Lagos SME Bootcamp Draws 1,000 Entrepreneurs as Economic Pressures Mount on Small Businesses
Fadekemi Ajakaiye
Over 700 small business owners converged in Lagos recently, with hundreds more joining virtually, for the 8th edition of the Caladium Lagos SME Bootcamp amid intensifying economic pressures across Nigeria’s entrepreneurship sector.
The annual gathering addressed critical survival challenges facing small enterprises, including intellectual property theft, funding gaps, and brand visibility in crowded digital markets.
According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), while SMEs contribute 48% of the country’s GDP and provide 84% of jobs, most struggle with access to capital, legal protection, and market positioning.
“Eight years ago, Oluwaseun Durojaiye and I started this journey with a simple belief: that small businesses deserve access to the same quality of insights and networks that larger corporations enjoy,” said Ayo Bankole Akintujoye, Co-Founder and Convener. “Today, we’re celebrating hundreds of businesses that have transformed their operations and built sustainable enterprises through the knowledge and connections gained here.”
Speakers across three sessions addressed the most pressing SME concerns: protecting business assets, building customer trust, and adapting to market changes. The opening session focused on legal and financial foundations, with speakers including Oyinkansola ‘Foza’ Fawehinmi, Isah Yusuf Aruwa, and Todimu Ige emphasizing proper documentation and intellectual property registration.
Fawehinmi, Lead Legal Consultant at Zaeda Oracle, warned that many SMEs lose significant revenue through unprotected intellectual property.
“Too many business owners create value but fail to secure their rights to it. Your brand name, your unique process, and your creative content are assets that can be monetized, but only if they are properly registered and protected. The cost of registration is minimal compared to the cost of losing your business identity to copycats or being unable to enforce your rights when someone infringes,” Fawehinmi said.
The second plenary explored brand visibility and trust-building, featuring Edward Israel-Ayide of Carpe Diem Solutions, Adebayo Adegun, Mobolaji Ajayi, and Suraj Oyewole.
Israel-Ayide challenged entrepreneurs to recognize untapped marketing assets within their daily operations.
“Every SME has authentic stories to tell, they’re just not looking for them. Your customer transformations, your founding moment, your team’s daily wins, these are your marketing assets. In a digital space full of noise, authenticity cuts through. People don’t remember your product specifications or pricing tiers. They remember how you made them feel. Show the human side of your business, and watch how trust turns strangers into customers,” Israel-Ayide said.
A highlight of the event was the Founder’s Spotlight featuring Razaq Ahmed, Co-Founder and CEO of Cowrywise, who shared lessons from building one of Nigeria’s leading fintech platforms. Ahmed discussed navigating regulatory challenges, achieving product-market fit, and democratizing access to savings and investment products, emphasizing vision clarity and customer-centric innovation.
The third plenary examined business model evolution and leadership in uncertain times. Godwin Tom of Sony Music Publishing Nigeria and Ashley Immanuel of Semicolon encouraged entrepreneurs to build with sustainability and scalability in mind while staying agile amid Nigeria’s evolving market dynamics.
Beyond the sessions, the event featured an exhibition marketplace with over 75 businesses and a pitch competition where three entrepreneurs received grants.
Since its 2018 inception, the Caladium SME Community has impacted more than 10,000 small businesses through bootcamps and training initiatives.
