Reports in recent times have shown an inflationary gap across the global economy. Micro, small and medium-sized businesses (MSMEs) are far from recovering from the adverse effects of the COVID-19 pandemic yet, they are already facing new challenges relating to rising interest rates, labour shortage and high cost of operations.
Business owners now need to redesign their strategies to compete and thrive in the new world without growth barriers, whereby, even in severe recessions and economic downturns, they gain an advantage and grow consistently to expand into new markets. Entrepreneurs must understand that they are no longer just running company operations but building the right business ecosystems that can mitigate the effects of structural obstacles and economic policies.
CEOs, especially for small businesses, should learn to coordinate their strategies to align with the global economic trend, with a focus on developing long-term, sustainable impact across the entire value chain with measurable indicators. A company without great strategies will end up unprofitable, in huge debt and eventually close the business. Some executives launch strategies that are way too complex for the team to simply execute and sometimes, they focus only on the short term rather than mapping out long-term plans that will sustain the company’s vision ultimately.
Nigerian Canadian Development Expert, Bola Badmus has typically been a pioneer at the intersection of facilitating high-level engagements that promote digital trade, capacity building and strategic partnerships towards establishing sustainable pathways for SME growth between the African and North American corridors. Mr Badmus is the Managing Partner at BB Atlantic Group Inc., a solution-based consulting firm that focuses on building operational capabilities by deploying the power of business analytics and value-accretive capital to support private & public sector clients with the potential for global or regional scale.
Bola Badmus stated in an interview, “Evidently, we live in a world where success is shaped by one’s access to data, education and global opportunities. Frankly, my goal is to solve the biggest global challenges by entrenching diversity and investing strategic tools, capital and professional expertise to build great companies that would deliver both financial return and measurable impact.”
Bola Badmus has successfully scaled and/or settled over 50 innovative start-ups to Canada from Africa and officially enhanced operational capacity for over 120 businesses through strategic engagements with key stakeholders and professional advisory services. His most recent delivery was the Black Business Advancement Project, a $2.8 million dollars economic initiative he co-championed for the Government of Canada through Canadian Imperial Advantage, to build an inclusive business ecosystem for 100 Black entrepreneurs to thrive without systemic barriers by facilitating access to capital and scaling their businesses.
