Successful female business entrepreneurs have advised Small and Medium Scale Enterprises (SMEs) operators and would-be business owners to focus on meeting specific needs and self-development to create a path towards building prosperous brands in the short and long-term.
Speaking during the Women’s Day edition of the United Bank for Africa (UBA) Business Series hybrid event held in Lagos last Thursday, the entrepreneurs stressed the need for SMEs to invest in themselves and have a proper working business structure as tips that will help build and grow their businesses.
The co-founder and CEO of Good Hair Ltd, Chioma Ikokwu; Founder of African Naturalists, Atilola Moronfolu; Founder of Hello Perfect, Onyeka Michael-Ugwu and Founder/CEO, NOUA Skin, Oshuwa Tunde-Imoyo, were panelists at the special women’s edition of this quarter’s UBA Business series who spoke on the theme: Her Story.
Ikokwu who stressed the need for meaningful partnerships and collaborations in business said, “It is important to start by solving a problem, you have to separate your lifestyle from your business and ensure that you are intentional about what you put out there. Also, get straight to the point about what you are offering your customers, no need beating about the bush,” she stated.
Buttressing Ikokwu’s point, Michael-Ugwu told business owners and would-be entrepreneurs to surround themselves with the right people as these are the people that will help tend to the growth of the business.
“I always tell people, build a team that can give their best to your business. When you treat your team right, they will put their all into growing your business,” she said.
For Moronfolu, the advantage of a proper business structure to one’s business should not be downplayed: “Get your structure right, you need to have a standard operating procedure that works whether you are physically present or not.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 35 million customers globally.
Operating in 20 African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.
