Renowned economist, Bismarck Rewane, insisted that most small businesses shut down due to cash flow constraints and macroeconomic instability.
Stating that small businesses are the engine of industrial growth in any economy, he said there are many opportunities small businesses could leverage to optimise returns.
Giving statistics on the number of businesses that have failed in their first five years of operation due to cash flow constraints, Rewane said Nigeria has the highest at about 85 per cent, while on the global rate 45 per cent and 60 per cent in emerging markets.
He spoke during a webinar, hosted by Sparkle Bank, on the current national economic landscape and its impact on small businesses, which aims to equip business owners with guidance on navigating the current challenging macroeconomic environment.
Differentiating between cash flow management and cashflow projections, Rewane…
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