80% MSMEs optimistic about business opportunities

Home Business 80% MSMEs optimistic about business opportunities —SURVEY

80% MSMEs optimistic about business opportunities —SURVEY

According to a survey conducted by the Fate Institute in 2022, about 80 percent of Nano, Micro, Small, and Medium Enterprises (NMSMEs) in Nigeria expressed optimism about business opportunities in the country. The survey covered 8,611 businesses across all states and the Federal Capital Territory. It evaluated entrepreneurship based on five pillars: business performance, skills acquisition, innovation and technology adoption, perception of opportunities, and the enabling business environment.

Despite the challenging business environment in Nigeria, the majority of entrepreneurs remained positive about the future. The overall entrepreneurial index score for Nigeria in 2022 was 0.58 out of 1.0, indicating slightly better than average performance in entrepreneurship development.

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