First Bank urges SMEs to extend sustainability to value chain

First Bank of Nigeria Limited has advised Small and Medium Enterprises (MSEs) to extend sustainability principles to their value chain to enhance performance.

Sustainability according to Ijeoma Nwagwu, manager of First bank sustainability center is about making sure businesses are using the resources at their disposal in such a way that impact positively on people and society.

She told a group of SMEs who participated in the FirstBank Sustainability Centre (FSC) workshop to think sustainability in the life cycle of every their product.

Nwagwu said sustainable business is concerned to comply with the law, adding that business operators have to be conscious of international standard. “They have to provide a code of ethics or guidelines for their suppliers so that things are done in proper way. They can have the right governance and engage stakeholders about sustainability”, she told journalists in Lagos.

Ogechi Adeola, faculty member, marketing emphasized the need for SMEs to be very visible so as to is increase their top of the mind awareness among their target market.

“Once you do that your share of the wallet will increase. You need to think like a buyer. You need to find out why you would buy from the seller, what do they offer, when do they buy, what makes them buy, and, where do I buy and “, she said.

Speaking on ‘event marketing/public relation (PR) plan template’ she said the development of an effective marketing and communications plan is essential for the delivery of a successful event.

The objective of the workshop is to drive home the need for SME entrepreneurs to embed sustainable practices into their operations.

It is designed to enlighten participants that sustainability is not just about the environment, but an important step towards an efficient business model that reduces waste, cuts costs and increases profit.

HOPE MOSES-ASHIKE