To equip small and medium enterprises with financial intelligence, Bratim, a leading accounting firm, has trained over 60 SMEs on bookkeeping and effective marketing with minimal budget.

Speaking at the SMEs conference tagged ‘Financial Intelligence for Entrepreneurs -Linking Accounting, Marketing and Operations Management for Better 2019’, the Managing Director of Bratim, Tejan Ibrahim, said they organised the conference to bridge the knowledge gap for SMEs which is hindering their efficiency.

“We discovered that there are no support systems for the SMEs. Also, that there are a lot of things that the SME owners need to know on how to run their businesses efficiently;  how to keep their records intact, knowing the value of every naira they are spending and how to make their business visible. This is why we put the SMEs conference together, to enlighten them,” he said.

Speaking on ‘Basic Accounting for Intelligent Decision Making’, an institutional banker, Afeez Ismaila, said when SMEs have their businesses structured and have good book keeping systems, banks will be willing to give them loans.

On managing successful operations in Nigeria, the founder of Dimanche, Shehu Yakubu, said SMEs should train their staff to understand the value of money spent.

One of the participants and owner of Muda by Maryam Limited, Maryam Dahiru shared her experience thus: “I have learnt the importance of keeping our books straight and how we can leverage on that to expand our business either by getting loans or access to other services.

“Also, I have learnt more about advertising and how I can advertise cheaper. So, it has been helpful.”

Samuel Oshio of EPICS Limited said he learnt how to manage his business better by separating himself from the business. “You don’t use the money you get from your business as personal money,” he added.

Source: Daily Trust