Poised to lead Micro, Small, and Medium Enterprises (MSMEs) on the pathway to success and sustainability, Excite Enterprise says it has started to onboard merchants and sales partners to its platform.
Excite Enterprise is a virtual marketplace for small and medium business owners and provides platform for business owners, merchants and sales partners to showcase their goods and services.
It is an online business solutions platform with tools to get merchants register their businesses, organize their books using the book-keeping and invoicing tools, make tax remittances as well as list products and services for sale.
According to Ms. Oluwatomi Awotokun, Head, Legal and Compliance, Excite Enterprise aims at providing a set of tools to develop and deepen markets for micro/small and medium businesses, providing entrepreneurs across the sectors opportunities to reach consumers- boosting brand names, sales, competitiveness and improving services.
She said, “We are delighted and pleased to start the onboarding process, and also introduce our accounting tool, BizBook, which is one of its kind and part of our bouquet of offers from Excite Enterprise, our propriety online business solutions platform, to the public.
“At Excite, we will not relent until all small and growing businesses are formalised and scaled to enjoy the inherent potentials and advantages in the economy. For us, it can only be a better Nigeria,” she enthused.
The provision of business and enterprise solutions bundled with marketing and branding, has a compelling attraction to buyers and users. The Enterprise side, which contains the sales window and book-keeping would help sustainably to capture data, value and insights on the market as they trade.
The services rendered by Excite include, but not limited to: Growth and Expansion Tools which allows business owners to use the Excite BizBook and track their business growth. It would also allow them put their businesses in front of millions of potential customers with our Banner Advert services.
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Others include, listing of products and services at affordable rates. While the Automation Tools (Ease of Business) would allow them to get their business registered within a week, and pay taxes.
Overview of SMEs in Nigeria
The SME sector is the backbone of major developed economies, as well as important contributors to employment, economic and export growth. In South Africa, SMEs account for 91 per cent of businesses, 60 per cent of employment and contribute 52 per cent of total GDP.
In Nigeria, SMEs contribute 48 per cent of national GDP, account for 96 per cent of businesses and 84 per cent of employment.
Despite the significant contribution of SMEs to the Nigerian economy, challenges persist that hinder the growth and development of the sector. To join the league of world’s top emerging markets, Nigeria must overcome a series of obstacles. Most pressing are economic diversification, job creation and a more effective conversion of growth into what matters most: rising incomes for the country’s 200m citizens. One change-maker for all three goals will be the country’s vast network of micro, small and medium-sized enterprises (SMEs). Famed for their entrepreneurism, Nigeria’s SMEs span everything from hairdressers to app developers, from welders to film producers, fashion designers, small scale farmers and artisanal miners.
To support SME productivity, platforms need to be created to help handhold and nurture SMEs, creating a seamless business registration and enterprise optimisation process to funding tools, lowering costs and adopting pioneering technologies supporting distributive trade, creative economy, agriculture and mining which are crucial sectors that SMEs play in.
Excite exist to fill this yawning gap and targets a minimum of 2-3 million SMEs to be supported using our aggregation, business incubation and facilitation platform within the next 2 – 3 years.