Tuesday, January 2, 2018

Achieving Profitability and Sustainability of SMEs in Nigeria: Why the ParkerStore is a Valued Partner


The diversification and development of the Nigerian economy is very much dependent on the growth of its manufacturing industry.  When the productive sector is vibrant and active, Nigeria and Nigerians will ultimately benefit. For example, the employment potentialof a vibrant manufacturing sector for the country’s citizensisenormous. It is therefore clear that stimulating the industrialization of Nigeria will accelerate the growth of the economy and the welfare of its people.
To achieve robust industrialization and sustainable economic growth, it is generally acknowledged that SMEs play a critical role. SMEs typicallyoperate with low amountsof capital and yet produce an enormous amount of the products used within a country. Countries that successfully support the effort of their SMEs to produce quality products are generally able to raise the standard of living of citizens within their country. These countries also succeed in getting their citizens to export such goods and this results in additional income for both the country and its people.

SMEs in Nigeria face numerous challenges. The FATE Foundation’s Research Report - Mapping Study of Nigeria’s Entrepreneurship Ecosystem - identified and grouped the challenges into seven main headings. These are (i) Policy & Regulation, (ii) Capacity Building, (iii) Access to Finance, (iv) Access to Markets, (v) Access to Resources, (vi) Business Support and (vii) Research and Development. Policy & Regulation has to do with the myriad challenges SMES face with dealing with regulatory and statutory bodies and government at all levels. Capacity building has to do with the challenges of the perennial shortage of talented and motivated staff as well as the personal limitations of the business owners themselves. Access to Finance has to do with the challenges faced because of the limited financial resources SMEs have and the difficulties experienced in unlocking capital from Nigerian financial institutions. Access to Markets has to do with the challenges of getting the SMEs’ products to customers as well as the difficulty in marketing and expanding the customer base, particularly those that are willing to pay. Access to Resources has to do with the challenge of knowing about and getting available helpwithout having to reinvent the wheel and getting it cost efficiently. Business Support has to do with the challenges of getting professional support or advisory services to navigate the competitive landscape as the SME tries to grow. Research and Development has to do with accessing knowledge and resources of institutions and corporate bodies that are set up to mentor and support the growth of SMEs and meeting their requirements.

Offshore Dimensions Limited’s ParkerStore can become a valued partner to SMEs in handling these challenges and growing their business. The Offshore Dimensions ParkerStore is a one-stop shop forindustrial, hydraulic, pneumatic and filtration products made by Parker Hannifin, the global leader in motion and control technologies and systems. Parker’s expertise spans the core motion and control technologies – electromechanical, hydraulic and pneumatic – as well as a full complement of fluid control systems; software and electronic controls; filtration systems; and refrigeration, instrumentation and sealing technologies. Parker’s nine technologies support 1,200 markets worldwide including Air conditioning, Agriculture, Food Processing, Factory automation, Packaging machinery, Plastics machinery, Paper machinery, Textile, Marine Transportation, Industrial machinery, Process, Oil & gas, Food & beverage, Bulk chemical handling, Welding, Fuel & gas delivery, Road Transportation, Construction machinery, Truck hydraulics, Power generation & energy andMining.

The ParkerStore provides guaranteed access to quality and global standard equipment and components for SMEs that require high quality equipment and components for their manufacturing or production facilities. The ParkerStore also saves money and time as over 3000 items are available locally for immediate use, reducing the need for expensive foreign exchange that have volatile rates as well as reducing the expensive downtime that can result from having to wait for items to be imported. The ParkerStore can thus become a valuable partner to SMEs who have to grapple with limited access to finance as well as limited access to resources.

The ParkerStore is also a boost for SMEs when it comes to capacity building as it provides training and workshops for building skills, for operating and maintaining equipment cheaply and reliably as well as for improving and upgrading manufacturing and production processes so they can operate more energy efficiently and at lower cost.ParkerStore employees are professionals trained to attend to customers and provide solutions to problems. They can be counted on to provide the support that SMEs need to grow their business and accelerate the industrialization of Nigeria.

The advantages of the Offshore Dimensions ParkerStore to SMEs in Nigeria are numerous. It will not only support achieving the profitability of the SMEs, it will also ensure they are able to grow sustainably.  Offshore Dimensions looks forward to being able to provide support to Nigerian SMEs as a committed partner to their development and thus also support the development of the nation. You can visit us at the Offshore Dimensions ParkerStore at Plot 14a, Block 53, Adebayo Doherty Road, Lekki Phase 1 Estate Lagos. You can also contact us at info@offshoredimensions.com or call us on +234-909-482-1641.

The Offshore Dimensions ParkerStorelooks forward tobeing a partner to Nigerian SMEsinachieving their growth.

Engr Seun Faluyi, FNIMechE, FNISafetyE,
Managing Director
December 20, 2017

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