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Connect Nigeria, in collaboration with Union Bank, one of Nigeria’s most trusted financial institutions, has announced the release of the Top 100 Emerging SMEs list.
The Top 100 Emerging SMEs initiative which was launched in February at the annual Connect Nigeria eBusiness fair for Small to Medium Enterprises (SMEs), aims to identify and celebrate some of Nigeria’s upcoming SMEs who have demonstrated laudable resilience by thriving in a challenging business environment.
At the preliminary stage of the process over 13,000 entries were received, from which 2,460 unique SME nominees that met the stringent requirements emerged. The selection process to choose the final list of 100 emerging SMEs involved a combination of voters’ polls and an assessment of the SMEs by the consulting firm, Sawubona. This was based on criteria including innovation, scalability and business sustainability evidenced by the existence of business company registration, effective book keeping methods as well as branding and online presence. Over 27,500 votes were cast in the race to select the finalists. The British Council and Lagos Chamber for Commerce and Industry (LCCI) were also part of the initiative set up to honour some of Nigeria’s top SMEs.
Speaking on the list, CEO Connect Nigeria, Emeka Okafor said: “Our passion is helping SMEs succeed. In addition to identifying and celebrating some of Nigeria’s top emerging SMEs, a major objective of this initiative was to demonstrate to the SMEs the need for the adoption of proper business structures and documentation in order to build bankable businesses which allows them access much needed funds for growth.”
Also commending the finalists, Union Bank’s Head of Retail Segments, Paul Aseme said: “On behalf of Union Bank, congratulations to all the Top 100 emerging SME finalists. As a bank that has been around for over a century, Union Bank’s commitment to supporting Nigerian SMEs stems from our deep understanding of the challenges these businesses face. This is why our SME segment at Union Bank provides banking solutions tailored to meet their unique needs and provide these entrepreneurs with the guidance and support they need to succeed.”
Union Bank’s sponsorship of the Top 100 Emerging SME initiative reiterates its continued support for Nigerian businesses. Through capacity building workshops for its SME customers across Nigeria, the Bank has helped provide much needed business advisory and support services to these growing businesses.
Last year, in partnership with Co-creation Hub (CcHub), Union Bank launched a first-of-its kind business acceleration program ‘Start up Connect’ which provides an opportunity for Nigerian companies creating technology-based solutions for the next generation African market, to partner with CcHub and Union Bank for rapid growth.
Union Bank’s commitment to SMEs has earned it the “Best Bank to Support Nigeria’s Small and Medium Scale Enterprises” award at the 2016 Business Day Annual Banking Awards.
Union Bank’s sponsorship of the Top 100 Emerging SME initiative reiterates its continued support for Nigerian businesses. Through capacity building workshops for its SME customers across Nigeria, the Bank has helped provide much needed business advisory and support services to these growing businesses.
Last year, in partnership with Co-creation Hub (CcHub), Union Bank launched a first-of-its kind business acceleration program ‘Start up Connect’ which provides an opportunity for Nigerian companies creating technology-based solutions for the next generation African market, to partner with CcHub and Union Bank for rapid growth.
Union Bank’s commitment to SMEs has earned it the “Best Bank to Support Nigeria’s Small and Medium Scale Enterprises” award at the 2016 Business Day Annual Banking Awards.
The top 100 Emerging SMEs list is available on the Connect Nigeria website – http://www.connectnigeria.com/top100/.
Photo Caption: Emeka Emuwa Chief Executive Officer (CEO)
