Achieving Financial Stability For Small & Medium Enterprises

Financial stability is the ability of a company to meet all necessary obligations even in the midst of adverse situations.

According to the National Bureau of Statistics, small and medium scale enterprises (SMEs) in Nigeria have contributed nearly 50% of the national GDP in recent time. The critical role SMEs play in the growth, productivity and competitiveness of the economies in both developed and developing countries is acknowledged universally and cannot be over emphasized. SMEs are identified as a major driver in achieving equitable and sustainable industrial diversification and a contributor to job creation, hence attention has to be given to SMEs to ensure sustainability and continuous growth.