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Business News of Wednesday, 18 November 2020

Source: The Nation

Excite Enterprise to fill business vacuum

A new product that aims to deliver digital solutions geared towards the automation, promotion, and day-to-day management of business processes for new and old Micro, Small and Medium Enterprises (MSMEs).

The product, known as “Excite Enterprise”, is a fully digital Business Development and Enterprise solutions provider, from the platform of Excite Africa-a partner business of Excite Incorporated, helps to optimise business performance in multiple sectors of the economy. According to the promoters, the product, which intends to debut in the Nigerian market with various simplified innovations, is designed to lead Micro, Small, and Medium Enterprises (MSMEs) on the pathway to success and sustainability.

Speaking about its impending launch, a Director of the Company, Bolaji Okusaga said: “Excite seeks to help businesses scale by providing them with access to business and financial management services, marketing tools as well as opportunities to list their products and services.”

Okusaga explained that although the National Bureau of Statistics (NBS) and PricewaterhouseCoopers (PwC) had noted that the MSME sub-sector provides 85 percent of total industrial employment in the country, the sector is under-optimised due to lack of valuable business knowledge and tools. This is the gap that Excite Enterprise aims to fill.”

Excite Enterprise, he explained, provides innovative services to develop and deepen markets for MSMEs thus providing entrepreneurs across the micro, small and medium business space an opportunity to reach consumers; boost brand names; sales; competitiveness; and improve rendered services. These businesses will also be able to access funding to scale up their potentials while also having entry to a bigger market.

Okusaga further explained that the access to funds will mitigate the limitation on the potentials for trade and integration into the formal economy caused by an inability to access funds, trade, and distribution capacity by registered and unregistered MSMEs.

Some of the solutions offered are Excite Market Place – Product Listing, Service Listing and Website and Showroom Creation; and Excite Marketing where Influencer Marketing services are rendered. The platform also provides Business registration services, SME training, and Access to Loan Facilities.

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