The Lagos SME Bootcamp has provided support and capacity building to more than 700 small business owners during the eighth edition of its annual programme held recently in Lagos. The three-day event brought entrepreneurs together to address persistent challenges affecting small and medium-scale enterprises, particularly issues related to funding, intellectual property protection, and strategies for enhancing brand visibility in an increasingly competitive business environment.
Data from the Small and Medium Enterprises Development Agency of Nigeria shows that SMEs contribute nearly half of Nigeria’s GDP,about 48 per cent,and account for 84 per cent of the nation’s jobs. Despite their significance to economic growth, many SMEs continue to face difficulties accessing finance, securing legal protection for their innovations, and positioning their products effectively in the market.
While speaking at the event, Co-Founder and Convener of the Caladium Lagos SME Bootcamp, Ayo Bankole Akintujoye, noted that hundreds of businesses had experienced transformational growth as a result of the knowledge, tools, and networks gained through the programme. “Today, we are celebrating hundreds of businesses that have transformed their operations and built sustainable enterprises through the knowledge and connections gained here,” he said.
The bootcamp featured three plenary sessions that focused on crucial areas of concern for SMEs. The first session explored the legal and financial structures required to build resilient enterprises. Resource persons,including Oyinkansola Fawehinmi, Isah Aruwa, and Todimu Ige emphasised the need for proper documentation, regulatory compliance, and the registration of intellectual property. Fawehinmi stressed that business owners often create significant value but leave themselves vulnerable by failing to secure legal rights to their brands, processes, and creative output. She noted that these assets can generate revenue only when formally protected.
Another speaker, Israel-Ayide of Carpe Diem Solutions, encouraged entrepreneurs to make better use of storytelling as a marketing tool. According to him, many SMEs overlook compelling stories embedded in their daily operations. By sharing authentic experiences and showing the human side of their business, he said, entrepreneurs can build trust and convert prospects into loyal customers.
During the Founder’s Spotlight session, Co-Founder and Chief Executive Officer of Cowrywise, Razaq Ahmed, discussed regulatory hurdles, the importance of achieving product-market fit, and the need to prioritise customer-centric innovation. He urged entrepreneurs to build solutions that not only address market needs but also create long-term value.
The final plenary centred on business model transformation and leadership in unpredictable times. Speakers, including Godwin Tom of Sony Music Publishing Nigeria and Ashley Immanuel of Semicolon, advised participants to focus on building sustainable and scalable enterprises while remaining flexible and responsive to market changes.
Beyond the knowledge-sharing sessions, the bootcamp also hosted an exhibition marketplace showcasing over 75 businesses across various sectors. The event concluded with a pitch competition in which three entrepreneurs were awarded grants to support their business growth and expansion.
