An entrepreneur, Mrs Precious Aremu, on Wednesday said that the number of small businesses were declining because of their poor perception and use of the social media.
Aremu, who is the Chief Executive Officer of Panlania Confessionaries, told the News Agency of Nigeria (NAN) in Lagos that social media had the potential to improve profitability of small businesses.
According to her, global businesses are becoming very dynamic and called on interested entrepreneurs to harness the opportunities of social media to become globally competitive.
“Since the world is witnessing increasing business innovations, entrepreneurs owe it as an obligation to key into the dynamics to reach the larger segment of the market.
“These Internet platforms can reach virtually almost all parts of the globe.
“As this is one of the most recent ways and potent avenues of bringing out one’s products to the globe, “ she added.
She urged non-governmental organisations that promoted entrepreneurship to conduct regular workshops on ways to improve the distribution chain of young businesses.
“The programme should be quarterly and must be centered more of new ideas on how to maintain the existing distribution chain,” he said.
On patronage, she urged the state government to enact a bill to compel residents in Lagos to patronise small businesses in the bid to encourage their growth.
She also said that sustained patronage of the emerging businesses would create more employment opportunities.