SystemSpecs boss, Obaro lists 6 things to do by MSMEs to succeed in business
Managing Director of SystemSpecs, John Obaro has laid emphasis on six critical things needed by Micro, Small and Medium Scale Enterprises (MSMEs) to be successful and grow unhindered.
These include funding, innovation, infrastructure, accountability, cost optimisation and market expansion/growth.
However, he was quick to add that all the six things are dependent on the level of technology drive in running the enterprise.
Speaking at the Vanguard Economic Forum on MSMEs, in Lagos, Obaro, represented by the firm’s Head of Strategy, Seun Adesanya, spoke on: The Role of Technology Adoption for Driving Growth and Innovation for MSMEs, saying SystemSpecs is not a financial institution but a facilitator.
While stressing that “What we do through Remita is that we help you move your money from where it is to where you want it to be,” he averred that a lot of opportunities exist in the country and described how technology could help small businesses start, grow, and succeed, using the example of Remita .
Remita, the flagship product of the company has been instrumental to the success of several companies including government agencies and small businesses in Nigeria in the last few years of introduction.
According to Obaro, “Our first priority should be creation of value; innovation. What could be unique in what you are bringing to the table? Innovation does not just come by sitting down; it comes from thinking, research, gathering intelligence, analysing reports, asking questions. As an MSME, the first thing to think of is what innovation am I bringing? Technology gives you access to information; where it has been done before, where it is currently being done, what are the challenges and what can I do differently? Technology helps in finding out what exists in the market”.
He noted that every serious business must take innovation at first line priority and argued that use of technology remains a way out of issues of infrastructural deficit in the country.
He averred that “technology could provide an alternative by simplifying processes for entrepreneurs. For instance, technology has revolutionised financial transactions with digital banking.
“Today, people don’t even need to go to bank to do any financial transaction, with the example of Remita, which has made it possible to pay any government agency at the comfort of your room.
Participants and MSME operators at the summit agreed that early use of technology in every business gives leverage to growth and stability in complex environment.
