Regulate SMEs With Human Face – Entrepreneur Tells Governments

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It has been asserted that only regulation with human face can create an enabling environment for Small and Medium Enterprises (SMEs) to thrive in the country.

Chief Executive Officer of a multipurpose investment organisation, Blue Diamonds, Mr Raphael Chukwujekwu, who stated this at the weekend in Abuja at the unveiling of a new product, Smart Blue Money Mobile App, urged governments at all levels not to introduce counterproductive regulations capable of stifling SMEs and killing young people’s initiatives.

Chukwujekwu said that government can make the environment business-friendly such that small businesses would be able to grow, adding that part of the activities of Blue Diamonds is to provide project financing to young people with viable SME plans.

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He also said that the Smart Blue Money Mobile App helps people to save, invest, manage and grow their income with a view to securing their future.

According to him; “In saving money, it creates a certain level of employment opportunities, because there is provision for agency in the app. Through it, people can be gainfully employed by downloading the app and helping people to transfer money, helping people to buy data, buy recharge cards or airtime, pay for cable subscriptions and electricity bills. By so doing, it reduces unemployment and adds to the nation’s GDP”.

Chukwujekwu noted that government has fared well in terms of encouraging SMEs and urged them to do better, adding that it can be achieved through more discussions, interface and dialogues.

He said that Blue Diamonds which started from a barbing saloon is now worth over N400 million with offices in Abuja, Lagos, Port Harcourt and Asaba, adding that the company now has a board of trustees made up of credible Nigerians as well as management that sees to its day to day activities.

He expressed concern that the greatest challenge of operating such a business is lack of public trust caused by activities of fraudulent companies who in the past promised so much to the people and delivered very little.

Chukwujekwu further said; “Part of the challenge is because of people’s past experiences. Trust is a key issue. God has helped us. We have been able to pass through every rudiment to come to where we are today.

“In Blue Diamonds, we under promise and we over deliver. In the last four to five years, we have had a successful track record. It has not been easy. God has been helping us because of the clear cut vision and focus that we have, just for one thing- to provide viable financial solutions that guarantees your financial future.

“Through our vision and our core values which is R-E-S-T- Respect, Excellence, Safety and Trust- a lot of people have been able to trust us with their hard earned money because we have been able to keep to our promises.”

Apart from the Smart Blue Money App, other products of the company include Land Banking and Direct Investment Scheme, and Gold-Safe Investment Bond.

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