- Tuesday, May 7, 2024
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Seasoned business owners have
advised Small and Medium Scale Enterprises (SMEs) owners and operators on
winning tips that will help them run successful online businesses especially in
the face of growing competition and challenging business terrain.
Speaking during the United Bank
for Africa (UBA) Business Series hybrid event held yesterday at the bank’s Head
office in Lagos, the entrepreneurs and E-commerce experts agreed that SMEs
should start small and offer value-added services to their customers as these
are essential factors to help them grow their businesses into successful
empires.
The Chief Executive Officer,
Konga.com, Nnamdi Ekeh, the Founder/CEO RenDoll Fashion Brand, Reni Abina, and
Media Personality & Entrepreneur, Kaylah Oniwo were panellists at the event
who spoke on the topic; E-commerce: the Effects of Online Retail.
“There is the need for proper documentation.
Data is very important for business growth, as it gives you your conversion
rates, and lets you know what to do to improve these rates to boost business
patronage,” Ekeh said, as he emphasised that boosting security as regards
payment options is also very important.
On her part, Abina advised
E-commerce business owners and prospective owners to make use of reputable
online influencers to promote their businesses, as she said, “It is important
to find influencers in your field that are fitting to your brand and the kind
of business you do.”
“It is important for business owners to know
how their brands are being positioned; remember to track your growth properly
as this will help you to know what you are doing right or wrong at every point
in time,” Oniwo stated as she pointed out that the need for business owners to
take the storytelling element of their business very important.
Together, all the speakers at the
event noted that business owners should ensure that their businesses are duly
registered, with functional business accounts as this gives a large amount of
credibility to the company.
Speaking earlier, the Group Head,
Marketing and Corporate Communications, Alero Ladipo, said UBA organises these
business series frequently as they go a long way towards equipping customers
with the much needed strategies to help build their businesses.
She said, “This year alone, we
have had several conversations around business and health, personal finance and
now, we are talking about e-commerce. To us as a bank, it is important that we
have these conversations and the topic for this session is E-commerce, and is
very important as we wrap up the year, because this is the season for giving
and a lot of buying and selling will be going on during this period.
“As a financial institution that
cares about its customers, UBA is interested in bringing in great speakers
experienced business people and thought leaders to educate its customers and
Small business owners as they can then take the points discussed in these
series and work with them to improve upon and positively impact their
businesses,” she stated.
United Bank for Africa is one of
the largest employers in the financial sector on the African continent, with
25,000 employees’ group wide and serving over 35 million customers globally.
Operating in 20 African countries and in the United Kingdom, the United States
of America, France and the United Arab Emirates, UBA provides retail,
commercial and institutional banking services, leading financial inclusion and
implementing cutting edge technology.
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