There is a wide disconnect between the increase in Nigeria businesses and unemployment. It’s often said that challenges are the crucible of inventions. Over 10 years ago, if you mention the words ‘Nigeria’ and ‘economy’, there’s a good chance you’ll conjure up images of sprawling oil fields, vast sums of petrodollars a handful of financial institutions and manufacturing industries but this is rapidly changing. Partial thanks to the recoiling recession accompanied by the global fall in price of crude oil.
Today, the new engines helping to power the Nigerian economy, the most populous country in the continent are small and medium enterprises (SMEs) distributed across diverse industries. The growth rates in startups over the last 10 years has rendered the assumptions that Nigeria SMEs contributes only 48% to the nations GDP a null and void. Indeed Nigeria’s SME market on the aggregate has formed the economic engine of the nation placing meal tickets on the tables of more than three quarter (3/4) of the nations working populace.
One would assume the rapid growth rate in startups and SMEs would pave the way for a proportionate employment of individuals in the business support professions in the country to occupy key functions of the business to drive further growth and sustainability but unfortunately, this is not so.
There are many reasons to why there is a disconnect between the growing pace of startups and SMEs in the nation and the lack of engagement with business support professionals. In House of Shield’s continuous skill enhancement program for Business Support Professionals, we open up our members to these mysteries and rewire them for desirability in the marketplace before potential clients and employers. In a couple of articles, we would discuss some of the disconnection in the increase in Nigeria businesses and unemployment.
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