Is the storm over?🌪️
The year 2023, and it’s impact on SMES ...
Hello Venturer,
In January 2023, Forbes presented its business observations and projections, highlighting the challenges faced by small businesses in 2022 and anticipating a more optimistic outlook for 2023. Experts emphasized resilience and plans for investment in marketing, technology, and staffing, while cost management and financial technology integration were anticipated trends. Cybersecurity was deemed crucial due to the projected surge in cyberattacks on small businesses.
However, 2023 has proven to be a challenging year for countries globally, and Nigeria is no exception. Economic and political headwinds, including high inflation, a weakened currency, and security concerns, have impacted businesses, leading to profitability struggles, job losses, and business closures. Join us on Thursday, December 7th, at Ventures Africa's LinkedIn Live event to discuss “The year 2023, and its Impact on SMEs.”
Our Speakers
Omolade Kolade Mayowa is the founder of HookedbyLade, Nigeria's first luxury crochet brand. She is a passionate crocheter with a background in architecture. Her intricate and vibrant bags have made her brand a favourite among discerning customers. Omolade is committed to providing exceptional customer satisfaction and envisions expanding HookedbyLade to include a crochet academy. Her story is a testament to the power of creativity, dedication, and turning a childhood passion into a thriving business.
Edna Frimpong is a dynamic professional who combines her expertise in Public Relations with a flair for shoemaking. A graduate of Public Relations from the University of Media, Arts, and Communications in Ghana, Edna launched her shoemaking brand, Ahofade, after turning her passion into a business. Ahofade is known for its unique and stylish designs. Edna's story is an inspiring example of how passion and purpose can come together to create something truly special.
VA Poll
In a recent survey, we asked our audience, “What has been the most significant factor affecting your business in 2023?” Results indicated that economic factors, as highlighted by 62% of respondents, have been the most influential force shaping businesses in 2023. Regulatory changes or government policies followed closely with 22%. Technological advancements had minimal impact, as indicated by 4% of respondents, while 8 % indicated that changes in consumer behaviour or market trends affected their businesses. Overall, economic challenges and regulatory considerations are the primary drivers of businesses this year.
BizHive Entertainment
The New Wave of Nigeria’s Soft Power
Soft power - To attract, persuade, influence, and shape preferences through culture. Nigeria has effectively done this through entertainment. Our music, films, and content transcend borders, commanding global attention. As master storytellers, we are leveraging new technologies to amplify our cultural influence. Read our latest magazine issue to learn more.