Stanbic IBTC Collaborates With Enterprises Development Centre, Pan Atlantic University To Train Business Owners

Stanbic IBTC Collaborates With Enterprises Development Centre, Pan Atlantic University To Train  Business Owners 

The Stanbic IBTC Bank Plc, in collaboration with the Enterprises Development Centre of Pan Atlantic University, has offered platform for Capacity Building, Networking to business owners through its SME.

The capacity training of SMEs 2024 Edition, themed: "Join hands for Growth" is in line with the Stanbic IBTC’s directive of driving business growth and building capacities to create successful enterprises in the country.

The Head, Enterprise Direct, Stanbic IBTC Bank, Modupe Banjoko stated that the bank created the capacity building program to support business owners across Nigeria because it regarded the SMEs as the most influential aspects for economic development.

According to her, “At Stanbic IBTC, we recognise the importance of SMEs to the nation’s economy. The Stanbic IBTC SME Capacity Building Program is aimed at equipping SMEs with the skills and competencies to build sound and viable businesses, improve their capacity to access available credit, and enhance their ability for efficient funds utilisation.”

She said  the capacity building sessions were designed to enlighten and empower the entrepreneurs, adding that the financial institution implemented the capacity building program for individuals to enable business growth in the SME sector. 

Stanbic IBTC partners with Enterprise Development Centre (EDC), Pan Atlantic University to achieve this. The courses taken  include: Introduction to Entrepreneurship, Regulatory  frameworks, Business Model Canvas, Digital Marketing, Selling skills, Financial Management/Record keeping, Budgetting and Planning, and Digital Marketing for sales.

The Team Lead, Acquisition and Sales, Enterprise Banking, Stanbic IBTC, Chimezie Anumnu, enlightened the business owners on how to define SMEs saying theNigerian market undergoing rapid changes and facing various challenges, business owners have been confronted with the need to adapt and reposition for success.

"To achieve this, businesses are required to comply with regulatory documentation requirements and fulfil tax obligations. Stanbic IBTC recognises the importance of compliance and understands that having a Tax Identification Number (TIN) is a key requirement for businesses to access loans, preferably Joint Tax Board (JTB) Tax Identification Number (TIN)", he added.

Anumnu, in his words, said that Enterprise Banking which is the segment that caters for small and medium enterprises (SMEs), offer products like Business account such as Bizsmart, Blue Blossom account for women, Bizsmart Plus for the betterment of  their businesses. 

He explained further that the Biz Smart Account offers financial services and tailored business solutions. Make your money work as hard as you do to reach your financial goals while the Blue Blossom Account is tailored for women, better and easy access to business finance. It aims to help bridge the financing gap for women in careers/businesses and promote women economic empowerment in line with the CBN’s Nigerian Sustainable Banking Principles.

He enjoined the business owners  to have budget and planning process, good market skill and positive sales attitude as part of the marketing strategy. 

Certificates are issued to the business owners immediately after the training.