As 2025 closes, experts urge Nigerian SMEs on strategy to maximise profits
With just about two months left in 2025, small and medium-sized business owners across Nigeria are under pressure to finish the year strong. As more consumer spending and intense competition are expected, any move can make or break a business’s annual profit line.
In the latest episode of SME Clinic, a BusinessDay Television (BDTV) programme that explores practical strategies for Nigerian entrepreneurs, experts say this is the time for agility, strategic partnerships, and smarter financial discipline.
Success Ajilore, a chartered accountant and founder of the Business Transformation Network, urged business owners to ensure their operations match their industry trends, while keeping a tight grip on finances.
“Business owners have to be extra agile and proactive according to the different trends of their industries while cutting their coats according to their sizes,” Ajilore said, warning that many small businesses lose money in the final quarter of the year, because of poor planning and overspending.
She advised entrepreneurs to “understand and maintain financial discipline” by prioritising business needs and curbing personal expenditures.
But going alone will only take a business so far, she said, adding that partnerships within the same industry could help reduce costs and open up new markets.
“Zero out on trust issues and be prepared to follow the lead of those who have gone ahead of you,” she said. “Their wins and losses are indicators to teach you on your respective journey.”
Read also: From hustle to scale: Why Nigerian SMEs are falling short
According to her, such alliances can expand a company’s reach, improve credibility, and unlock access to fresh customers. “Networking is about building real relationships that foster cooperation and enable access to chances,” she said, urging entrepreneurs to attend industry events and genuinely engage with others rather than remaining “lethargic.”
Ozioma Eze, another of the panellists, said that visibility is now inseparable from profitability. She advised businesses to pick up digital skills that could help them get ahead of the competition. This includes building a strong social media presence and investing in a legitimate business website to boost credibility and reach a global audience.
“One must leverage digital tools in these times for a wider reach to customers and all-round growth,” she said. Eze encouraged SMEs explore Google Ads and other online campaigns to improve reach, measurement, and online visibility that translates to revenue.
The unanimous vote was that profitability in the final months of the year is not about luck but about strategy amid current economic headwinds. As Ajilore put it, businesses that survive and thrive are those that “take time to know their industries, build trust-based networks, and leave a social impact that outlives the financial year.”
