Expanding Small Business Program(ESBP) 2021 REPORT
- February 15, 2022
- Posted by: AFI
- Category: Uncategorized
Nigeria boasts many startups and small businesses. To quote an online article published by The Cable on December 14th, 2021, ‘’… the Nigeria Bureau of Statistics (NBC) report shows that the total number of enterprises in Nigeria was estimated at 41.5 million, spread out across the 36 states in the country. The breakdown further shows that microenterprises constitute a high 99.8% (41.4 million) of total SMEs. The country enjoys a high presence of small businesses, and this form of business predominates any other form of businesses in the country…’’
Unfortunately, many startups do not make it past the first five years of existence due to several factors. Therefore, in line with AFI’s Corporate Social Responsibility, a highly discounted program was specially curated for a group of interested micro, small and medium enterprise owners who were taught vital tools for business expansion. This program is called the Expanding Small Business Program.
Africa Franchise Institute held its Expanding Small Business Program (ESBP) in collaboration with Fate Foundation between 28th October and 25th November 2021. It incorporated an intensive five-week course, which equipped these MSME’s with the prerequisite knowledge required to scale, through the franchising model, followed by a series of industry tailored close-gap consultation sessions with a team of consultants. The ESBP Participants included 10 small businesses representing the Food, Service and Retail Industries.
The course ran as a hybrid course comprising virtual and physical classes. The courses were deployed virtually while the Close Gap sessions were held physically to enable consultants guide them through a DIY methodology for improving their business processes. The physical sessions were intensive learning hubs where participants were exposed to standard operating procedures among other tools essential to developing solid structure and systems required for them to dominate locally and expand globally.
The Expanding Small Business Program had the following core courses in its curriculum: Building Blocks to Successful Business Scaling & Foreign Expansion, Intellectual Property, Contracts, Franchise & Regulation, Business Operation Essentials, as well as Packaging, Marketing & Attracting Investors & Franchisees. The Elective courses offered included Understanding People and Projects, Finance & Bookkeeping, Understanding branding & Public Relations, and Business Ethics & Governance. These courses were facilitated by seasoned industry experts.
Participants left the program with considerably more knowledge and tailor-made processes they could implement in their businesses.
Are you interested in business expansion or franchising opportunities? We have a plethora of programs you will benefit immensely from. Do look up our program plan and sign up.