12/06/2025
If you are an African and owns a business either in the UK or Nigeria and would like to be featured in the next edition of Invest Africa Media Magazine, please send me an Infographics, a quote or statistics that you would like to feature on my write up for the Magazine. See the extract of my article below:
Why Supporting Small Businesses Is Vital for Economic Growth in Africa and Beyond
By OdunolaTitilola Odunola Titilola Adelakun
Chief Editor: Mr Kunle Aderemi
| For InvestAfrica Magazine|
"In 2018, research by the UK’s Federation of Small Businesses revealed that small enterprises account for 99.3% of all businesses in the UK economy. Even more significantly, 60% of all private sector employment was attributed to these small businesses. These figures paint a clear picture: small businesses are the lifeblood of national economies.
In Nigeria, and indeed across Africa, the private sector—dominated by micro, small, and medium-sized enterprises (MSMEs)—plays an even more critical role. Though reliable data may vary, one thing is clear: the everyday businesses lining our streets, markets, and communities are not just economic agents, but also social stabilisers and engines of growth. From the woman selling roasted plantain (boli) on a busy Lagos street to the corner shop in Abuja supplying household goods, these businesses are indispensable."