MSMEs play a catalytic role in the economic transformation of any Nation. These contributions range from substantial contribution to the Gross Domestic Product (GDP), employment generation, export, increased local value addition and technological advancement.
Survey reports released by the Small and Median Agency of Nigeria (SMEDAN) reveals that there are over 41 million Micro, Small and Medium Enterprises (MSMEs) in Nigeria, which employ over 59 million persons (i.e. 86.3% of the National workforce) and contribute over 49.8% to the Nation’s GDP. The report cites that these MSMEs are performing below expectation and a lot of factors account for this, including lack of infrastructure, financing and access to affordable professional services. While some MSMEs do not consider the roles of professionals as critical, some do but simply cannot afford them.
Africa’s fast-growing economy has attracted the rest of the world and entrepreneurial interests have been kindled so greatly amongst young Africans now than ever before, which explains why the number of startups has grown exponentially over the past decade. With the increase in commercial awareness and innovations have come the need to assist Africa’s businesses succeed and compete globally, even as they attract investments.
This is why we are here - To support MSMEs through some of their difficulties, by providing access to legal services they cannot ordinarily afford.