Traders Seek Soft Loans For SMEs
Traders at the popular Ikoku spare parts market have appealed to government at all levels in the country to assist small scale businesses with soft loans to expand their investments.
Vice Chairman, Christ The King line in the market, Mr. Sampson Chinedu made the position of the traders known to The Vortex during a chat in his office. Chinedu said such loans will go a long way in cautioning the harsh economic challenges facing small business owners in the country.
According to vice chairman, the harsh impact of the economy has negatively slowed down businesses in the country and equally led to poor patronages from customers.
He lamented the hardship which the economic policies of the government has imposed on importers of spare parts and appealed to the government to reconsider some of its policies in view of the sufferings being encountered by the business community in the country.
Chinedu, who has over 20years experience in the business of selling fairly used motor spare parts, said traders in the business have over the years depended on imported spare parts, stressing that the traders also source old spare parts from knock down vehicles usually purchased from the owners by dealers in the market.
He however regretted the fact that none of these parts are manufacture in Nigeria, also poses a big strain on the cost of spare parts in the country.
The vice chairman also lamented of the criminal activities of those he termed ‘bad boys’ who at will evade the market, and rob the traders of their goods and cash.
The business man decried the constant invasion of the old motor spare parts area by the Nigerian police, who he said usually embark on mass arrest of traders in the market over allegations of stolen vehicles; stressing that the union has taken the responsibility in tackling such incidents.
He however expressed delight that the market security personnel provided in the market by the landlords of the line has been able to curtail the incidents of burglary and night stealing from shops on the line.
Chinedu advised aspiring young businessman to change their orientation for quick fix opportunities, insisting that they remain focus to their dreams, adding that patience is a vital key to succeeding in any endeavour.