Small and Medium Enterprise (SMEs) have been urged to embrace data, storytelling and digital tools for global competitiveness.
Business leaders at the 2025 Top 100 Fastest Growing SMEs in Nigeria event, noted that Nigeria’s SMEs must combine data-driven decision-making, digital tools, storytelling, and financial discipline to unlock new levels of growth and global competitiveness.
While speaking on a panel session on Digital Transformation for SME Growth, they noted that these are practical insights on how small businesses can scale sustainably in 2025 and beyond.
“Data is everything,” said Isaac Oladipupo, Co-founder/CEO of Afrilearn and Moneywise Africa said, noting that businesses must understand customer needs through data rather than assumptions.
“People buy solutions to their problems, not products and services. Data tells you the truth about your business and should guide your decisions,” he said.
He advised SMEs to consistently ask customers how they heard about their business and to use insights to refine products, save time, and stand out.
Oladipupo urged entrepreneurs to embrace storytelling as a core business skill. “No matter how automated the world becomes, people still buy from people.”
Adeshina Adewunmi, CEO of Trade Lenda, encouraged SMEs to begin their digital journey by defining the value they want to deliver and choosing the right channels.
He noted that social media remains a powerful organic tool for building trust and attracting customers.
“When you are offering value, people will follow you and not necessarily because of paid ads,” he said. “Knowledge is the foundation. Many people jump into business because they need a job, not because they understand the value they are offering.”
Adewunmi advised businesses to prioritise learning, research what works for their sector, and invest in websites and technology platforms that enable e-commerce.
Suliat Aliyu, head, Partnerships at Interswitch Limited, highlighted how digital tools are transforming SME operations by removing geographical limits and improving customer trust through verifiable transactions.
“E-commerce gives SMEs visibility and credibility. But compliance must be a priority because we operate in a regulated environment,” she said, warning that non-compliance attracts sanctions.
Chibuike Goodnews, CEO of Dochase Adx Digital Ltd, said social media algorithms now allow entrepreneurs to reach their target audiences faster than ever before.
“Your location does not matter. With the right digital channels, your product can reach the people who need it,” he said, while advising SMEs targeting international markets to design products and communication strategies suitable for global consumption.
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Tina Nwaiwu, director of sales at UCEE Microfinance Bank, emphasised the importance of financial data in helping SMEs access loans and scale operations.
“Start small, but track everything. The data lenders need your financial health which is your income and expenses,” she said.
Nwaiwu urged entrepreneurs to channel all business transactions through the bank to improve credit scoring and boost eligibility for financing.
