New consulting firm pledges to unlock funding and Investment for Nigerian SMEs

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Mohammed Thompson, Chief Consultant at Mo Thompson Premier Consulting Firm, has attributed the high failure rate of small and medium enterprises (SMEs) in Nigeria to a lack of knowledge and strategic planning. Thompson made this assertion at the launch of his consulting firm, which aims to support Nano and Micro Enterprises.

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“We have a lot of people who are into Nano and Micro Enterprises but lack experience, which leads to frustration,” Thompson said. To address this issue, his firm has partnered with financial experts and other organisations to provide strategic planning and support to the sector.

Thompson noted that many grants are available to businesses, but the lack of specialists to assist them in accessing these grants has hindered their progress. “We have found out that there are lots of grants within and outside the country that businesses can take advantage of, but lack of specialists to assist those in the sector… had been the bane of their achievement and cog in the wheel of their progress.

The consulting firm plans to help these businesses structure themselves in a way that attracts funding and investment. Thompson stated, “In a nutshell, this conglomerate would assist them to structure their businesses in a way that it would attract funding and investment.”

The firm has also launched a program to support over 10,000 military and police officers’ wives in the barracks, including the Police Officers’ Wives Association (POWA), the Naval Officers’ Association (NOWA), the Nigerian Army Officers’ Wives Association (NAOWA), and the National Police Wives’ Association (NAPOWA). The program aims to address poverty in the barracks, where there are many widows and orphans.

Thompson explained that the program would select beneficiaries in batches of 2000 over a period of five years. The initiative demonstrates the firm’s commitment to making a positive impact on the lives of these women and their families.

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