Seeks collateral-free loans for SMEs
By Kola Alhassan
“Growing small and medium scale businesses to a conglomerate could be challenging. But with persistence, determination and the right connections, a small business could graduate into an empire.”
Those were the words of Abike Sanusi, a young business owner in the Abule Egba axis of the Lagos metropolis.
Sanusi, who is the founder of Greenrush Multiconcept, produces organic soaps and creams.
She revealed that she engaged in different trainings to be able to make organic soaps and creams.
Speaking to IkejaBird, the entrepreneur quipped: “Not everyone can make good organic soaps and creams. So many people are now into the business, but you find very few who would give nice formula. Some mix dangerous chemicals for quick results. At the end of the day people have burnt and hypo pigmented skin. Before I started out, I underwent series of trainings to make my work very effective.”
Sanusi, a graduate of English Education at the Tai Solarin University of Education (TASUED), Ijagun, Ogun State, noted that she started the business during her undergraduate days.
The business owner also delved into jewelry business to augment her income. She explained that organic soap and cream production was lucrative, but because people want fast result on their body, charlatans and impostors have taken over, hence, there is low sales.
“Organic soap and cream business is lucrative on a good day. In fact, the profit margin is impressive, but at times, there is low patronage because many people want fast action cream and soap, so they patronise people who would mix harsh chemicals for them.
”The organics I produce are not for bleaching. My products tone the skin gradually. You won’t have sunburns and other skin irritations but when some people buy from you, they want immediate action. No, organics are not like that. Real and authentic organics devoid of harsh chemicals start to work after seven days.”
Speaking on challenges she is facing as a growing entrepreneur, Sanusi stated that charlatans have infiltrated organic soap and cream business.
She said many people now mix different ingredients just for fast action, which after a while, affects the skin. This, she said, has resulted in dwindling sales. Despite that, she trudges on with her business.
“The influx of charlatans into organic soap and cream business has caused a dip in sales, but I have been able to stabilize my income to some extent. I sell different type of jewelry: earrings, necklaces, wristwatches for men and women, bracelet, bangles, leg chain and all.
Asked what should be done to assist small and medium scale enterprises, Sanusi, while praising government for tradermoni, suggested soft loans with little interest and zero collateral. This, she said, would assist many small business owners to stay afloat and enhance economic development.
