Dr Asue Ighodalo, using his Facebook page, Asue Ighodalo, asked: “in your own opinion, what is the biggest challenge small business in Edo State face?”
The very direct and profound (question) elicited several sincere comments from Facebook users. The challenges, as accentuated, by those who commented ranged from inability to access grants and loans, inadequate supply of energy and insecurity, high taxation, ‘subtle Agberoism displayed by PUWOV and LGA personnels’, and several other challenges as mentioned by users.
However, topmost in the challenges as commented on by the Facebook users was inabilities to access loans and grants, which was followed by epileptic power supply. “Sir As a small business owner, I will say funds & electricity Access to business loans.
The banks are very unserious to help with that. Sometimes we have to get help from loan sharks with very high interest rates.
I own a UNISEX SALON and one of the major issues faced is getting to buy fuel always, had two unisex salon in Lagos and I was hoping to come home to set up a branch this year but due to economic situation I had to even sell one and put on hold my plans to setup a business in Benin.
What I’m saying is small businesses are not expanding or growing because it’s difficult to access loans and we are spending lot of money on power.
When small businesses expand they employ more people,” one user commented.
Another user had this to say, “Firstly Edo State Small Business Owners lack access to funds from Government. Majority of the SMEs also lack awareness on proper packages that work for their business.” Another user had this to say; “Epileptic Electricity and very unregulated manner of operating business in Nigeria.” “Access to soft loans, epileptic power supply,” commented another.
With this very positive feedback, it is hoped that when Dr Asue becomes the governor of Edo State, challenges faced by small business owners in Edo State will be given needed attention as a matter of urgency.