LEAP Africa has hinged the growth of businesses, particularly entrepreneurial investments on effective institution of board of directors.The Acting Executive Director, of LEAP Africa, Femi Taiwo, who said this, noted that the LEAP Africa CEOs Forum was designed to support SME development in Nigeria and equip business owners to build sustainable organizations said for business to survival young entrepreneurs in the country have to see the need in setting board of trustees as to improve their business survival.
He said reports have revealed that they are high rate in which small business in the country strive for two or three years to grow and die by giving up on their talent due to lack of board of trustees.
“This year’s LEAP Africa’s 12th CEOs Forum tagged “Managing Growth for Profitability”, is focused to enable SME’s small businesses and micro business to understand the role corporate governance have to play in growing their businesses and the need for talents management as to play in making sure businesses prosper.
He added: “Right now the country is presently in recession, just striving to come out and business owners cannot afford to lose customers. Still you have to keep to the quality you have been known for, so it time for entrepreneurs to be more innovative than ever.
“For you to grow in time like this businesses need to pay more attention to financial inclusion and also cash flow and quality must remain” He urged entrepreneurs to tap into the current economic downturn and make more gains that will help build their brands among others.
He said the CEO Forum has exposes business owners to the importance of planning for their succession and instituting effective systems and structures, and values within their organizations, to ensure long-term sustainability.
According to the Founder of LEAP Africa, Ndidi Nwuneli, “In the previous CEO Forum, including this year’s, we have been able to capture so many young entrepreneurs, and talk about the level of business folding up may be you run a business for like a year or two and is no where to be found again.