Spur
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

How to finance your SME - Brand SpurHow to finance your SME - Brand Spur

Latest News

Nigerian Government doing a poor job on water/sanitation and health care, citizens say.

Even before the COVID-19 pandemic, a majority of citizens say they went without needed medical care and clean water...

Polaris Bank Appoints Segun Opeke as Executive Director

Polaris Bank Limited has announced the appointment of Mr. Segun Opeke as an Executive Director of the Bank by the Board of Directors and...

Nosir Releases the New Music Project, ‘My Episode’

The new record features 10 hip-hop tracks that admit his rap prowess. 20 September 2020 - Nosir, rap artist and founder of Spade Gospel...

Mega deals as Konga Freedom Sales goes live today

All is set for the 2020 edition of the Konga Freedom Sales, an annual promotion by the foremost composite e-Commerce giant targeted at celebrating...

Audi electrifies FC Bayern Munich (Photos)

Enabled by the partnership with Audi: FC Bayern Munich is the first international football club to drive using electric power. The stars of the...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -How to finance your SME - Brand SpurHow to finance your SME - Brand Spur