Business owners who participated in Access Bank’s first-ever SME Academy have described the three-day program as transformative, providing clarity on tax compliance, business structuring, and financial management areas that many had struggled with while running their enterprises.
The training, attended by over 100 entrepreneurs, focused on practical challenges faced by early-stage businesses, including valuation, record keeping, customer retention, and navigating recent government policies. Many participants highlighted the sessions on taxation and business planning as particularly impactful, noting that the training corrected misinformation circulating among SMEs following the latest tax policy changes.
Gbenga Agoye of Grandmade Ltd., a logistics and export company, explained that the tax session resolved long-standing confusion in his operations. “I have been struggling with that, so I quite had an impressive knowledge about what it is and how to go about it,” he said. He also praised the leadership and customer service classes, noting that they strengthened his operational discipline and service delivery.
Mosebolatan Ladi-Lawal of M2M Stores added that before attending the academy, she had limited understanding of both old and new tax requirements. “We were really taught about it in this training, and I believe it will help me scale better,” she said, noting that learning about VAT, business plans, and the Pro-Max tax system offered practical knowledge she previously lacked. She also recognised the importance of structuring her business, explaining that a proper framework allows her to diversify while ensuring smooth management in her absence.
Abiodun Olubitan, Group Head for SME Banking Products at Access Bank, said the program was designed for SMEs operating for four to five years and encountering growth challenges. “Valuation is a problem, taxation is another key thing, finance management. Then we had to delve into customer service so they are able to build their customer base and retain them,” she said.
Olubitan emphasized that the inclusion of detailed tax education was motivated by confusion over recent government policies. She explained that Access Bank aims to break down the rules for SMEs to understand how compliance affects their growth prospects. She added that while government policies are not inherently harsh, lack of guidance often makes compliance seem difficult.
The bank also supports unregistered businesses by recognizing cash flow on personal accounts as a basis for providing credit. “We can see you even at your state as an individual. We’ve also put together facilities to support them using that cash flow so that we can give them financial support, grow with them, and give them opportunities to now register their business and start identifying as an SME,” Olubitan said.
She encouraged entrepreneurs to stay informed, take advantage of available information channels, and approach business growth as a long-term commitment. “Entrepreneurship is not a sprint, it’s a marathon,” she concluded.
