Obtaining finance, Finding customers and Infrastructure deficit top challenges of Nigerian MSMEs – PwC Survey

Click here to unsubscribe. pwc.com/ng   Obtaining finance, Finding customers and Infrastructure deficit top challenges of Nigerian MSMEs – PwC Survey PwC's MSME Survey 2020 Small Businesses in Nigeria have listed the most pressing problems impacting their operations to include obtaining finance, finding customers and infrastructure deficits. These are some of the findings revealed in our most recent report titled PwC's MSME Survey 2020- Building to last, which is the first in a series of surveys that aim to provide insights into a range of issues concerning Micro, Small and Medium scale enterprises (MSMEs) in Nigeria. Presenting the results of the findings, Esiri Agbeyi, Partner and Lead, Private Wealth Services, PwC Nigeria noted that Obtaining finance (22%), Finding customers (16%) and Infrastructure deficits (15%) were identified by respondents as their most pressing problems. One remarkable finding was how payment policies imposed by big corporates severely affected 33% of MSMEs whose payments were delayed for more than a month. This negative impact on cash flows is compounded when you consider the double-digit interest rates or inflation. It does not come as a surprise then when about 50% of the SMEs surveyed did not record growths above 20% over the last 3 years. The objective of the study according is to capture the challenges the MSME sector faces, identify opportunities to unlock growth and investment, provide solutions, mitigate risks and assess the outlook for MSMEs across industries. Findings covered the Nigerian business environment and market conditions, tax issues, access to finance, growth obstacles, payment policies, the role of technology and the impact of women on the MSME sector in Nigeria. Download the full report by clicking the button below. Download PwC MSME Survey 2020 Contact us Esiri Agbeyi Partner & Head Private Wealth Services emuesiri.agbeyi@pwc.com Omomia Omosomi Economist/Manager omomia.omosomi@pwc.com   Follow us         You're receiving this email because you are listed as a client of PwC or have opted to subscribe to one or more of our email distributions. If you'd prefer not to receive updates, you have the right to withdraw your consent at any time. © 2001 - 2020 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. Legal Disclaimer | Site Provider | Privacy Statement

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