Access Bank Unveils Game-Changing SME Academy to Rescue Struggling Small Businesses

In a bold move to combat the alarming failure rates plaguing small enterprises across Nigeria, Access Bank has introduced its innovative SME Academy, a comprehensive training program aimed at equipping entrepreneurs with the skills needed to thrive in today's tough economic landscape.

The new academy represents a significant evolution in the bank's approach to supporting small and medium-sized enterprises (SMEs). Rather than focusing solely on lending and basic financial services, Access Bank is now prioritizing hands-on development to help businesses build stronger foundations and achieve lasting success.

During the official unveiling, Olumide Olatunji, the bank's Head of Retail Banking, highlighted how the program has already proven effective elsewhere. "We first launched a version of this academy in Ghana, where it delivered real, tangible improvements for participating businesses," he explained. With Nigeria's vast market potential and the critical role SMEs play in job creation and economic growth, bringing this initiative here was a natural next step, Olatunji added.

Leading the SME Banking division, Abiodun Olubitan provided more details on what participants can expect. The debut session will welcome 80 experienced business owners for an intensive three-day workshop. Key topics include refining organizational structures, enhancing financial management practices, and strategies to navigate common pitfalls that doom so many startups.

"SMEs are the backbone of economies worldwide, often contributing more than 80 percent to overall GDP," Olubitan emphasized. "Yet in Nigeria, far too many fold within their first five years due to issues like limited funding and gaps in essential know-how. This academy is designed to close those gaps, offering actionable insights that entrepreneurs can put to work right away to boost their chances of long-term survival."

By investing in this kind of targeted education, Access Bank is positioning itself as a true partner in Nigeria's entrepreneurial ecosystem, helping to turn the tide on business closures and foster a more resilient private sector. Entrepreneurs eager to join future cohorts are already expressing enthusiasm for what could be a lifeline in an increasingly competitive environment.