FCMB Partners Experts to Support Entrepreneurs

First City Monument Bank has urged entrepreneurs, particularly startups to acquire knowledge and the right competencies to succeed and stand the test of time in a rapidly-changing business environment.

A statement from FCMB quoted 12 celebrated business leaders and entrepreneurs as urging the business owners during the Season 2 of the bank’s knowledge-sharing and capacity building series, Top-5-In-5 programme.

The bank said the series was designed to give Small and Medium-scale Enterprises practical insight into different business areas to inspire them to achieve optimal results.

Mr Emeka Eboegbune, the Group Technology Programme Manager, FCMB Group, offered tips on ‘How to harness technology in transforming your business.’

He advised entrepreneurs to leverage digital platforms to market their products and services.

Eboegbune said, “To succeed in the digital space, you need to focus on people who work with you. First, consider the skills of your employees.

“The more digital-minded employees you have, the easier it is for your organisation to grow and succeed. You need to continually refresh your product and respond very quickly to the change in the market.

“Keep your finger on the pulse of your business, know where customers are going to, why they go there and what they need. Data will help you with that.”

Speaking on “How to grow a local startup with global appeal”, Mitchell Elegbe, the Chief Executive Officer, Interswitch Limited, said entrepreneurs must have a unique business model and be clear on the products or services they are offering to the public.

He said, “Customers patronise you because they have a challenge, and you have created a solution to fix that challenge.

“A clear idea of the problem you solve translates directly to the success of your business. Particularly when it comes to monetising your solutions to hit the bottom line.”

In his presentation on ‘How to navigate tax issues as a small business owner’, Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouse Coopers, Mr Taiwo Oyedele, highlighted the importance of professionalism.