• Sunday, July 14, 2024
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BusinessDay

Traction canvasses support for SMEs

Stakeholders advocate SME inclusion in Nigeria’s sustainability reporting push

In its drive to encourage the growth of budding businesses in Africa’s beauty industry, Traction, a one-stop payment and business solutions platform, has reaffirmed its commitment to the growth of Nigeria’s Small and Medium Enterprises.

In a forum titled “Beauty Biz Roundtable: Unlocking Growth in the Beauty Sector”, speakers applauded the entrepreneurial spirit of many Nigerians, especially the new-age innovators in the key sectors of the national economy.

“Although our key business focus is to provide payment solutions and business tools to support the growth of businesses in Africa, we are also passionate about grooming a community of thriving MSMEs in Nigeria from as many sectors as possible, where ideas and solutions are exchanged amongst business owners. The Beauty and lifestyle sector is a fast-growing one and Traction is happy to be one of the platforms supporting that growth,” said Dolapo Adejuyigbe, Co-founder of Traction.

Awosika presided over an interactive session that covered topics like business financing, financial technology, and supply chains in the beauty and lifestyle industry.

“Over the years and in my various discussions with leaders in the African beauty and lifestyle industry, I have realised the need for more conversations and initiatives that focus on paving the way for growth for existing and upcoming entrepreneurs within the beauty and lifestyle sector. This is a great start and I look forward to driving more forums like this and seeing more collaborations within the industry,” said Awosika.

Read also: Fintech startup, Moni, unveils loan scheme to drive SMEs growth

The event had in attendance Ezinne Alfa, founder and CEO of Beauty in Lagos, Dupe Talabi, founder and CEO of Tasala, Ifedayo Agoro, founder and CEO of DANG Lifestyle, Stella Ndekile, founder and CEO of Nuban, and Joycee Awosika, founder and CEO of the Oriki Group who spoke about problems and trends affecting the Nigerian beauty companies.

The participants and business experts exchanged ideas and solutions on how to access opportunities such as business financing, advisory, product quality and wealth preservation and appropriate business coverage.

Agoro spoke about the efficient procurement of materials and resources for production while Talabi shed light on running an efficient staff base to boost business growth.

Adejuyigbe said as a brand committed to empowering and supporting the growth of African MSMEs, Traction will continue to explore new possibilities for growth for business owners through its innovative products as well as entrepreneur-driven programmes including events, webinars and online forums.