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Seizing the $350 Billion Global Market Opportunity: The Outsource To Nigeria (OTN) Initiative What : On Monday, March 4, 2024, Nigeria embarked on a transformative journey with the launch of the Outsource To Nigeria (OTN) Initiative under the visionary leadership of Vice President Kashim Shettima. This groundbreaking initiative marks a pivotal moment in Nigeria's economic landscape, as it sets out to harness the immense potential of the $350 billion global outsourcing market. With a focus on business process and technology-enabled outsourcing, OTN heralds a new era of economic empowerment and growth for Nigerian businesses. Why ? Unleashing Nigeria's Potential: Nigeria, with its vibrant workforce and burgeoning tech ecosystem, stands poised to become a global outsourcing powerhouse. The country boasts a youthful population, with over 60% under the age of 25, providing a vast pool of talent ripe for skill development and employment opportunities. Moreover, Nigeria's strategic geographical location offers proximity to key markets, making it an ideal destination for outsourcing services. What Next ? Exploring a Lucrative Market: The global outsourcing market, valued at $350 billion and projected to grow further, presents a golden opportunity for Nigeria to position itself as a leading player in the industry. By leveraging its competitive advantages, such as a skilled workforce, cost-effective solutions, and favorable business environment, Nigeria can attract a significant share of outsourced projects across various sectors including IT services, customer support, finance, and healthcare. Driving Economic Growth and Job Creation: The OTN Initiative holds the promise of driving substantial economic growth and creating millions of jobs across the country. By nurturing a culture of entrepreneurship and innovation, empowering small and medium-sized enterprises (SMEs), and fostering collaboration between the public and private sectors, OTN will catalyze inclusive development and alleviate poverty, particularly in rural areas. This empowerment of local businesses will not only drive economic diversification but also foster a sense of pride and ownership among Nigerian entrepreneurs. The G3 Roundtable Factor : As Nigeria embarks on this transformative journey with the Outsource To Nigeria (OTN) Initiative, it is poised to unlock its full potential and emerge as a global leader in the outsourcing industry. With strong leadership, strategic investments, and unwavering commitment, Nigeria can seize the $350 billion market opportunity, driving economic prosperity, and transforming the lives of millions. The time to outsource to Nigeria is now, and the world is ready to witness the rise of Africa's largest economy in the global outsourcing arena. G3 Roundtable is ready to assist you identify the opportunities and most profitable strategic options in Nigeria’s vast economy and human resources.

Helping Businesses Thrive in Thailand: Services Expert at Competency Business Solutions For those aspiring to initiate a business venture in 🇹🇭 Thailand, Competency Business Solutions (CBS) offers highly effective services tailored for entrepreneurs seeking to expand their current enterprises. Established in 2022, CBS Thailand has been dedicated to providing premier services to businesspeople from Myanmar, facilitating their transition to the Thai market with ease and speed. Over the course of more than a year, we have successfully established and launched over 100 companies in Thailand. Embarking on a new business venture brings its own set of challenges, from choosing the appropriate business type to understanding the specific needs that arise during the establishment process. Prior to commencing a new enterprise, consider: ✅ The suitability of the business type for your objectives ✅ The necessary licenses required for application ✅ The essential information needed for operational management CBS is currently offering complimentary consultations with our internationally seasoned professionals to guide you through these considerations. When you are set to start a new business in Thailand, CBS offers comprehensive services to facilitate your venture: 🏢 We can assist in establishing a fully foreign-owned company. 🏢 We also support the formation of Thai companies with Thai (51%) and foreign (49%) ownership. 🏢 Our services extend to connecting with international banks to establish robust foreign companies. 📇 We guide you through the application process for the necessary licenses, ensuring compliance with Thai laws and regulations. 🏦 Following the company's establishment in Thailand and the commencement of operations, we arrange for the opening of the requisite corporate bank accounts. 📑 We provide precise services for business statistics and revenue-related matters. 📑 Our team is equipped to assist in the legal submission of annual statistics, adhering to the regulations set by Thailand's Department of Business Development (DBD). 📑 To prevent business delays caused by complex statistics, we offer auditing services conducted by skilled accounting professionals. We guarantee that these business services will be delivered promptly and efficiently. Contact 𝗖𝗕𝗦 To address your needs swiftly, please contact CBS using the information provided below. We are committed to resolving your challenges 🇲🇲 𝐌𝐲𝐚𝐧𝐦𝐚𝐫 𝐎𝐟𝐟𝐢𝐜𝐞 +𝟗𝟓𝟗 𝟕𝟕𝟕𝟏𝟕𝟕𝟕𝟒𝟎 +𝟗𝟓𝟗 𝟐𝟔𝟑𝟐𝟕𝟔𝟑𝟐𝟎 +𝟗𝟓𝟗 𝟐𝟓𝟓𝟓𝟓𝟕𝟔𝟒𝟖 +𝟗𝟓𝟗 𝟕𝟗𝟖𝟗𝟒𝟏𝟔𝟏𝟓 📍 No.209, Parami Road, 5-Quarter, South Okkalapa Tsp, Yangon, Myanmar 🇹🇭 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝 𝐎𝐟𝐟𝐢𝐜𝐞 +𝟲𝟲𝟵𝟰𝟲𝟳𝟭𝟭𝟭𝟬𝟬 📍 80/49 Senaniwet Project 1 Village, Senanikom 1 Road, Chorakhe Bua Subdistrict, Lat Phrao District, Bangkok 10230, Bangkok, Thailand, Bangkok ✉️ 𝗘𝗺𝗮𝗶𝗹: 𝐢𝐧𝐟𝐨@𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐲𝐛𝐢𝐳.𝐜𝐨𝐦 𝗶𝗻𝗳𝗼𝘁𝗵𝗮𝗶@𝗰𝗼𝗺𝗽𝗲𝘁𝗲𝗻𝗰𝘆𝗯𝗶𝘇.𝗰𝗼𝗺

Helping Businesses Thrive in Thailand: Services Expert at Competency Business Solutions For those aspiring to initiate a business venture in 🇹🇭 Thailand, Competency Business Solutions (CBS) offers highly effective services tailored for entrepreneurs seeking to expand their current enterprises. Established in 2022, CBS Thailand has been dedicated to providing premier services to businesspeople from Myanmar, facilitating their transition to the Thai market with ease and speed. Over the course of more than a year, we have successfully established and launched over 100 companies in Thailand. Embarking on a new business venture brings its own set of challenges, from choosing the appropriate business type to understanding the specific needs that arise during the establishment process. Prior to commencing a new enterprise, consider: ✅ The suitability of the business type for your objectives ✅ The necessary licenses required for application ✅ The essential information needed for operational management CBS is currently offering complimentary consultations with our internationally seasoned professionals to guide you through these considerations. When you are set to start a new business in Thailand, CBS offers comprehensive services to facilitate your venture: 🏢 We can assist in establishing a fully foreign-owned company. 🏢 We also support the formation of Thai companies with Thai (51%) and foreign (49%) ownership. 🏢 Our services extend to connecting with international banks to establish robust foreign companies. 📇 We guide you through the application process for the necessary licenses, ensuring compliance with Thai laws and regulations. 🏦 Following the company's establishment in Thailand and the commencement of operations, we arrange for the opening of the requisite corporate bank accounts. 📑 We provide precise services for business statistics and revenue-related matters. 📑 Our team is equipped to assist in the legal submission of annual statistics, adhering to the regulations set by Thailand's Department of Business Development (DBD). 📑 To prevent business delays caused by complex statistics, we offer auditing services conducted by skilled accounting professionals. We guarantee that these business services will be delivered promptly and efficiently. Contact 𝗖𝗕𝗦 To address your needs swiftly, please contact CBS using the information provided below. We are committed to resolving your challenges effectively. 🇲🇲 𝐌𝐲𝐚𝐧𝐦𝐚𝐫 𝐎𝐟𝐟𝐢𝐜𝐞 +𝟗𝟓𝟗 𝟕𝟕𝟕𝟏𝟕𝟕𝟕𝟒𝟎 +𝟗𝟓𝟗 𝟐𝟔𝟑𝟐𝟕𝟔𝟑𝟐𝟎 +𝟗𝟓𝟗 𝟐𝟓𝟓𝟓𝟓𝟕𝟔𝟒𝟖 +𝟗𝟓𝟗 𝟕𝟗𝟖𝟗𝟒𝟏𝟔𝟏𝟓 📍 No.209, Parami Road, 5-Quarter, South Okkalapa Tsp, Yangon, Myanmar 🇹🇭 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝 𝐎𝐟𝐟𝐢𝐜𝐞 +𝟲𝟲𝟵𝟰𝟲𝟳𝟭𝟭𝟭𝟬𝟬 📍 80/49 Senaniwet Project 1 Village, Senanikom 1 Road, Chorakhe Bua Subdistrict, Lat Phrao District, Bangkok 10230, Bangkok, Thailand, Bangkok ✉️ 𝗘𝗺𝗮𝗶𝗹: 𝗶𝗻𝗳𝗼𝘁𝗵𝗮𝗶@𝗰𝗼𝗺𝗽𝗲𝘁𝗲𝗻𝗰𝘆𝗯𝗶𝘇.𝗰𝗼𝗺

This comprehensive guide from our SCB Corporate team is designed for non Sri Lankan residents and foreigners interested in establishing a company in Sri Lanka. The below guide provides a detailed overview of the process, benefits and legalities associated with registering and operating a successful business in Sri Lanka. Read more at: https://lnkd.in/ghefDUCr Contact Us: +94 (0)77 780 3109 Email: [email protected] Website: www.scbcorporate.com #SCBCorporate #Accounting #AccountingServices #AccountingFirm #Business

Supporting Papua New Guinean SMEs - Why Aren't Big Businesses Doing More? It’s definitely tough to see SMEs struggling, especially when they have the potential to contribute significantly to the economy. In the context of Papua New Guinea, where inflation and economic pressures can be particularly severe, there are a few reasons why larger businesses might not always prioritize working with SMEs: Risk Aversion: Larger businesses often have established processes and prefer to work with suppliers and partners who have proven track records. SMEs, especially newer ones, might be perceived as higher risk due to their limited experience or financial stability. Scale and Efficiency: Big businesses might find it more efficient to deal with a smaller number of larger suppliers who can meet their high-volume needs. SMEs may struggle to compete on scale and cost, making it harder for them to secure contracts with large companies. Financial Stability: Larger companies might be concerned about the financial stability of SMEs. If an SME faces financial difficulties, it could disrupt the larger company's supply chain or business operations. Networking and Influence: Often, large companies have established networks and influence that can make it easier for them to maintain relationships with certain suppliers or partners. This can create barriers for SMEs trying to break into these networks. Regulatory and Compliance Issues: Larger businesses might have stringent compliance and regulatory requirements. SMEs might struggle to meet these standards, making it challenging for them to become suppliers or partners. However, there are ways that larger businesses can support SMEs, and some are already doing so: Supplier Development Programs: Larger companies can create programs to help SMEs meet their standards and grow their capacity. Partnerships and Mentorship: Big businesses can offer mentorship or strategic partnerships, helping SMEs navigate the challenges of scaling up. Local Sourcing Initiatives: Encouraging local sourcing can help SMEs gain access to larger markets. Investment and Funding: Providing investment or funding opportunities can help SMEs expand and improve their operations. In PNG, it might be beneficial for both government and large businesses to actively promote policies and initiatives that foster collaboration between large enterprises and SMEs. This can help create a more balanced economic ecosystem where both large and small businesses can thrive. Repost:

Why Aren’t SMEs in Oman Succeeding? Insights and Solutions from Global Success Stories!! SMEs are critical to economic growth, job creation, and innovation. However, many SMEs in Oman struggle. Let’s go through the key challenges they face and how we can address them by drawing on global best practices. Challenges: 1. Access to Finance: 50% of Omani SMEs cite access to finance as a primary obstacle. 2. Regulatory Hurdles: Complex and time-consuming regulatory environment affects 35% of SMEs. 3. Skilled Workforce: Over 40% of SMEs face difficulties in finding skilled employees. 4. Market Competition:,Stiff competition from larger companies. 5. Infrastructure: Infrastructure gaps limit growth, affecting 25% of SMEs. Opportunities: 1. Strategic Location:,Similar to Singapore, Oman’s location offers potential for export-oriented businesses. 2. Government Support: Initiatives like Tanfeedh and Riyada have supported over 40,000 SMEs. 3. Access to Funding: ODB has allocated over OMR 100 million in loans, inspired by the UK’s EFG scheme. 4. Economic Diversification: Following the UAE’s model, Oman can diversify into tourism and logistics. 5. Technological Advancements: E-commerce in Oman is projected to grow at a CAGR of 20%. 6. Fishing Industry:,Valued at over OMR 200 million annually, with potential growth through sustainable practices. 7. Palm Tree Cultivation: Oman produces 350,000+ tons of dates annually, with significant export potential. Solutions: 1. Streamlining Processes:,Simplifying business registration and compliance. 2. Financial Literacy: Enhancing financial literacy can boost SME survival rates by 20%. 3. Public-Private Partnerships:,Collaboration can increase SME productivity by 15%. 4. Skills Development: Vocational training tailored to industry needs. 5. Market Access: Promoting Omani products through trade fairs and incentives can increase revenues by 30%. 6. Digital Transformation:,Supporting digital adoption can boost profitability by 25%. 7. Fishing and Palm Tree Cultivation: Sustainable fishing and increased date exports can significantly boost the economy. Here you are : Building specialized funds focused on key sectors can attract investors by offering targeted investment opportunities with clear growth potential. The Funs can provide: 1- Dedicated Support: Tailored financial products and services for SMEs in specific sectors. 2- Risk Mitigation: Reduced investment risks through specialized knowledge and support. 3- High Returns: Attractive returns by tapping into high-growth sectors with proven potential. Effective Governance: 1. Streamlined Processes:Simplifying business registration and regulatory compliance. 2. Transparency and Accountability: Implementing clear, transparent governance frameworks. 3. Public-Private Partnerships:Fostering collaboration between government, private sector, and academic institutions. Looking forward to see SME’s growing positively ! The natural resources optimally exploited .

NCCI urge SMEs to work as a consortium: Martin Endjala The Namibia Chambers of Commerce and Industry’s (NCCI) Chief Executive Officer, Charity Mwiya urged all Small and Medium Enterprises (SMEs) to start collaborating to form consortiums. She said by doing this, many SMEs stand a chance to compete within various markets both locally and internationally while cautioning that those who choose to operate individually will miss out on many opportunities. “SMEs need to start forming consortiums to leverage the benefits of partnerships. The NCCI is here to expose you to various markets and partnerships will assist you along the way”. Mwiya said this during a business connect engagement between SMEs and Meatco in Windhoek on Tuesday. The engagement is part of the NCCI’s enterprise development programme. She said that the world is moving at a fast pace with many new avenues emerging, such as the green economy, oil and gas and artificial intelligence (AI). She added that SMEs will have to tap into these avenues by pooling resources and forming partnerships. According to Mwiya, this will be the only way for SMEs to succeed. She indicated that countries such as Ghana when visiting Namibia always come as a consortium which benefits every member. Hence she argues that an individual SME competing in such markets, will not stand a good chance of success. Mwiya called on SMEs to do away with the notion of wanting to work alone or assisting another SME to get exposure out of fear that doing so might be detrimental to their own business. She said NCCI has created policies and frameworks to guide the private and public sectors on how to conduct themselves and their businesses. She also urged SMEs to participate in conferences and engagements where they can meet new people and form new partnerships while also gaining much-needed information on the businesses they are venturing into and gaining expertise or training. Moreover, businesses are reminded to continue adhering to the policy frameworks to ensure that they do not fall on the wrong side of the law, in particular by paying royalties and taxes. Furthermore, the NCCI reaffirmed its commitment to continue looking after the well-being of the business industry and the country, by ensuring that policies are favourable to both local and foreign business. That speaks to the needs on the ground, while engaging government on various interventions to create more markets for old, new and upcoming SMEs in the country.

Random conversations with a couple of people who are involved in different forms of trades have shown that most people are not fully aware of what business truly entails. So I would be spending the next few days giving insights to what a proper business should be based on Nigeria standards and things you should incorporate in other to have a standard business. Starting with the commonly used acronym SMEs SME stands for Small and Medium-sized Enterprises. In Nigeria, Small and Medium-sized Enterprises (SMEs) are defined by specific criteria set by the government and various institutions, such as the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). These criteria include the number of employees, the value of assets, and the annual turnover of the business. There are 3 major categories which are classified below: Classification of SMEs in Nigeria. 1. Micro Enterprises: Number of Employees: 1-9 employees. Asset Base (excluding land and buildings): Less than ₦5 million. Annual Turnover: Less than ₦10 million. 2. Small Enterprises: Number of Employees: 10-49 employees. Asset Base (excluding land and buildings): ₦5 million to less than ₦50 million. Annual Turnover: ₦10 million to less than ₦100 million. 3. Medium Enterprises: Number of Employees: 50-199 employees. Asset Base (excluding land and buildings): ₦50 million to less than ₦500 million. Annual Turnover: ₦100 million to less than ₦1 billion. Note: Having just one characteristic of a specific SME classification doesn't automatically place your business in that category. To accurately determine your classification, your business should meet at least two to three key criteria of the classification. Key Features of Nigerian SMEs 1. Ownership and Structure: - Most SMEs in Nigeria are privately owned, often as sole proprietorships, partnerships, or limited liability companies. They are typically managed by their owners or a small management team. 2. Capital Requirements: The capital needed to start and sustain an SME in Nigeria varies depending on the sector. Micro and small enterprises may require less initial capital, while medium enterprises often require substantial investments. 3. Sectors: Nigerian SMEs operate in various sectors, including agriculture, manufacturing, retail, information technology, and services. The government often prioritizes sectors like agriculture and manufacturing due to their potential to create jobs and stimulate economic growth. 4. Regulatory Environment: - Nigerian SMEs are subject to various regulations, including registration with the Corporate Affairs Commission (CAC), tax obligations, and compliance with sector-specific regulations. Access to finance, market access, and regulatory compliance are common challenges for SMEs in Nigeria.

**IPO Opportunity for SMEs in Nepal!** Exciting updates for small and medium enterprises (SMEs)! The Securities Exchange Board of Nepal (SEBON) has submitted new rules for IPOs to the Finance Ministry and Cabinet for final approval. Once implemented, these rules will open up incredible opportunities for SMEs to raise capital through the public market. Key Highlights: 1. **Eligibility Criteria for IPO:** - At least **30% of shares** must be issued to the public, while promoters retain a minimum **51% ownership**. - Companies must provide **one year of audited financial statements** and the **AGM minutes** to SEBON. - No credit rating is required for SMEs issuing IPOs, if issue price is Rs: 100. 2. **Capital Limits:** - Post-IPO, the company’s capital should not exceed Rs: 25 crore. 3. **Share Pricing Rules:** - **Face value** of shares is set at Rs: 100. - For issuing shares at a premium: - The company must have **3 years of audited financials**. - A credit rating is required, with a minimum **average or above-average rating**. - **Book value per share** must exceed the issue price, if need to issue at premium. 4. **Public Allocation:** - A minimum of **150 shares per applicant** will be issued. In the case of oversubscription, shares will be allotted through the usual process of allotment. The company should be the public limited company with at least 7 shareholders. This reform is a game-changer for SMEs looking to scale and attract investment. With SEBON's strong proposal, there is a high likelihood of approval by the Ministry and Cabinet soon. Stay tuned for more updates!

Outsourcing is a cost-effective option when your business needs to rapidly scale up market share. There are many benefits of outsourcing your accounting department with Safe Side, such as: ➡ Access to finance and accounting expertise ➡ Cost saving (No Iqama, Annual Tickets, GOSI ) ➡ Time Saving for the Business ➡ Avoid turnover problems and staff time off. ➡ Gain Flexibility To Meet Business Needs ➡ Access to Better Tools & Processes with the least cost Contact Us now to benefit from all of these and more on 📧 [email protected] #SafeSide #OutsourcingSolutions #Accounting #Finance #KSA #UAE #Egypt #MENA #businessautomation #digital #Flexibility #Scalability #Payroll #HR #Finance #payment #Saudi #startups #consultants #businessgrowth #success #startup #business