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as GIZ pilot model for selected businesses in clusters Experts in the country’s entrepreneurship landscape have called on operators of micro, small and medium enterprises (MSMEs) to tap opportunities in micro-franchising to scale their businesses and support reducing the alarming poverty rates in Nigeria. The experts, who spoke at a roundtable workshop on micro-financing themed ‘Empowering MSMEs: The Benefits of Micro-franchising’ defined micro-financing as a business model that empowers individuals by providing them with the tools and support needed to start small businesses with numerous benefits. According to them, in Nigeria, the model can significantly contribute to job creation, and foster economic growth by helping existing businesses reach more clients and partners to increase their revenue and promote sustainability.
They noted that these advantages lead to higher success rates and contribute to economic stability in local communities. Chukwudum Akwah, a business consultant, noted that the micro-franchise model could significantly contribute to job creation and reduction, fostering economic growth by helping existing businesses reach more customers and partners to increase revenue and promote sustainability. Akwah stressed that micro-franchising is much easier and more successful for MSMEs to start and doesn’t involve luxury products as it gives the advantage for expansion.
“You can start small and then scale up as you go further,” he said. “One of t.
