The Lagos State Government on Wednesday urged Micro, Small and Medium Enterprise (MSME) operators to go online, so as to boost their businesses.
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Lagos State Governor, Mr Babajide Sanwo-Olu, gave the advice during 5th Micro, Small and Medium Enterprise (MSME) Exclusive Fair, organised by the Lagos State Ministry of Commerce and Industry.
The theme of this year’s fair is ‘MSME in the Time of COVID-19: Survival Strategies to Beat the Odds’.
Sanwo-Olu, represented by the Secretary to the State Government, Mrs Folasade Jaji, said that the global economy was facing a major crisis that was projected to get deeper or persist for longer than expected.
He said that with social distancing and isolation being the preventive measures put in place to reduce the spread of the COVID-19 pandemic, a lot of businesses were facing difficult times.
He said that the survival and profitability of many businesses were under threat.
According to him, for entrepreneurs or business owners, innovation and creativity will play a key role in surviving the challenges posed by COVID-19.
”Today, more than ever before, the business world is going digital and business owners who are leveraging digital presence to offer and deliver their services have a huge advantage.
”This is the perfect chance to make a transition into the digital space and give your business the support it needs.
”Customers are relying solely on online businesses to get the products and services they need, while at the same time trying to stay safe.
”This crisis has illustrated just how real disruption can be and has also highlighted the gaps in operations and technical investments.
”It is now important for environment that would enhance the competitiveness and productivity of the creative and productive private enterprise, as well as sustain an innovative-driven economy,” he said.
The governor said that the MSMEs contributed immensely to the state’s economic growth, hence, the state government would continue to protect the businesses.
He said that the MSMEs had contributed significantly to not only the economic regeneration, but also to employment and wealth creation, poverty alleviation and qualitative standard of living.
”On our part in Lagos State, we shall continue to formulate enterprise-friendly policies and develop the requisite infrastructure with a positive business industrialisation of our beloved nation.
”It presents a good challenge for all players: public and private, to look inward and conscientiously develop the internal and external capacities of our local non-oil MSMEs for steady growth and global competitiveness,” Sanwo-Olu said.
The governor urged operators of MSMEs in the state to step up their efforts in the area of public-private collaboration.
He said that the collaboration should aim at showcasing “Made-in-Lagos” products and service.
Sanwo-Olu said that it should also aim at developing programmes that would intensify efforts to drive opportunities to foster growth of the MSME sector and diversify the overall economy.