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Diamond Bank urges SMEs to list on NSE

By on August 12, 2014

Diamond Bank Plc has advised operators of small and medium scale enterprises (SMEs) to list on the Nigerian Stock Exchange (NSE) and take advantage of the opportunities inherent in the capital market.

The bank specifically stressed the need for the operators to grow their small scale businesses to a level where they can be listed on the stock exchange.

Speaking at a forum organised by the bank for SME operators in Lagos at the weekend, the Executive Director, Lagos Bank, Diamond Bank Plc, Mr. Victor Ezenwoke, said the essence of the seminar was to make entrepreneurs to think outside the box.

“When we say listing, what people would think about is if they are going to be flour mills or other big companies. It is not. There are lots of benefits when you open up your channels and business for people to throw in ideas,” he said, adding that “Pascal Dozie set up Diamond Bank and he is no where near the bank today, but the business is growing. I don’t think Mr. John Holt is still around? So there are chains of businesses today running without core ownership control in it.”

He urged SME operators to develop tenacity of purpose and be focused on their business. Furthermore, he stressed the need for consistency in their line of business.

“The problem we have in business, especially when we are at the development stage is that what we look for is profit. I am not saying you should not go for profit, but endeavor to sustain what you are doing so that you will remain in business.

“Honesty is also very important. Have you collected credit from somebody? If you are not able to meet the deadline to pay, reach out to the person and tell the person the truth. They say a good name is much better than money,” he added.

According to the Chief Executive Officer and Founding Partner, Wild Fusion Limited, Mr. Abasiama Idiarest, who was the speaker at the event, technology plays a very important role in business development.
He said technology works in every business, adding that the participants must always choose the right technology.

“There is something for everyone in technology. It has permeated the society such that whoever you are considering, such as young, old or the uneducated, you can always reach them with technology,” he explained.

 

 

[This Day]