Nigeria SMEs must embrace tax laws, technology

November 1, 2016 1:21 pm1 commentViews: 29

ng-smesLAGOS, (CAJ News) – SMALL and medium enterprises have been advised to keep accurate records to meet needs of tax authorities as well as keep track of trends within their businesses.

They also need to automate processes like issuing quotes and invoices so that they can save costs, present a professional face to customers and free up time for tasks that add value to the business.

“As a business owner, you need to focus on things that really give you a competitive edge, like innovation and customer service. You can’t afford to waste time worrying about your books,” said technology expert, Nikki  Summers.

Summers is the Director at Sage One in East and West Africa, which is sponsoring and presenting at the upcoming SME Market Access Forum in Lagos.

The expert said sound bookkeeping is essential for a business’s financial well-being, which is why cloud accounting solutions have an invaluable role to play in helping Nigerian entrepreneurs to grow their businesses.

“Moving to the cloud is an opportunity to transform your business and succeed in Nigeria’s competitive economy,” said Summers.

“By automating business process, you can keep costs low, become better at
managing cash flow and streamline compliance.”

There are 37 million SMEs in Nigeria, the continent’s biggest economy.

CAJ News

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