Thousands of Nigerian small businesses struggle with rising operating costs, weak consumer spending and limited access to business support.
This is even as Paystack is launching a new accelerator programme aimed at helping entrepreneurs build stronger and more resilient companies beyond simply accepting digital payments.
The fintech company on Monday unveiled Small Business Launchpad, a four-week growth programme that will provide selected small and medium-sized enterprises (SMEs) with practical business training, one-on-one mentorship, operational support and financial incentives, underscoring a growing shift among fintech firms from payment processing to business development.
The initiative comes at a time when Nigerian SMEs, which account for the overwhelming majority of businesses and employ millions of people, are facing one of their toughest operating environments in years. Inflation, high borrowing costs, exchange-rate volatility and rising energy prices have squeezed profit margins, leaving many entrepreneurs searching for practical ways to improve efficiency, manage cash flow and grow revenues.
Paystack’s programme seeks to address those challenges by pairing founders with experienced operators who have built successful businesses, while giving them direct access to finance experts, growth specialists and Paystack’s own support teams.
