The Federal Capital Territory Administration (FCTA) is poised to strengthen local entrepreneurs and businesses operating in the Federal Capital Territory to embrace innovation and technology with a view to position them for profitability and sustained growth, thereby improving the standard of living of the residents of the FCT and to ensure advancement of the Gross Domestic Product (GDP). 

This was revealed by the Ag. Head of Service of the Federal Capital Territory, Mrs. Grace Adayilo, at the 11th Edition of the ‘Business 360°’ organized by Abuja Enterprise Agency (AEA) at the AEA Complex, Jahi District, Abuja on Thursday.

A statement signed by AEA's Team Lead, Corporate Communications, Mr. Emmanuel Tortiv says the Head of Service emphasized that the FCT Administration in line with the ‘Renewed Hope Agenda’ of President Bola Tinubu, GCFR is giving much priority to the entrepreneurs by supporting them to build their businesses through provision of contemporary entrepreneurship training, access to finance and other support incentives.

The statement adds that the Ag. Head of Service, while delivering her address at the event with a theme: “Creative Branding, Innovative Packaging as Enterprise Promotion Tools for Market Acceptability”, opined that ‘when one retires from new ideologies, the person becomes expired instantly in the contemporary environment.’

She advised the entrepreneurs to always remain keen in conceiving and innovating new business ideas to enable them compete conveniently at the international level.

Speaking earlier, the Ag. Managing Director/CEO of Abuja Enterprise Agency, Mr. Chudi Ugwuada-Ezirigwe revealed that the ‘Business 360°’ seeks to address the contemporary challenges bedeviling the MSMEs: limited access to market, inadequate knowledge on regulatory requirements, bureaucratic bottlenecks, limited access to credit from financial institutions exacerbated by the high interest rates, stringent collateral requirements among others.

His Words: “In line with Agency’s desire towards addressing and overcoming these challenges that the ‘Business 360°’ was initiated as a platform where Business Regulatory institutions, Public and Private Business Practitioners and other business experts are invited to enlighten and educate MSMEs on best possible ways to mitigate the identified challenges and provide them with contemporary Business Best Practices.”

He called on the entrepreneurs not to be discouraged by the predicaments and challenges of their businesses but rather confront them with bravery; adding that every business risk taker is a successful business individual, who smiles at the appropriate and ripe time.

Also speaking at the occasion, the Senior Special Assistant to the President on Job Creation and MSMEs, Mr. Temitola Adekunle Johnson (MFR), represented by the Project Lead, Job Creation and MSMEs, Mr. Shinna Agoi said that branding and packaging enhances the purchasing decision of consumers and reflects the identity of a company among other functions.

Mr. Agoi charged the potential MSMEs to develop creative and innovative mindsets in order to ensure success in their endeavors and to aid in their competitiveness at the global market.

Highlight of the event was the staging of a Panel of Discussants who dissected the theme in an interactive session with most of the MSMEs present. 

The Ag. Head of Service later took a tour to the Exhibition Pavallion at the venue where an array of products and services were on display.