POSITION YOURSELF TO BRACE THE REALITY: Find Your Rhythm in the New World of MSME

Mike Ihezuo

MSMEs are broadly defined as businesses with turnover of less than N500million per annum and or less than 300 employees. Studies by the IFC show that approximately 96% of Nigerian businesses are MSMEs. 4% are government MDAs (Ministerial Departmental Agency) & corporations and MNC (Multi National Corporations).
Source: https://www.cbn.gov/ . This is Nigerian reality. Not same with East or West.

A small scale enterprise is a privately owned and operated business, characterized by a small number of employees and low turnover. The US Small Business Administration, SBA (note: ours is SMEDAN) states that small-scale enterprises generally have fewer than 500 employees within a 12-month period in non-manufacturing industries. (this is what you would tag big company in Nigeria.)

MSME is made up of *M*icro or cottage enterprises, *S*mall Scale Enterprises and *M*edium *E*nterprises – 3 of them. 99.8% of this 96% are *micro/cottage* enterprises, while 0.17% are *small* enterprises and 0.003% are *medium* enterprises.
Sources: Bureau Of Statistics, ChannelsTv.

1. *Micro Enterprises* – by CBN, 2018, are enterprises with less than 10 employees, and less than N5,000,000 (<N5m, excluding cost of land and buildings). Less than N5millions & 10 employees.

2. *Small Enterprises* – are businesses between 10-49 employees, and N5,000,000 to N50,000,000 (<N50m excluding cost of land and buildings). Between 10-49 employees & N5m-N50m/annum. Only 0.17% exist.

3. *Medium Enterprises* – are enterprises that have between 50 -199 employees, and N50,000,000 to N500,000,000 (<N500m excluding land and buildings). Between 50-199 employees & N50-N500m/annum. Terribly 0.003% exist. “inukwa!”
Refer to: Small and Medium Enterprises Development Agency (SMEDAN).

It appears the days of MNC & the corps are phasing out. Oil party days are numbered. Politics is big business if you can sell what you can for position you want. But a bigger business exist: more than politics – CREATE IDEAS, CREATE WEALTH, CREATE OPPORTUNITIES, CREATE FUTURE… AND TAKE PEOPLE TO IT. I mean, become an ENTREPRENEUR.
†:SHELL started like that.
† Coca-Cola started like that.
† McDonald started like that (Colonel Sander’s gratuity of $100 at age 65)
† Nestlé started like that.
† Microsoft started like that.
† Dangote started like that.
† Unilever (former: PZ) started like that.
† Amazon started like that. (Jeff Bezos coy, the richest man on earth)
† Facebook started like that.
† Zenith bank started like that. (with N20m)
† Coscharis started like that.
† Schlumberger started like that.
† CNN started like that.
† on and on and on…
*START SOMETHING TODAY!!!*
In next 10 years, I’ll return to put your company in the updated list.

Empower you and others. *Get angry, get tired of working for others*. Start making your money, brain, time, energy, resources and money start working for you.

Certainly, MSME is the way to go.

Leader Mike is a Consultant, Coach and Writer on Leadership, Finance Management, Motivation, Entrepreneurship and Morales. You can reach him through his phone number: +2348059992296